Edexcel A-level Economics (A) 2022 paper 1 predictions

Watch this thread
Azxyy
Badges: 2
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#1
Report Thread starter 1 month ago
#1
Join our Economics Paper 1 2022 chat and find out how others got on here!

Hi,

Since paper 1 for edexcel econ is this coming Monday, what are the predicted questions that people think might come up, and any other predicted info such as extracts and whatnot

Thanks!
0
reply
harveyru
Badges: 6
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#2
Report 1 month ago
#2
idk
0
reply
mkneebone04
Badges: 4
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#3
Report 1 month ago
#3
(Original post by Azxyy)
Hi,

Since paper 1 for edexcel econ is this coming Monday, what are the predicted questions that people think might come up, and any other predicted info such as extracts and whatnot

Thanks!
Some 25 marker possibilities I have been planning/researching based on the advanced information:
- assessing contestability in a market of your choice
- government intervention to increase contestability
- government intervention in market structures (oligopoly, monopoly)
- business growth (benefits/drawbacks of different types and maybe government intervention, possibly to what extent is XYZ a constraint on business growth)
- comparing business objectives in different markets - for example evaluate that profit maximisation is the primary objective in an industry of your choice (or specific market structure)
- efficiency - maybe discussing efficiency in different markets like evaluating that a monopoly is always inefficient (can't think of better wording off the top of my head)
- Market structures and their impacts on consumers/suppliers/employees/firms
- Maybe market structure and reasons for non-competitive behaviour but not sure how that would be worded honestly
- And possibly government intervention + externalities
All points above discussing government intervention could consider government failure too

It looks like a lot but many of them link together/overlap significantly - research on one industry area could be applied to lots of different questions!

General application areas that could come up are energy markets, enviromental policies, general policies to reduce externalities, mergers/acquisitions in an industry and almost definitely a reference to oligopolies/monopolies in some form. For the labour market - labour supply factors/immobility is on the advanced information but I don't think it will be a 25 marker as it was already asked in 2019 and 2021 but don't take my word for that
Last edited by mkneebone04; 1 month ago
9
reply
y24s
Badges: 1
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#4
Report 1 month ago
#4
Do you have any specific industry’s to use for application?
0
reply
LadBaby
Badges: 1
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#5
Report 1 month ago
#5
I reckon there will be a 25 marker on supply of labour
1
reply
Lujxin.
Badges: 7
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#6
Report 1 month ago
#6
I doubt so as thats heavily contented in paper 3 + even in scenario it does u can choose the second option if u dont have as much knowledge to answer
(Original post by LadBaby)
I reckon there will be a 25 marker on supply of labour
1
reply
mkneebone04
Badges: 4
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#7
Report 1 month ago
#7
(Original post by y24s)
Do you have any specific industry’s to use for application?
Idk if this is helpful to you but I attached my micro app research doc - it's quite long though! I barely know any of it tbh I spent too long researching rather than actually revising but oh well
My main industry areas are UK energy, UK supermarkets, UK airlines and some assorted general facts about government intervention/labour market. I also did a bit on the banking industry but I don't think it's included in the document.
Attached files
0
reply
Lujxin.
Badges: 7
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#8
Report 1 month ago
#8
do u have the points for each question ?
(Original post by mkneebone04)
Some 25 marker possibilities I have been planning/researching based on the advanced information:
- assessing contestability in a market of your choice
- government intervention to increase contestability
- government intervention in market structures (oligopoly, monopoly)
- business growth (benefits/drawbacks of different types and maybe government intervention, possibly to what extent is XYZ a constraint on business growth)
- comparing business objectives in different markets - for example evaluate that profit maximisation is the primary objective in an industry of your choice (or specific market structure)
- efficiency - maybe discussing efficiency in different markets like evaluating that a monopoly is always inefficient (can't think of better wording off the top of my head)
- Market structures and their impacts on consumers/suppliers/employees/firms
- Maybe market structure and reasons for non-competitive behaviour but not sure how that would be worded honestly
- And possibly government intervention + externalities
All points above discussing government intervention could consider government failure too

It looks like a lot but many of them link together/overlap significantly - research on one industry area could be applied to lots of different questions!

