"Examine the likely economic effects of X" ??

When an exam question asks this question (usually essay) what things should we focus on that will be affected???

I find such questions really open and vague, i end up rambling on about certain specific things that are not included in the mark scheme and end up losing a lot of marks as a result!

This is especially the case for MICRO, in Macro i'll usually focus on the macroecon objectives, and AD&AS etc... but i'm struggling massively to approach these types of questions on the Micro paper

Could someone help me out please? what areas should i be examining when discussing economic effects?

thanks guys

Economic growth, balance of payments, unemployment and inflation are the main macroeconomic objectives that you should focus on.

Ineguality, budget balance, living standards, environmental sustainability are possible others.

For a level 3 answer and top marks, youre going to need contextualised details that focus on economic agents.

hey, wouldn't these only work for the macro paper? my main weakness is with micro responses Any further suggestions?


thanks for actually bothering to respond

You dont get "economic" effects in a micro paper though.

Do you do Edexcel??

I've come across several questions like that before.. for example like this:



Unless I'm completely misunderstanding what the questions are expecting of me?







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sorry about that aha

Both questions 9e and 10e are the types of questions i am referring to

http://pmt.physicsandmathstutor.com/download/Economics/A-level/Past-Papers/Edexcel-IAL/Unit-1/June%202012%20QP%20-%20Unit%201%20Edexcel%20Economics%20A-level.pdf

Ahh I see. In this instance, theyve specified the economic effects to a certain market e.g. higher education. You could potentially draw a S&D diagram to demonstrate how raising prices leads to excess supply (i.e. not enough students use it). This is something that is on your edexcel spec. alternatively you can refer to the extract which talks about the people affected. Main thing is consideration of economic agents such as students, govt, suppliers (i.e. universities themselves) and what effects they will feel. Two points on how it affects students may be penalised.

That puts it so well, wow I finally understand what areas to tackle

thanks a lot for helping me out dude

When an exam question asks this question (usually essay) what things should we focus on that will be affected???

I find such questions really open and vague, i end up rambling on about certain specific things that are not included in the mark scheme and end up losing a lot of marks as a result!

This is especially the case for MICRO, in Macro i'll usually focus on the macroecon objectives, and AD&AS etc... but i'm struggling massively to approach these types of questions on the Micro paper

Could someone help me out please? what areas should i be examining when discussing economic effects?

thanks guys

You dont get "economic" effects in a micro paper though.

hey, wouldn't these only work for the macro paper? my main weakness is with micro responses Any further suggestions?


thanks for actually bothering to respond

It has been tested before, "economic effects of negative externalities..." edexcel

My point is that the word "economic" is being taken too literally by OP. Learn to read.