Edexcel 25 Mark Question Evaluate the possible factors influencing the level of economic development in a developing country of your choice Edexcel A-Level Economics 25 Mark Essay Plan In Sudan, public services such as healthcare are struggling to keep running. Power outages, blocking of internet access, and fuel shortages, will mean hospitals struggle to operate. Many of the hospitals in the capital city, Khartoum, have reported shortages of doctors, blood, transfusion
AQA 25 mark question Assess the view that increased globalisation has been beneficial for the UK economy AQA A-Level Economics Paper 2 June 2023 Assess the view that increased globalisation has been beneficial for the UK economy. (25 marks) * Paragraph 1 * Argument: lower prices * Diagram: tariff removal diagram * Evaluation: tax revenue is lost * Paragraph 2 * Argument: structural unemployment * Diagram: comparative advantage diagram * Evaluation: supply-side policies One of
GCSE GCSE Economics Notes What is the basic economic problem? The basic economic problem is scarcity. This means that there are unlimited wants but limited resources. What is opportunity cost? Opportunity cost is the value of the next best alternative. For example, spending £5 on chocolate means you have £5 less to spend on
Edexcel 25 Mark Question Evaluate the possible conflicts between macroeconomic objectives when seeking to control inflation Edexcel A-Level Economics June 2025 In January 2023 the UK prime minister, Rishi Sunak, promised to halve inflation by the end of the year. In July 2023 the Bank of England governor, Andrew Bailey, said: “It is crucial that we… return inflation to its 2% target and provide the environment
Model Paragraphs Fixed Exchange Rates | A-Level Economics Model Paragraph Discuss how fixed exchange rates can help China to control the value of their currency Exchange rates are the price of a currency in terms of another. A fixed exchange rate is when the value of the currency is managed by the central bank who buy and sell currency reserves
Model Paragraphs State Provision | A-Level Economics Model Paragraph Evaluate whether state provision is necessary for some goods and services State provision occurs when the government choose to provide goods and services free of charge, to correct a market failure. For example, dental care is a service that has positive externalities in consumption. If left to the free market,
Model Paragraphs Education and Training | A-Level Economics Model Paragraph Explain the effect of education and training on a labour market Another policy to reduce the gender pay gap could be to improve the education and training available to women. In a free labour market, wages are determined by supply and demand of labour alone. So, if the demand for
Edexcel 25 Mark Question Evaluate the level of contestability in the fragrance industry or another industry of your choice Edexcel A-Level Economics 25 Mark Essay Plan Bytedance, which owns TikTok, has launched its own fragrance ‘Emotif’. The Beijing-based social media giant has already entered the food and drink markets. Evaluate the level of contestability in the fragrance industry or another industry of your choice. (June 2024) Paragraph 1 * Argument:
Model Paragraphs Non-Price Competition | A-Level Economics Model Paragraph On the other hand, you could argue that supermarkets serve customers well. This is largely because of non-price competition. The supermarket sector is quite likely to be a more competitive oligopoly because authorities such as the CMA usually investigate potential mergers and prevent them if they lead to a firm
Model Paragraphs Collusion | A-Level Economics Model Paragraph The supermarket sector could be damaging to consumers due to the risk of collusion. Extract F Line 1 mentions that economists have been worried about the lack of competition in the industry. Despite collusion being illegal in the UK, there is always a risk of tacit collusion taking place as
Model Paragraphs Natural Monopoly | A-Level Economics Model Paragraph Evaluate the need to regulate natural monopolies Natural monopolies should be regulated as they are allocatively inefficient. Monopoly power is when firms have a high market share (above 25%), high barriers to entry, and price-making power. Natural monopolies like Thames Water in particular have extremely high fixed costs such as
Model Paragraphs Provision of Information | A-Level Economics Model Paragraph Discuss the Effect of Provision of Information on a Market with Positive Externalities One way the government could intervene to correct the under-consumption of bicycle helmets is through provision of information. In the free markets, the externalities caused by not wearing a helmet are likely to be ignored. Therefore, the
AQA 9 mark question Analyse the impact on grocery consumers of interdependence between supermarkets AQA A-Level Economics Paper 1 June 2022 Extract E (lines 16–17) states that, ‘Supermarkets set prices interdependently, and price wars look very likely.’ With the help of a diagram, analyse the impact on grocery consumers of interdependence between supermarkets. (9 marks) The supermarket sector is an oligopolistic market structure.
