Things to remember when answering Economics exam questions!!

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Answering Economics Exam Questions
- 8 mark - Data comparison
  - Be specific!
  - Right figures, units
  - Peaks/troughs, start/end
  - Fluctuations
    - Sharp rises/falls
  - Overall Change
- 25 Mark
  - 1. Introduction and Application
    - Include definitions
    - Spend no longer than 5 mins
    - Application - draw prompts from data
    - 1/3 Page
  - 2. Analysis
    - Page
    - Diagrams!
      - Include labels such as..
        Excess Demand/supply
        
        Over/under consumption
        
        Taxes/Subsidies
      - Exaplanation
    - Non-price related policies
      - Such as providing information
  - 3. Evaluation
- 12 mark
  - Diagram worth up to 6 marks!
    - Label axis, points on axis
    - Correct curve shifts
      - Arrows, points clearly labelled
    - Shape of curves - ie elastic/inelastic
  - Explanation - up to 8 marks
    - Curve shift - reasons why
    - Defintions
      - Demand, supply
      - Contraction / extension
- 5 Marks - definitions
  - Use of examples
  - Formula, if required eg elasticity
Explanation - up to 8 marks
- Curve shift - reasons why
- Defintions
  - Demand, supply
  - Contraction / extension

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