AQA GCSE Economics
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Explore your topics
51 study areas
Economic activity1 topic
The factors of production1 topic
Making choices1 topic
Resource allocation4 study areas
How prices are determined7 study areas
Production, costs, revenue and profit4 study areas
Competitive and concentrated markets5 study areas
Market failure3 study areas
How the economy works24 study areas
- How the economy works4 objectives
- Introduction to the national economy1 objective
- Interest rates, saving, borrowing, spending and investment9 objectives
- Government income and expenditure8 objectives
- Government objectives1 objective
- Economic objectives of the government9 objectives
- Economic growth6 objectives
- Employment and unemployment6 objectives
- Inflation and price stability11 objectives
- Balance of payments7 objectives
- Distribution of income8 objectives
- How the government manages the economy1 objective
12 of 24 shown
Course topics1 topic
Assessment and exam guidance
What Gets Top Grades
Knowledge & Understanding
Demonstrates comprehensive and accurate knowledge
- Uses correct subject-specific terminology
- Shows detailed understanding of concepts
- Makes accurate connections between topics
- Demonstrates depth beyond surface-level knowledge
Application
Applies knowledge effectively to new contexts
- Selects relevant knowledge for the question
- Adapts understanding to unfamiliar scenarios
- Uses examples appropriately
- Shows awareness of context
Analysis & Evaluation
Develops sophisticated analytical arguments
- Constructs logical chains of reasoning
- Considers multiple perspectives
- Weighs evidence to reach justified conclusions
- Acknowledges limitations and nuances
Key Command Words
Give a single fact or term
Name, select, or recognise
Set out main features briefly
Give an account of what something is like or what happens
Give reasons with developed cause→effect chains
State similarities AND differences (both required)
Examine in detail showing cause→effect→consequence chains
Weigh up BOTH sides, reach JUSTIFIED conclusion
Make judgments about importance with justification
Show formula→substitution→calculation→answer with units
Tips and common mistakes
Common Exam Mistakes
Pitfalls to avoid in your exams
- •Confusing the definition of factor markets with product markets
- •Failing to distinguish between the benefits and costs of specialisation for different stakeholders (e.g., worker vs. firm)
- •Misidentifying the primary, secondary, and tertiary sectors in the context of the UK economy
- •Confusing a shift of the demand/supply curve with a movement along the curve
- •Incorrectly calculating percentage changes for elasticity
- •Failing to correctly identify the impact of complementary and substitute goods on market equilibrium
- •Misinterpreting the relationship between price changes and total revenue for elastic vs inelastic goods
- •Confusing production with productivity
Top Examiner Tips
Expert advice for exam success
- •Ensure you can clearly define the difference between a good and a service
- •Be prepared to explain how specialisation leads to the need for exchange
- •Use real-world examples when discussing the primary, secondary, and tertiary sectors in the UK
- •Always label axes correctly (Price on y-axis, Quantity on x-axis) when drawing diagrams
- •Practice calculating PED and PES using the formula: percentage change in quantity divided by percentage change in price
- •Use supply and demand diagrams to support written explanations of price changes
- •Ensure you can identify the difference between a movement along a curve (caused by price) and a shift of a curve (caused by other factors)
- •Ensure you can perform calculations for costs, revenue, and profit accurately as these are frequently tested in quantitative sections
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