General application areas that could come up are energy markets, enviromental policies, general policies to reduce externalities, mergers/acquisitions in an industry and almost definitely a reference to oligopolies/monopolies in some form. For the labour market - labour supply factors/immobility is on the advanced information but I don't think it will be a 25 marker as it was already asked in 2019 and 2021 but don't take my word for that
0
reply
nessy7
Badges: 6
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#9
Report 1 month ago
#9
hi hi thanks for this btw, when u say market structures do u feel like natural monopoly could be an option? i don't know if they mention enough things about it in the spec for it to be a 25 marker but at the same time the econ spec is broad anyways
(Original post by mkneebone04)
Some 25 marker possibilities I have been planning/researching based on the advanced information:
- assessing contestability in a market of your choice
- government intervention to increase contestability
- government intervention in market structures (oligopoly, monopoly)
- business growth (benefits/drawbacks of different types and maybe government intervention, possibly to what extent is XYZ a constraint on business growth)
- comparing business objectives in different markets - for example evaluate that profit maximisation is the primary objective in an industry of your choice (or specific market structure)
- efficiency - maybe discussing efficiency in different markets like evaluating that a monopoly is always inefficient (can't think of better wording off the top of my head)
- Market structures and their impacts on consumers/suppliers/employees/firms
- Maybe market structure and reasons for non-competitive behaviour but not sure how that would be worded honestly
- And possibly government intervention + externalities
All points above discussing government intervention could consider government failure too

It looks like a lot but many of them link together/overlap significantly - research on one industry area could be applied to lots of different questions!

General application areas that could come up are energy markets, enviromental policies, general policies to reduce externalities, mergers/acquisitions in an industry and almost definitely a reference to oligopolies/monopolies in some form. For the labour market - labour supply factors/immobility is on the advanced information but I don't think it will be a 25 marker as it was already asked in 2019 and 2021 but don't take my word for that
0
reply
lilac_26
Badges: 11
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#10
Report 1 month ago
#10
Are you guys revising wage differentials and demand for labour and stuff because it’s not on the advance information but I’m worried it’ll come up ? Wage differential/ MRP diagrams and stuff won’t come up right ?
0
reply
marghe.sacchi14
Badges: 8
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#11
Report 1 month ago
#11
nooooooo, they would have told us to revise demand for labour
(Original post by lilac_26)
Are you guys revising wage differentials and demand for labour and stuff because it’s not on the advance information but I’m worried it’ll come up ? Wage differential/ MRP diagrams and stuff won’t come up right ?
0
reply
jxn2234
Badges: 9
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#12
Report 1 month ago
#12
what do u think could come up for labour since theyve specifically only included supply in this paper? im thinking maybe a 10 marker on factors influecing supply or the elasticity of supply but im wondering how theyd do this without including demand or wage determination
1
reply
jxn2234
Badges: 9
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#13
Report 1 month ago
#13
(Original post by mkneebone04)
Idk if this is helpful to you but I attached my micro app research doc - it's quite long though! I barely know any of it tbh I spent too long researching rather than actually revising but oh well
My main industry areas are UK energy, UK supermarkets, UK airlines and some assorted general facts about government intervention/labour market. I also did a bit on the banking industry but I don't think it's included in the document.
thank u so much this is so useful. hopefully ill have some time to go over it before tomorrow
0
reply
Nik3e
Badges: 3
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#14
Report 1 month ago
#14
if i remember correctly, natural monopoly was a 15 mark question in 2020 so i doubt they would ask us a question on it so soon
0
reply
mkneebone04
Badges: 4
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#15
Report 1 month ago
#15
(Original post by nessy7)
hi hi thanks for this btw, when u say market structures do u feel like natural monopoly could be an option? i don't know if they mention enough things about it in the spec for it to be a 25 marker but at the same time the econ spec is broad anyways
I actually did a bit of research on natural monopolies this morning lol. I think I would talk about natural monopolies in a question about business objectives for monopolies.

For example, profit maximisation versus enviromental concerns for UK water as there's lots of information online. Below I made a messy plan of what I would write about (mainly just app not the actual economic theory behind it), apologies if it's sort of unreadable - I am dyslexic
KAA 1 profit maximisation: Thames water profits and dividends (15-19% over 11 years). Greenwich Uni say in last decade the 9 main water companies made £18.8bn post-tax profits, paid out £18.1bn in dividends and estimated that English customers pay in total £2.3bn more a year than if the utility companies had remained under state ownership, monopoly market with extremely high barriers to entry so can charge high prices within reason
EV 1: Long term the level of profit a company can access may reduce - profit maximisation depends on regulatory body Ofwat (RPI-k) and Ofwat attempting to deregulate market Sep 2016 Albion water in Wales example
KAA2: enviromental concerns: Ofwat investigating 5 firms for wastewater treatment in 2022 - could fine up to 10% annual turnover for sewage leakages, March 2017 fine of £20.3M Thames Water after 1.4bn sewage leaks over a number of years. Thames water most heavily fined water company in UK for pollution 2005-13, Government's Storm Overflows Discharge Reduction plan to cut sewage overflow into rivers by 40% by 2040 - likely to increase penalties to meet that target (increasing AC, decreasing investor confidence) - could start profit satisficing to meet enviromental objectives in SR. Waste-water capital investment fallen by 19% in real terms since privatisation
EV2: Fines not large enough incentive to cut enviromental externalities - cost of investment into reducing enviromental policies may be larger than the fine for not doing so - Laffer curve taxation diagram
Conclusion: Profit maximisation likely to be primary objective as firms have been fined for enviromental problems and sewage leaks for decades - however depends on future government/Ofwat regulations+fines on supernormal profit and sewage externalities respectively
0
reply
smzino24
Badges: 3
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#16
Report 1 month ago
#16
what is government intervention in oligopolies? i know for monopolies its like price caps, profit caps, performance targets and quality checks but how does the government intervene in an oligopoly? Any help much appreciated
1
reply
nessy7
Badges: 6
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#17
Report 1 month ago
#17
(Original post by mkneebone04)
I actually did a bit of research on natural monopolies this morning lol. I think I would talk about natural monopolies in a question about business objectives for monopolies.

