AQA 10 mark question Explain the effect of indirect taxation on the consumption of cigarettes AQA AS-Level Paper 1 June 2016 Insert Extract F (line 10) states ‘Taxation is one way governments attempt to control cigarette consumption.’ Explain the effect of indirect taxation on the consumption of cigarettes. (10 marks) An indirect tax is an additional cost of production imposed by the government on
Model Paragraphs Discuss the advantages and disadvantages of globalisation Lower prices Specialisation Over-dependence Assumptions One advantage of globalisation and free trade is lower prices. Globalisation is the increased integration and interdependence of countries around the world. This is likely to involve countries forming trade agreements, which allow trade to be unrestricted. The diagram below shows the effect of
A-Level Economics Resources Welcome to my A-Level Economics resources. Below you will find everything you need to prepare for your exams. My A-Level Economics notes cover all the key topics for AQA, Edexcel, and Edexcel International A-Level Economics. If you are looking to practise exam questions, you can find past
AQA 15 mark question Explain how perfect competition should lead to outcomes which are both productively and allocatively efficient AQA A-Level Economics Paper 1 June 2021 Explain how perfect competition should lead to outcomes which are both productively and allocatively efficient. (15 marks) Productive efficiency occurs when a firm is producing at the lowest point of their average costs curve (MC=AC). Allocative efficiency occurs when a firm
AQA 10 mark question Explain how the development of renewable sources of energy is likely to affect the market for oil. AQA AS-Level Economics Paper 1 June 2023 Extract C (lines 13–14) states: ‘Concerns about the impact of oil on the environment have led to the encouragement of renewable energy, such as solar, wind and tidal power’. Explain how the development of renewable sources of energy is likely to
AQA 9 mark question Explain why prices of pharmaceutical drugs supplied by a monopoly are likely to be higher than in markets which are more competitive AQA A-Level Economics Paper 1 June 2021 Extract B (lines 9–10) states: ‘After the monopoly’s patent expires, other companies can manufacture and market the same drug under its generic name, usually at a lower price.’ With the help of a diagram, explain why prices of pharmaceutical drugs
Y13 Macroeconomics Notes Terms of Trade | A-Level Economics Notes These revision notes cover everything you need to know about Terms of Trade for A-Level Economics. They're designed for students studying Edexcel A-Level Economics, and Edexcel International A-Level Economics. Written by Jaisul Naik, UCL Economics graduate and A-Level Economics tutor since 2017. Please note:
AQA 10 mark question Explain possible reasons why the price of houses has increased in recent years AQA AS-Level Paper 1 June 2025 Insert Extract C (lines 14–15) states: ‘The UK House Price Index was 152.6 in August 2023, up 52.6% since January 2015.’ Explain possible reasons why the price of houses has increased in recent years. (10 marks) Equilibrium is the price
AQA 9 mark question Explain how the lowering of barriers to entry in the banking market might lead to lower prices and a situation in which banks make normal profit AQA A-Level Economics Paper 2 June 2018 Extract C (lines 10–11) states that ‘There is ample opportunity for new players to enter the sector.’ With the help of a diagram, explain how the lowering of barriers to entry in the banking market might lead to lower prices and
Y13 Microeconomics Notes Market Structures | A-Level Economics Notes These revision notes cover everything you need to know about Market Structures for A-Level Economics. They're designed for students studying AQA A-Level Economics, Edexcel A-Level Economics, and Edexcel International A-Level Economics. Written by Jaisul Naik, UCL Economics graduate and A-Level Economics tutor since
Model Paragraphs Discuss the advantages and disadvantages of monopoly power Allocatively inefficient Dynamically efficient Productively inefficient Economies of scale A monopoly is unlikely to achieve allocative efficiency. Allocative efficiency can be achieved when firms are producing at the point where price = marginal cost (AR = MC). This is beneficial because, if firms are producing at this point, society can benefit from
Model Paragraphs Explain the difference between monopolistic competition in the short-run and the long-run Monopolistic competition consists of low barriers to entry, and there is slight product differentiation between firms. This means that most firms face a relatively elastic average revenue (AR) curve; if firms raise prices, quantity demanded is likely to fall by a larger proportion due to the number of close substitutes
Model Paragraphs Explain the difference between perfect competition in the short-run and the long-run Perfect competition consists of infinite buyers and sellers, homogenous products, perfect information, and no barriers to entry and exit. Each firm is a price-taker so they each face a perfectly elastic average revenue (AR) curve. This means that marginal revenue is also constant. Firms aim to maximise profits, so
