In my edexcel economics 25 markers i have been saying things like ‘firms may increase their prices which may reduce spending’
and
‘government may increase interest rates to encourage saving’
Also things like ‘apple may have extremely high costs of production, and a government investment may help reduce this, which could result in lower prices’
And
‘A local woodworker may import expensive environmentally friendly wood, so with less regulations costs may decrease ’
Will any of these count as application, if so which ones.
Also i havent really given any real examples for paper 1 and 2 other than broad firm does something and the reaction. Will this hurt my grade a lot? Thanks