How this connects to your other standards

This standard is not a sealed topic. Read this first if you are also taking one of the standards below.

Related in other Level 2 Economics standards

The most direct links:

Analyse international trade using economic concepts and models (91223): inflation studied here directly affects export/import competitiveness When NZ inflation runs higher than trading partners', NZ exports become relatively less competitive and imports relatively cheaper — a direct link into that standard's exchange-rate and trade reasoning. Analyse economic growth using economic concepts and models (91224): the SAME AS/AD model and business-cycle position used here are central there too A demand-pull or cost-push shock shown on the AS/AD graph in this standard is the exact same model used in 91224 to explain growth and the business cycle — the same graph, read for a different question. ✓

The big picture in one sentence

Every part of this paper rewards the SAME discipline: show the correct shift on the correct graph model (AS/AD, or MV = PQ), then trace the full chain of consequences and compare at least TWO named groups — never a single, disconnected observation.

Practice for this standard covers the whole topic — flashcards and quiz.