Glossary

Reset Glossary
centrally planned system

Subject: 

  • Economics

(also known as the command system; socialism or communism) an economic system that is controlled and organised by the state; which makes all the decisions about the development of the economy and also owns all the resources.

Related Terms: 

communism
socialism

Related Content

wealth
Subject:
Economics

all the physical and financial assets that are gathered over time.

money supply
Subject:
Economics

the total amount of money that is available in the country.

deflation
Subject:
Economics

when prices of a wide range of goods and services decrease continuously over an extended period...

fixed investment
Subject:
Economics

the construction or manufacturing of new capital goods; such as buildings; machinery or vehicles...

endogenous
Subject:
Economics

factors that are inside the system.

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Exam practice is essential. Make sure your student has access to practice exam papers for the subjects they take. Make sure the exam papers relate to the correct version of the curriculum.

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Studying should be active. Your child should be making notes, working through examples, doing practice exam papers and testing herself on the sections she is studying.

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Formulae sheets or key concept sheets are useful for quick revision. Get your teenager to stick them on the wall in their room. The more they look at the formulae and key concepts, the more likely...

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Different study methods work for different students. Find out what works for your child so you understand how you can support him or her.

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