AQA 15 mark question Explain why imperfect and asymmetric information may lead to market failure in the market for food. (June 2024) AQA A-Level Economics Paper 1 June 2024 Explain why imperfect and asymmetric information may lead to market failure in the market for food. (June 2024) Market failure is when there is a misallocation of resources. Imperfect information occurs when economic agents are unable to easily access all the information they
AQA 15 mark question Explain how a firm may benefit from both internal and external economies of scale. AQA A-Level Economics Paper 1 June 2021 Explain how a firm may benefit from both internal and external economies of scale. (15 marks) Economies of scale are when long run average costs fall as output increases. Internal economies of scale occur when a specific firm's long run average
AQA 15 mark question Explain the main problems for an economy of having a large positive output gap AQA A-Level Economics Paper 2 June 2022 Explain the main problems for an economy of having a large positive output gap. (15 marks) A positive output gap is when the actual rate of economic growth is greater than the trend rate of economic growth, which relates to the capacity of
AQA 15 mark question Explain why, in a free market, sugary drinks may be overconsumed AQA A-Level Economics Paper 1 June 2017 Explain why, in a free market, sugary drinks may be overconsumed. (15 marks) A market is a place where buyers and sellers meet to exchange goods and services. A free market has no government intervention so price and quantity is determined by demand
Y13 Microeconomics Notes Behavioural Econommics | A-Level Economics Notes These revision notes cover everything you need to know about Behavioural Economics for A-Level Economics. They're designed for students studying AQA A-Level Economics, Edexcel A-Level Economics, and Edexcel International A-Level Economics. Written by Jaisul Naik, UCL Economics graduate and A-Level Economics tutor since 2017. What are the three
AQA 10 mark question Explain two factors that could cause a fall in consumption AQA AS-Level Paper 1 June 2020 Insert Extract C (lines 3–4) states: ‘Household consumption accounts for approximately 60% of aggregate demand so has a vital role to play in the economy.’ Explain two factors that could cause a fall in consumption. (10 marks) One factor that could cause a
Edexcel 15 mark question Discuss whether providing substantial government financial support to banks is the best policy response during a financial crisis Edexcel A-Level Economics Paper 2 June 2019 Extract Discuss whether providing substantial government financial support to banks is the best policy response during a financial crisis. (15 marks) 1. On the one hand, it is best that the government provide financial support to banks during a financial crisis to prevent
Model Paragraphs Subsidies | A-Level Economics Model Paragraph Discuss the Effects of a Subsidy on a Market with Positive Externalities A subsidy is a payment given by the government to firms, causing supply to shift to the right. The diagram below shows the impact of a subsidy on gym membership. Supply is the number of goods and services
Model Paragraphs Indirect Taxes | A-Level Economics Model Paragraph Discuss the Effects of an Indirect Tax on a Market with Negative Externalities An indirect tax is an extra cost of production imposed on firms by the government. It causes supply to shift to the left, as shown by the diagram below. Supply is the quantity of goods and services
Model Paragraphs Negative Externalities in Production | A-Level Economics Model Paragraph Negative Externalities in Production Market failure occurs when there is a misallocation of resources. The market for magazines have negative externalities in production, as shown by the diagram below. Negative externalities occur when there is a cost to the third party from the production of the good or service. The
Model Paragraphs Positive Externalities in Consumption | A-Level Economics Model Paragraph Positive Externalities in Consumption Market failure occurs when there is a misallocation of resources. A bicycle helmet is a merit good, as it causes positive externalities in consumption, shown by the diagram below. Positive externalities occur when there is a cost to the third party from the consumption of the
Model Paragraphs Negative Externalities in Consumption | A-Level Economics Model Paragraph Negative Externalities in Consumption Market failure occurs when there is a misallocation of resources. Fast food is a demerit good, as it causes negative externalities in consumption, shown by the diagram below. Negative externalities occur when there is a cost to the third party from the consumption of the good