General

Question 1

Long Mark answers

Answer 1

2x Definitions (define any key words in the question)

Can use 2 diagrams max. - Always reference the diagram (Fig1, Fig2) and explain them to get marks for them

Logical Chain of reasoning is very important, never just go from start to end e.g. Collusion can cause a rise in profits (explain HOW)

Always try to use real-life examples

At the end of each point, use APE:
A - Assumptions you’ve made in this argument
P - Perspectives (Consumer, Producer, Government)
E -

Must evaluate throughout the whole thing (AFTER EACH POINT), not just in conclusion

Question 2

All Paragraphs

Answer 2

PCCEE
Point, Cause, Consequence (answer the question), Examples, Evaluation

Use chains of analysis throughout. ASSUME EXAMINER HAS NO ECONOMIC KNOWLEDGE. e.g. VAT goes up as consumption increases with growth. Higher incomes = higher propensity to consume

Evaluate pros and costs of economic growth
Example of the fiscal dividend benefit of economic growth.

P - Increase in econ. growth generates fiscal dividend for gov.

Cause - This occurs because, higher growth = higher income tax revenue, higher corporation tax income, higher vat income

Cons. - As a consequence of extra gov. revenue, can be spent on key things in the economy - Infrastructure to improve productivity, or public goods to improve quality of life e.g. NHS and education

Ex. - For example, Zambia’s spending on infrastructure and spending increased greatly through the fiscal dividend of economic growth

Eval. - Use assumptions you’ve made. E.g. Country could be poor at collecting tax like in Zambia or India where the self report system is very loosely monitored. Corporations may evade tax, such as Amazon in the UK pay only 10% tax compared to Waterstones’ 30%.
Short Term v Long Term, Key winners and losers

Question 3

Evaluation

Answer 3

Weigh up the points (This point carries significant weight because) using evidence

Short Run v Long Run

Question any assumptions made (e.g. Fiscal dividend from growth assumes gov. can collect tax efficiently)

Consider impacts on major stakeholders, winners and losers

Not all of them have to be relevant for every point. All 4 don’t have to be used whenever we evaluate, but keep in mind to use them.

EVALUATE THE WHOLE WAY THROUGH. AFTER EVERY POINT AND OF COURSE IN CONCLUSION

Question 4

Judgement

Answer 4

A final paragraph should not just be a conclusion or summary - It should be an ANSWER to the question. Use the question in your conclusion.

Focus on the arguments at the heart of the debate. SR v LR. Use real world evidence. e.g.