For example, profit maximisation versus enviromental concerns for UK water as there's lots of information online. Below I made a messy plan of what I would write about (mainly just app not the actual economic theory behind it), apologies if it's sort of unreadable - I am dyslexic
KAA 1 profit maximisation: Thames water profits and dividends (15-19% over 11 years). Greenwich Uni say in last decade the 9 main water companies made £18.8bn post-tax profits, paid out £18.1bn in dividends and estimated that English customers pay in total £2.3bn more a year than if the utility companies had remained under state ownership, monopoly market with extremely high barriers to entry so can charge high prices within reason
EV 1: Long term the level of profit a company can access may reduce - profit maximisation depends on regulatory body Ofwat (RPI-k) and Ofwat attempting to deregulate market Sep 2016 Albion water in Wales example
KAA2: enviromental concerns: Ofwat investigating 5 firms for wastewater treatment in 2022 - could fine up to 10% annual turnover for sewage leakages, March 2017 fine of £20.3M Thames Water after 1.4bn sewage leaks over a number of years. Thames water most heavily fined water company in UK for pollution 2005-13, Government's Storm Overflows Discharge Reduction plan to cut sewage overflow into rivers by 40% by 2040 - likely to increase penalties to meet that target (increasing AC, decreasing investor confidence) - could start profit satisficing to meet enviromental objectives in SR. Waste-water capital investment fallen by 19% in real terms since privatisation
EV2: Fines not large enough incentive to cut enviromental externalities - cost of investment into reducing enviromental policies may be larger than the fine for not doing so - Laffer curve taxation diagram
Conclusion: Profit maximisation likely to be primary objective as firms have been fined for enviromental problems and sewage leaks for decades - however depends on future government/Ofwat regulations+fines on supernormal profit and sewage externalities respectively
thats a rlly good plan, with inequalities and laffer tho is that not more macro than micro I always get confused why its mentioned in paper 1 sometimes
0
reply
nessy7
Badges: 6
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#18
Report 1 month ago
#18
(Original post by smzino24)
what is government intervention in oligopolies? i know for monopolies its like price caps, profit caps, performance targets and quality checks but how does the government intervene in an oligopoly? Any help much appreciated
i think its pretty much the same things as monopolies and oligopolies both are capable of making supernormal profit in the long run, you could just tailor it more whent talking about regulation e.g. collusion
0
reply
mkneebone04
Badges: 4
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#19
Report 1 month ago
#19
(Original post by nessy7)
thats a rlly good plan, with inequalities and laffer tho is that not more macro than micro I always get confused why its mentioned in paper 1 sometimes
From what I've been taught you can use the Laffer curve in micro specifically to evaluate the effectiveness of taxation/government intervention. BUT it needs to be in context of the specific industry i.e. alcohol taxes past optimum taxation levels may decrease effectiveness as people switch to smuggling alcohol or illegally brewing it at home in black markets.
0
reply
marghe.sacchi14
Badges: 8
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#20
Report 1 month ago
#20
(Original post by smzino24)
what is government intervention in oligopolies? i know for monopolies its like price caps, profit caps, performance targets and quality checks but how does the government intervene in an oligopoly? Any help much appreciated
The government could break up dominant firms into many other smaller ones.
Last edited by marghe.sacchi14; 1 month ago
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest

Were exams easier or harder than you expected?

Easier (51)
26.02%
As I expected (65)
33.16%
Harder (72)
36.73%
Something else (tell us in the thread) (8)
4.08%

Watched Threads

View All