Edexcel A Level Economics Theme 1 Exam Technique

Supporting notes are designed to support you through the content of Edexcel Economics A Theme 1. These notes specifically will help you with The Nature of Economics

With reference to Extract A, explain the difference between a positive and a normative statement (4) or (5)

With reference to the information provided, assess whether food prices are increasing too quickly (10)

With reference to figures 1 and 2, assess whether an improvement in the UK’s energy efficiency could create an outward shift in the PPF curve (10)

With reference to extract A, assess the impact of the opportunity cost caused by the government spending on the UK oil subsidy. Use an appropriate diagram in your answer (10)

With reference to figure 2, assess whether the rise in rail fares compared to the rise in average wages can be justified (10)

Using the information provided and your own knowledge, evaluate/discuss the benefits of nationalising industries in the UK. Refer to an industry of your choice (20) or (15)

With reference to Extract B, explain one way in which Primark are acting irrationally (5)

With reference to Extract A, assess whether the ‘trend to mend’ represents rational or irrational behaviour (10)

With reference to Extract B, assess whether it is rational for consumers to buy clothes from Primark (10)

With reference to Extract A, explain one reason why Greggs is seeing a change in demand for its products (4) or (5)

With reference to Extract B, explain/examine two reasons why prices might differ between Pret branches (6) or (8)

With reference to the information provided, assess whether Greggs or Pret would benefit most from an increase in real incomes (10)

With reference to extract A, explain the impact of rising costs on the price level for Dijon mustard (5)

With reference to extract A and figure 1, assess whether climate change or rising costs are having the largest impact on the supply of Dijon mustard (10)

With reference to figure 1, assess whether the UK government should be concerned about the impact of rising temperatures on the global food supply (10)

With reference to extract B, explain the impact of a fall in membership on a UK Golf Club. Use a demand and supply diagram in your answer (5)

With reference to the information provided, explain/examine two possible reasons membership at UK Golf Clubs might have reduced (6) or (8)

With reference to extract A, assess the possible impact on revenue at Wentworth Golf Club after the proposed price increase has taken place (10)

With reference to figure 1, explain the term ‘normal good’ (4)

With reference to the information provided, assess one reason a firm might want to ‘ride on discounter coat-tails’ (10)

With reference to the information provided, explain/examine two reasons why the PES for housing is likely to be low (6) or (8)

With reference to the information provided, assess the impact of high mortgage rates on the housing market. Use a demand and supply diagram in your answer (10)

With reference to extract A, explain how increased use of wind and solar energy can lead to a positive externality of production. Use an appropriate diagram in your answer (5)

With reference to the information provided, explain/examine two benefits to drivers of the UK meeting its target date for ending the sale of new petrol or diesel vehicles (6) or (8)

With reference to the information provided, evaluate/discuss the private benefit and external benefit of electric vehicles (20) or (15)

With reference to extract A, assess the impact of the cigarette butt recycling scheme on the external cost of littering (10)

With reference to figure 1 and extract B, evaluate/discuss the policies available to countries like Bulgaria and Greece when trying to reduce the percentage of the population who smoke (20) or (15)

With reference to figure 1, assess the impact of an increase in VAT on the revenue of firms (10)

With reference to extract B, explain the impact on sales of flapjacks as a result of the VAT judgement (5)

With reference to the information provided, evaluate/discuss the benefits of increasing tax on demerit goods (20) or (15)

With reference to extract B, explain/examine two benefits of the UK government introducing a sugar tax (6) or (8)

With reference to the information provided, assess whether the incidence of tax is likely to fall on the consumers or the producers (10)

With reference to the information provided, evaluate/discuss the likely microeconomic effects of the sugar tax (20) or (15)

With reference to the information provided, assess the impact that the PED of alcohol may have on the effectiveness of the minimum price scheme (10)

With reference to the information provided, assess whether a minimum price or an indirect tax is the best way to reduce the consumption of alcohol (10)

With reference to the information provided, evaluate/discuss the expected microeconomic effects of the price floor on alcohol in Scotland (20) or (15)

With reference to the information provided, explain/examine two ways in which the government could encourage consumers to buy electric vehicles rather than petrol (6) or (8)

With reference to extract C, assess whether it would be better to grant the electric car subsidy to producers rather than consumers (10)

With reference to the information provided, evaluate/discuss the how the government supporting the market for electric vehicles could lead to government failure (20) or (15)