Pages in this set

Page 1

Preview of page 1
Markets, elasticity and taxation & subsidies

Page 2

Preview of page 2
The exam

Markets

Elasticity

Taxation

Subsidies

Page 3

Preview of page 3
1 HOUR 30 MINUTES LONG
- 50% AS
- TOTAL 80 MARKS

Supported choice: Data question:
8 questions for 4 marks 33% evaluation
each 5 questions
Total 32 marks Total 48 marks
Spend no longer than 36 Spend 54 minutes here
minutes here

Page 4

Preview of page 4
The supported choice:
Definition: 1 ­ 2 marks
Diagram: 1 - 2 marks
Annotation: 1 - 3 marks
Application/calculation: 1 ­ 2 marks
Further analysis: 1 ­ 2 marks
KOs ­ 1 ­ 3 marks ­ refer to key!

Page 5

Preview of page 5
The data response ­ 5 questions:
4 MARK QUESTION
purely knowledge and application marks
Define the terms in the question (1 ­ 2 marks)
remember to apply your knowledge to the extract
6 MARK QUESTION
purely knowledge and application marks
Define the terms in the question (1 ­ 2 marks)…

Page 6

Preview of page 6
The data response cont:
10 MARK QUESTION
Definition/knowledge ­ 1 mark
Application, analysis & diagram ­ 5 marks
4 marks for evaluation: (2 + 2)
14 MARK QUESTION
Identification, analysis & diagram ­ 8 marks
6 marks for evaluation: (2 + 2 + 2) safest

Page 7

Preview of page 7
Evaluation ideas:
Short versus long-run
Different elasticities
Magnitude of factors ­ use extract or data
Ceteris paribus ­ could other factors be the cause
of these effects
Opposing viewpoints
Put the event in a wider context

Page 8

Preview of page 8

Page 9

Preview of page 9
You should know:
Factors which shift demand
Factors which shift supply
Consumer & producer surplus
Role of the price mechanism
Application to markets:
Agriculture
Precious metals
Oil
Stock markets
Labour

Page 10

Preview of page 10
Factors that shift demand & supply:
DEMAND SUPPLY
Income Production costs
Population Technology
Tastes Number of firms
Price of substitutes Weather
Price of complements Tax
Interest rates Subsidies
Expectations Firms' objectives

Comments

davidsalter

This is a 47 slide presentation that goes through unit 1 of the Edexcel exam. It contains questions. Students may need more detail on some aspects of the syllabus but this will provide an indication of where these are and can be used to highlight learning needs.

Similar Economics resources:

See all Economics resources »See all resources »