Model Paragraphs Evaluate whether profit maximisation is the most realistic business objective Profit maximisation Revenue maximisation Sales maximisation Satisficing There are two main reasons why profit maximisation is usually the most important business objective. Firstly, profit is the entrepreneur's reward for taking the risk to own a business. This risk involves any opportunity cost involved with owning a business. For
Model Paragraphs Behavioural Economics | A-Level Economics Model Paragraph Imperfect information Asymmetric information Bounded rationality Bounded self-control Rules of thumb Anchoring Availability bias Social norms Altruism Explain how imperfect information can lead to market failure. Imperfect information occurs when an economic agent does not have all the information needed to make an optimal decision, and poor information contributes
AQA 10 mark question Explain the likely effects of imposing indirect taxes on alcohol AQA AS-Level Economics Paper 1 June 2022 Extract E (lines 1–2) states: ‘alcohol has traditionally been viewed as a demerit good, subject to high indirect taxes’. Explain the likely effects of imposing indirect taxes on alcohol. (10 marks) An indirect tax is an additional cost of production imposed
AQA 10 mark question Explain two factors that could increase the price of milk AQA AS-Level Economics Paper 1 June 2018 Explain two factors that could increase the price of milk. (10 marks) Markets are a place where buyers and sellers meet to exchange goods and services, such as milk. The market equilibrium is the price and quantity where demand and supply are
AQA 10 mark question Explain how a reduction in corporation tax on firms’ profits might lead to supply-side improvements in the economy AQA AS-Level Economics Paper 2 June 2018 Extract E (lines 18–19) states ‘the 2017 Budget Report stated the intention to reduce the rate of corporation tax further to 17% by 2020.’ Explain how a reduction in corporation tax on firms’ profits might lead to supply-side improvements in
AQA 10 mark question Explain how the accelerator process is likely to affect economic growth AQA AS-Level Economics Paper 2 June 2019 Insert Extract F (lines 8–10) states: ‘Hopefully, firms will feel encouraged by the increases in demand and output, and, according to the accelerator process, this should have positive effects on investment.’ Explain how the accelerator process is likely to affect economic
AQA 10 mark question Explain how the increasing demand for dental care is likely to affect the market for dentists AQA AS-Level Paper 1 June 2019 Insert Extract E (line 9) states: ‘a growing population is increasing the demand for dental care.’ Explain how the increasing demand for dental care is likely to affect the market for dentists. (10 marks) Demand is the number of goods and services that
AQA 25 mark question Evaluate whether the UK government should take more action to improve dental health in the UK AQA AS-Level Economics Paper 1 June 2019 Insert Use the extracts and your knowledge of economics to evaluate whether the UK government should take more action to improve dental health in the UK. (25 marks) Plan * Paragraph 1 * Argument: on the one hand, the government should take more action
Past Papers AQA AS-Level Economics Past Papers 2026 AQA AS-Level Economics Past Paper June 2026 AQA AS-Level Economics Paper 1 June 2026 | Insert | QP | MS | ER AQA AS-Level Economics Paper 2 June 2026 | Insert | QP | MS | ER AQA AS-Level Economics Past Paper June 2025 AQA AS-Level Economics Paper 1 June 2025 | Insert | QP
AQA 25 mark question Evaluate the view that increased government spending on education and training is essential to achieve a long-term improvement in UK macroeconomic performance AQA AS-Level Economics Paper 2 June 2025 Insert Extract C (lines 8–9) states: ‘Increased spending on education and training is likely to be essential to achieve a long-term improvement in macroeconomic performance.’ Use the extracts and your knowledge of economics to evaluate the view that increased government
AQA 25 mark question Evaluate what more, if anything, the Government should do to achieve a sustained increase in investment in the UK economy AQA AS-Level Economics Paper 2 June 2025 Insert Extract F (lines 11–13) states: ‘There are signs that business investment is starting to increase again, but government intervention may be needed to encourage firms to continue investing, to try to ensure the increase in investment is sustained.’ Use the
AQA 25 mark question Evaluate the view that imposing a maximum price for rice is the best way for a rice-importing nation, such as Nigeria, to ensure the affordability of a basic food for its citizens AQA A-Level Economics Paper 1 June 2025 Insert Using the data and your knowledge of economics, evaluate the view that imposing a maximum price for rice is the best way for a rice-importing nation, such as Nigeria, to ensure the affordability of a basic food for its citizens.