Individuals, firms, markets and market failure exam tips

Exam tips

• Perfect competition, imperfectly competitive markets and monopoly Economics exam tip 1

  Start with a precise AO1 definition of perfect competition, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.5.8 The dynamics of competition and competitive market processes..

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

• Perfect competition, imperfectly competitive markets and monopoly Economics exam tip 1

  Start with a precise AO1 definition of perfect competition, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.5.9 Contestable and non-contestable markets..

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

• Perfect competition, imperfectly competitive markets and monopoly Economics exam tip 1

  Start with a precise AO1 definition of perfect competition, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.5.11 Consumer and producer surplus..

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

• The labour market Economics exam tip 1

  Start with a precise AO1 definition of labour markets, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.6.2 Influences upon the supply of labour to different markets..

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

• The labour market Economics exam tip 1

  Start with a precise AO1 definition of labour markets, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.6.4 The determination of relative wage rates and levels of employment in imperfectly competitive labour markets..

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

• The labour market Economics exam tip 1

  Start with a precise AO1 definition of international trade, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.6.5 The influence of trade unions in determining wages and levels of employment..

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

• The labour market Economics exam tip 1

  Start with a precise AO1 definition of labour markets, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.6.7 Discrimination in the labour market..

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

• The distribution of income and wealth: poverty and inequality Economics exam tip 1

  Start with a precise AO1 definition of The distribution of income and wealth: poverty and inequality, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.7.1 The distribution of income and wealth..

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

• The distribution of income and wealth: poverty and inequality Economics exam tip 1

  Start with a precise AO1 definition of The distribution of income and wealth: poverty and inequality, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.7.2 The problem of poverty..

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

• The distribution of income and wealth: poverty and inequality Economics exam tip 1

  Start with a precise AO1 definition of The distribution of income and wealth: poverty and inequality, then apply it to the market, policy or data context before analysing. Apply this to explain AQA section 3.1.7.3 Government policies to alleviate poverty and to influence the distribution of income and wealth..

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