1. A2 Economics Unit 3: Business Economics & The Distributions of income

2. Context Question One: Examiners Tips Don’t explain the reasons for the changes in the data Remember to compare data series and not just describe them independently of one another Include the units of measurements e.g. 100 tonnes of wheat Watch out for indexes and dual axis Remember there may be a simple calculation question; so remember those calculators!

3. Practice Index Calculations Complete the table below; 200720082009Year X (forecast) UK production of natural gas (GWh)840000810000600000560000 Index of UK production of natural gas100 UK imports of natural gas (GWh)340000410000420000540000 Index of UK imports of natural gas100

4. Practice Index Calculations Complete the table below; 200720082009Year X (forecast) UK production of natural gas (GWh)840000810000600000560000 Index of UK production of natural gas14013510093 UK imports of natural gas (GWh)340000410000420000540000 Index of UK imports of natural gas8198100129

5. Practice Percentage Calculations Complete the table below; 200720082009Year X (forecast) UK production of natural gas (GWh)840000810000600000560000 Annual % change in UK production of natural gas - UK imports of natural gas (GWh)340000410000420000540000 Annual % change in UK imports of natural gas -

6. Practice Percentage Calculations Complete the table below; 200720082009Year X (forecast) UK production of natural gas (GWh)840000810000600000560000 Annual % change in UK production of natural gas --3.6-25.9-6.7 UK imports of natural gas (GWh)340000410000420000540000 Annual % change in UK imports of natural gas -20.62.428.6

7. Context Question Two: Examiners Tips This question is marked in two sections Section one of the question will usually call for an accurate definition/explanation of a concept In addition to this definition/explanation include a relevant example and diagram where applicable to secure 4 marks out of 10 Section two will usually ask you to analyse an issue related to the concept you have just defined/explained! You are awarded one mark for identifying an issue and up to 5 additional marks for ‘each step in the logical chain of argument’ See the next slide for an example of this!

8. Nearly half marks for simply defining and explaining the concept! What this basically means is that your analysis needs to be logical; where each point you make is backed up by economic theory, the extract (context), research and where possible diagrams! Don’t forget the small print!

9. Context Question Two: Practice This question was taken from January’s paper; think of your own question using a simple structure i.e. explanation/definition and analysis; also include your own mark scheme using the previous example to help

10. Essay Questions: Final Comments The final part of the data response (context) questions and the essay questions in section B will make or break your exam performance You have been well drilled on how the marks are allocated for these questions (check your notes) Technique is very important in answering the essay-type questions Whilst anticipating what questions may come up can help you focus your revision, remember that the best answers are those that do exactly that – they answer the question directly (see the examiners comments below)!