Economic Growth

OCR

GCSE

Objectives

Exam Tips

Pitfalls

Key Terms

Mark Points

Key skills and knowledge for this topic

Award marks for explicit definitions of Gross Domestic Product (GDP) and Real GDP.
Credit logical chains of reasoning (AO3) linking factors of production to increased output.
Responses must distinguish between short-run growth (AD shifts) and long-run growth (AS shifts).
Evaluation must weigh benefits (higher living standards, fiscal dividends) against costs (inflation, environmental externalities).

Key points examiners look for in your answers

Award marks for explicit definitions of Gross Domestic Product (GDP) and Real GDP.
Credit logical chains of reasoning (AO3) linking factors of production to increased output.
Responses must distinguish between short-run growth (AD shifts) and long-run growth (AS shifts).
Evaluation must weigh benefits (higher living standards, fiscal dividends) against costs (inflation, environmental externalities).

Expert advice for maximising your marks

💡In 'Calculate' questions, always show the working for percentage change; marks are often awarded for method even if the final figure is incorrect.
💡For 6-mark 'Analyse' questions, provide two distinct, developed chains of reasoning linked to the context (AO2).
💡In 12-mark 'Evaluate' questions, ensure the conclusion directly answers the question and is supported by prior analysis, not just a summary.
💡Use specific economic terms like 'negative externalities' or 'inflationary pressure' rather than vague phrases like 'bad for the environment' or 'prices go up'.

Pitfalls to avoid in your exam answers

Confusing a 'fall in the rate of growth' with 'negative growth' (recession).
Failing to adjust for population changes when discussing standard of living (GDP vs GDP per capita).
Asserting that economic growth automatically leads to equal distribution of income without qualification.

Comprehensive revision notes & examples

How questions on this topic are typically asked

Calculate

Explain

Analyse

Evaluate

Discuss

State

Practice questions tailored to this topic