Individuals, firms, markets and market failure exam tips

Exam tips

• Economic methodology and the economic problem Economics exam tip 1

  Start with a precise AO1 definition of Economic methodology and the economic problem, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.1.3 Economic resources..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Economic methodology and the economic problem Economics exam tip 1

  Start with a precise AO1 definition of the market mechanism, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.1.4 Scarcity, choice and the allocation of resources..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Economic methodology and the economic problem Economics exam tip 1

  Start with a precise AO1 definition of Economic methodology and the economic problem, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.1.5 Production possibility diagrams..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Individual economic decision making Economics exam tip 1

  Start with a precise AO1 definition of Individual economic decision making, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.2.1 Consumer behaviour..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Individual economic decision making Economics exam tip 1

  Start with a precise AO1 definition of Individual economic decision making, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.2.2 Imperfect information..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Individual economic decision making Economics exam tip 1

  Start with a precise AO1 definition of Individual economic decision making, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.2.3 Aspects of behavioural economic theory..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Individual economic decision making Economics exam tip 1

  Start with a precise AO1 definition of Individual economic decision making, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.2.4 Behavioural economics and economic policy..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Price determination in a competitive market Economics exam tip 1

  Start with a precise AO1 definition of demand, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.3.1 The determinants of the demand for goods and services..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Price determination in a competitive market Economics exam tip 1

  Start with a precise AO1 definition of supply, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.3.3 The determinants of the supply of goods and services..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.

• Price determination in a competitive market Economics exam tip 1

  Start with a precise AO1 definition of elasticity, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.3.4 Price elasticity of supply..

  This keeps AO1, AO2, AO3 and AO4 separate and prevents unsupported evaluation or generic Business-style wording.