GCSE Economics
Name: ___________________
Teacher: Mr Tarn
Business, Information Technology and Enterprise
Contents
Introduction
2
Exam Specifics
3
Exam Questions
 Case Study Items
4
 Stating and identification questions
5
 Explanation Questions
6
 Analytical and evaluative questions
9
Practice Exam Questions
13
Useful Websites
21
1
1. Introduction
Introduction
Well done on completing Unit 11, Personal Economics. This unit will have equipped you with
the basic tools of an economist helping you to understand your place in and contribution to
the local, national and global economy as consumers, workers and citizens.
In the exam for this unit you will be encouraged to investigate a range of modern issues,
analysing the evidence from different perspectives so as to make reasoned judgements and
informed decisions.
This exam guide will explore the different aspects of the exam and provide opportunities for
you to practice and improve your examination technique.
Hello Young Economist! My name is
Campo. I will offer helpful tips and hints
throughout this guide to ensure you
succeed in your exam!
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2. Exam Specifics
Examination details
Paper: Unit 11: Personal Economics
Date: Friday 21st May 2013
With 70 marks available and 75 minutes to
complete the exam that’s about a minute
for each mark once you have read the Case
Studies and questions!
Time: PM (1pm start)
Length: 1hr 15 minutes
Marks available: 70 marks
Additional Info:
 The marks for questions are shown in brackets.
 You are reminded of the need for good English and clear presentation in your
answers, as you will be assessed for the quality of Written Communication
 You may use a calculator
Exam Structure
The exam is split up into 3 sections
1. Money (30 marks)
2. Work (20 marks)
3. The National and Global Economy (20 marks)
How you will be assessed
These three techniques are also
called Assessment Objectives (AO)
and will be referred to by Examiners
as AO1, AO2 and AO3.
In each of the 3 sections questions will assess your ability to…
1. Recall, select and communicate their knowledge and understanding of concepts,
issues and terminology (20 out of 70 marks).
2. Apply skills, knowledge and understanding in a variety of contexts (25 out of 70
marks)
3. Analyse and evaluate evidence, make reasoned judgements and present
appropriate conclusions (25 out of 70 marks)
3
3. Exam Questions: Case Study Items
Each section of the exam paper covering Money, Work and The National and Global
Economy, starts with a short Case Study Item such as the example below;
You may find it useful to highlight or circle
keywords in the Case Study Item to help
you focus on the key aspects of the
information which has been given to you.
It’s very important you read the Case Study Item carefully and use it throughout the
questions in each section to help you in answering each one. Indeed the Chief Examiner for
the unit highlights this in his latest exam feedback report (see below).
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4. Exam Questions: State & Identify
After being given the Case Study Item you are asked a series of related questions in each
section.
The first and sometimes second questions in the Sections for Money and Work will ask you
to state or identify something (see examples below). Ensure you read the questions
carefully and write in full sentences, checking your spelling and grammar.
Why don’t you have a
go at answering these
two questions!
These questions tend to be answered well by students as they require a simple recall of
knowledge. However marks can easily be dropped if you do not read the question carefully.
This is mentioned by the Chief Examiner in his comments below for question 1(b).
5
5. Exam Questions: Explain
The next questions in the Sections for Money and Work and the first question in the Section
for The National and Global Economy, ask you to explain something (sometimes state and
explain something). These explanation questions require you to apply your skills,
knowledge and understanding in context.
This question is not a general one, it asks you to apply it to Debbie and Alex from the Case
Study Item. If you simply explain the general benefits of drawing up a budget you will only
receive half marks. Look what the Chief Examiner says for this question…
You know what to do now, so give
it a go! Just make sure you write as
neatly as possible so the examiner
can read and mark it!
6
There are usually two or three explanation questions in each section, which increase in
complexity and in terms of the number of marks available. These questions tend to include
some extra information in addition to the Case Study Item (see examples below).
It’s this type of question which may require the use of a calculator, so it’s important you
bring one to the exam.
Look what the Chief Examiner said
about students who answered this
question! Why don’t you have a go
at it using this information to help!
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As mentioned previously there may be further explanation questions in each Section. Below
is a question based on the same Case Study for Debbie and Alex, but this time it’s more
open and worth 6 marks.
In the Chief Examiner’s Report they highlighted that many students for this question ignored
earnings and simply explained Debbie and Alex’s options for spending. By doing this many
students dropped a lot of marks. This may sound repetitive but READ THE QUESTIONS
CAREFULLY and MAKE SURE YOUR RESPONSE ANSWERS THE QUESTION DIRECTLY IN
CONTEXT.
This is your time to shine! Show off your
skills, knowledge and understanding in the
context of Debbie and Alex’s situation to
answer this question
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6. Exam Questions: Analyse & Evaluate
The final question in each section of the exam paper asks you analyse and evaluate a
situation or evidence, often asking you to make reasoned judgements (i.e. recommend
something) and present appropriate conclusions (i.e. come to a final decision based on the
evidence).
