Contents
Model Answers
- Explain why pollution may represent a market failure. [9 marks]
- Explain possible reasons why firms may experience economies of scale. [15 marks]
- Evaluate the view that businesses should always aim to maximise profits. [25 marks]
- Evaluate possible methods for the government to intervene in markets with negative externalities, such as markets for petrol and diesel cars. [25 marks]
- Evaluate whether price discrimination is beneficial. [25 marks]
- Evaluate the consequences of income inequality. [25 marks]
- Evaluate the view that privatisation of the water industry has been beneficial. [25 marks]
- Sugar taxes: essay structure guide and model answer. [25 marks]
Notes
Please see below notes by topic, according to the AQA Economics A-Level syllabus (work in progress).
Economic methodology and the economic problem
Introduction. This includes:
- 4.1.1.1 Economic methodology
- 4.1.1.2 The nature and purpose of economic activity;
- 4.1.1.3 Economic resources;
- 4.1.1.4 Scarcity, choice and the allocation of resources.
4.1.1.5 Production possibility diagrams
Individual economic decision making
Behavioural economic policies – nudges
Supply, demand and markets
Demand and price elasticity of demand
Supply and price elasticity of supply
4.1.3.6 The interrelationships between markets
Market structures
Labour markets
Government intervention
Privatisation and nationalisation
Miscellaneous
- Sample essay question and mark scheme – in the style of Paper 1 AQA Economics: microeconomics.
- Evaluating for AQA Economics with a microeconomics example.
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