Exam-style question
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25-mark essay practice: evaluate whether policy action is likely to improve outcomes for Paper 1 Markets and market failure. (4).
Model answer
What a good answer should say
- Recognise that Paper 1 includes data response and EXAM-STYLE 4: a strong response defines the relevant economic concept, applies it to the stated context, develops a cause-and-effect chain, and reaches a judgement about AO1 accuracy, AO2 application, AO3 analysis and AO4 evaluation.
Explanation
Why this works
Recognise that Paper 1 includes data response and is assessed through the prompt: "25-mark essay practice: evaluate whether policy action is likely to improve outcomes for Paper 1 Markets and market". Begin with a precise definition of Recognise that Paper 1 includes data response and, then apply it to Paper structure using the context rather than a memorised paragraph.
The analysis should move through at least three steps: the initial cause, the transmission mechanism, and the economic consequence for AO1 accuracy, AO2 application, AO3 analysis and AO4 evaluation. Evaluation should consider whether the result depends on elasticities, confidence, spare capacity, market power, data quality, the size of the intervention, or the time period.
A high-quality AQA answer finishes with a judgement that weighs the strongest argument against the most important limitation, not a generic "it depends" sentence.
Common mistake
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