If you need to analyse and evaluate something it’s
important you know what those keywords mean. Find
definitions of them both and write them here!
Analyse: …………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
Evaluate: ………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
………………………………………………………………………………………………………………………………………………
These questions are worth 12 marks in each of the three sections. If you do a little math
that’s a total of 36 marks out of the total of 70 available for the exam paper. It’s therefore
very important that you answer these questions well.
In these questions you are also assessed on the quality of your written communication.
Below are some pointers as to what this means in terms of your answers!
2. Have a clear structure to your
answer and include a final
judgement paragraph
1. Use technical economic terms and
language in your answers (use the
term ‘money’ and not ‘dosh’)
4. Write in paragraphs for each
new point. Use correct
conventions for punctuation
(capital letters and full stops)
5. Use correct conventions for
punctuation (capital letters and
full stops)
3. Read through your answer and
check whether it answers the
question directly in context
Top tips for excellent
Written Communication
7. Your writing should be
legible (large enough to read,
neat and tidy)
6. Use the full width of you page and
if you need extra space ask for an
AQA supplementary answer book.
9
Below is an example of the type of question you will find at the end of each section of the
exam paper. It usually includes some extra information to add to the Case Study Item, as is
the case here.
Before answering the question below
have a look at how it is marked by the
examiner on page 12!
It’s me again…each option you
analyse and evaluate should form
a separate paragraph! Stick to
using paragraphs for all extended
questions!
10
You will drop 6 out of the 12 marks available for
these extended questions if you don’t have a
final judgement paragraph!
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The examiner responsible for marking your paper will read your answer to the final question
thoroughly.
The first step they will take is to decide on a level based on your answer. If for example you
apply your knowledge to analyse the different options to Debbie and Alex (i.e. in context)
you will achieve a Level 3, recording 5 to 6 marks depending on the quality of your answer.
Level
L3
L2
L1
Descriptor
Analyses and applies
knowledge of the
different option(s) to
Debbie and Alex
Describes features of
the different options.
Basic understanding
of the option(s) is/are
demonstrated.
Marks
Assessment
Objective
5-6
AO3
3-4
AO2
1-2
AO1
L0
No valid response.
0
The next step the examiner will take is to assess both the quality of your written
communication, as well as your analytical and evaluative skills to make reasoned
judgements and present appropriate conclusions (i.e. Assessment Objective 3)
When deciding on the level to be awarded for Assessment Objective 3, they will consider
the degree to which you order, structure and communicate your ideas. You need to be
aiming for Level 2 (i.e. E2) to achieve top marks (see below).
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7. Practice Exam Questions
Using the guidance which has been given so far, answer the questions for final two sections
of the exam on Work and The National and Global Economy.
Did you highlight
keywords from the
Case Study?
13
These two questions only ask for
ONE reason/factor, so make sure
you explain it thoroughly in
context!
14
Re-read the Case Study and highlight keywords
which will help Debbie make the best choice; and
include these to support your analysis and
evaluation, remembering to include a final
judgement paragraph!
15
16
You will only be awarded for your first
reason in this question, so make sure
you select one which you can explain
thoroughly!
17
A minimum of three reasons
need to be explained to achieve
the full 6 marks for this
question!
18
Structure your answer in paragraphs,
evaluating your points as you go! Include
a final judgement paragraph!
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That’s all the questions answered, well
done! You now know what to expect in
the exam; all that is left for you to do is
REVISE using your class folders and
student workbooks!
It’s always a good idea to supplement your
revision with research. The internet has some
great websites to help you with various
economic concepts and contexts. Check out
some of the useful websites on the next page!
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8. Useful Websites
1. Tutor2u: http://tutor2u.net
a. Great search function for concepts, topics
and contexts
b. Revision Presentations, videos, notes and
activities on key economic topics
c. A GCSE Economics Blog especially useful for
contemporary economic issues (e.g. ethical
economics)
2. Biz/ed:
http://www.bized.co.uk/learn/economics/index.htm
a. Great search function for concepts, topics and
contexts
b. Some useful revision Presentations and notes on key
economic topics
3. Money Advice Service:
http://www.moneyadviceservice.org.uk/yourmoney/
a. Great search function for all money matters
b. An invaluable source of information for all
topics covered in the Money Section of the
course (e.g. Saving, Loans, Pensions)
4. Directgov: http://www.direct.gov.uk/en/index.htm
a. Great search facility for all financial matters
b. Great source of information for all topics
especially our section on Work
5. The Fairtrade Foundation: http://www.fairtrade.org.uk/
a. Useful search function for countries, products and
businesses
b.
A great source of information on all Fair Trade and
ethical spending/production issues
6. The Times 100 Case Studies: http://businesscasestudies.co.uk/
a. Great keyword search facility
b. 100 business case studies with information related to some of the topics we
have covered on the course
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