MASTERING AS LEVEL ECONOMICS FROM BASICS TO BRILLIANCE BY DISHA KALRA.pptx

Skills to master AS Level Economics

1. MASTERING AS LEVEL ECONOMICS SUBJECT CODE -9708 BY DISHA KALRA

2. UNDERSTANDING THE WEIGTAGE OF PAPER 12 AND 22 Paper 1 Multiple Choice – 1 hour 30 multiple choice questions based on the AS Level syllabus content 30 marks Weighting AS Level: 40%

3. CONTINUED.. Paper 2 Data Response and Essay – 1 hour 30 minutes Section A: one data response question (20 marks) Section B: one structured essay from a choice of three (20 marks) Based on the AS Level syllabus content 40 marks Weighting AS Level: SECTION A: 30% + SECTION B: 30%

4. Case study to be referred today 2023 https://bestexamhelp.com/exam/cambridge-international-a-level/economics-9708/2023/9708-s23-qp-22.php 2023- Paper 22 for AS Level Economics _ Subject code 9708

5. Strategy for 2 marker Strategy for 2-mark questions (AO1 – knowledge & AO2 – application) Question style: short definitions, data comparisons, simple diagram explanations. 👉 Example: Q1(a) Compare the government budget balance of Nigeria in 2016 with 2020. [2] Strategy Identify command word (define / compare / calculate). Be concise – 2 clear points (1 mark each). Use data if given (numerical precision is rewarded). No evaluation is required.

6. SAMPLE ANSWER FOR 2 MARKS Sample Answer In 2016, Nigeria had a budget deficit of –3.9% of GDP , whereas in 2020 the deficit worsened to –5.2% of GDP . This means the government’s overspending increased by 1.3 percentage points of GDP over the period. ✅ (Full 2 marks)

7. Strategy for 4-mark questions (AO1, AO2 – some AO3) Question style: Short explanation with a diagram or small cause-effect chain. 👉 Example: Q1(c) Consider the extent to which the removal of fuel subsidies in Nigeria would lead to an increase in inflation. [4] Strategy Define the key concept (subsidy, inflation). Explain mechanism (how subsidy removal → ↑ cost of living). Use a diagram if relevant (shift of AS curve right/left).

8. Sample answer for 4 marks A fuel subsidy lowers production and transport costs. Removing it increases firms’ costs, shifting the AS curve left , causing cost-push inflation . Inflationary pressure is higher because fuel is a key input in production and distribution . However, the extent depends on whether government compensates with other policies (e.g., tax cuts or transfers). MARKING CRITERIA: Full 4 marks: 2 for explanation[chain of analysis], 1 for diagram, 1 for small evaluation.

9. Strategy for 6-mark questions Strategy for 6-mark questions (AO1, AO2, AO3 with some AO4) Question style: Assess / discuss policies or trade-offs. 👉 Example: Q1(d) Assess whether using supply-side policy is the best way to diversify the Nigerian economy away from oil and gas exports. [6] Strategy Define supply-side policy (e.g., improving productivity, infrastructure). Apply to Nigeria (large youth population, informal economy). Explain benefits (↑ LRAS, ↓ unemployment, ↑ competitiveness). Counterpoint (time lag, need for demand-side too). Judgement (short conclusion).

10. Sample answer for 6 marker Supply-side policies, such as improving infrastructure and skills training , can diversify production into export-orientated manufacturing , raising long-run growth. For Nigeria, this may absorb its large youth labour force and reduce unemployment. However, supply-side measures have long implementation lags and may require high government spending which is difficult with a budget deficit . Demand-side support (stimulus or trade liberalisation ) may be needed too. ✅ Full marks: balanced, contextualised , with a short evaluation.

11. Strategy for 8 marker Strategy for 8-mark questions (AO1, AO2, AO3 – strong chains of reasoning, partial AO4) Question style: Explain + consider extent, often with a diagram. 👉 Example: Q2(a) Explain consumer surplus and producer surplus and consider whether a rise in price due to higher costs of production always reduces consumer surplus. [8] Strategy Define & diagram (consumer surplus, producer surplus). Explain concept clearly (area under demand curve above price). Apply scenario (↑ production costs → ↑ price → ↓ consumer surplus). Consider exceptions (inelastic demand → consumer surplus loss small; subsidies may offset). Mini judgement (depends on elasticity and gov’t intervention).

12. Sample answer for a 8 marker Sample Answer Consumer surplus is the difference between the price consumers are willing to pay and the market price; producer surplus is the difference between market price and producers’ minimum acceptable cost. A rise in costs shifts supply left , increasing price and reducing consumer surplus (diagram: demand & supply). The extent of reduction depends on PED . If demand is inelastic , the reduction in consumer surplus is limited. Thus, consumer surplus usually falls, but not always to the same extent. ✅ Marks: 3 (definitions + diagram), 3 (explanation + application), 2 (evaluation).

13. Strategy for 12 marker Strategy for 12-mark questions (AO1, AO2, AO3, AO4 – full evaluation) Question style: “Assess whether…” / “Evaluate the effectiveness…” / long policy comparisons. 👉 Example: Q2(b) Assess whether fixing the maximum price for an essential food is likely to be more effective than making transfer payments to low-income households. [12] Strategy Define both policies (max price, transfer payment). Explain max price → ↓ affordability but may cause shortages & black markets. Explain transfer payments → ↑ purchasing power but may cause fiscal burden/inflationary pressure . Compare effectiveness in short-run vs long-run. Use context (developing economy, low tax revenue). Strong judgement (weigh pros/cons, no one-sided answers).

14. Sample answer for 12 marks Transfer payments , e.g. food vouchers, directly increase household income without distorting prices, but require effective targeting and strong government finances . In Nigeria, where 40% live in poverty and budget deficits are high , max price may be politically attractive but unsustainable long-term . Transfer payments are more effective if funded through broader tax reforms . Overall, a combination may work best: short-run price controls for stability, alongside medium-term transfers to address inequality. ✅ Full 12 marks: clear structure, both sides, contextualized, and judgement.

15. My key takeaways for economics ✨ Key to A* : Always define concepts clearly (AO1). Use diagrams accurately where relevant (AO2). Build chains of reasoning instead of assertions (AO3). Provide balanced evaluation with context (AO4).

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