GCE Economics B: assessment support

Past question papers, mark schemes and examiners' reports are available on the qualification page.

These are kept locked for the first 9 months after an examination series and you will require an Edexcel Online username and password to be able to gain access.

Source booklets have now been added to the A level papers. This change will make it easier for students to refer to the sources when writing their answers. Candidates will receive the source booklet as an insert when they sit the exam.

The 2025 question papers are the first to have source booklets and we have also provided revised versions of the 2024 question papers should you want to use these for mocks too.

ResultsPlus analysis for each 2025 question paper.

This is a recorded session which focuses on best practice when using ResultsPlus, alongside ExamWizard to analyse your students’ examination results, and improve your in-house approach to teaching the topics your students find challenging.

The Professional Development Academy summarises the training that is available to you.

At this level, candidates should not assume that a simple definition will achieve a knowledge or understanding mark. Marks are awarded for the use of knowledge to demonstrate understanding. Definitions alone are not rewarded; accurate knowledge and understanding must be used to support application and analysis.

The 4-mark ‘Explain’ questions will always include two application marks, so candidates must ensure that they provide sufficient application to achieve both marks. The AO allocation for this question will always be: 1 knowledge mark, 2 application marks and 1 analysis mark. Candidates should therefore ensure that they use context effectively, whether through their own examples, data or context from the extract, in order to gain both application marks. If the response is generic and could apply to any industry, it can only score a maximum of 2 marks.

Application is the area in which candidates have a tendency to lose marks. Application may include the use of data from the extracts or from a previous question. Simply copying large sections of the extract will not gain application marks; the information must be used to support either knowledge or analysis in order to be rewarded. Candidates often provide only one piece of application, which means that only 1 application mark can be awarded. Application may take the form of data, such as market share figures, or context that is relevant to the industry. Responses that could apply to any industry or market are likely to be generic and can only score a maximum of 2 marks. Candidates should always ensure that two separate pieces of application are included in the response.

The examiner tip is to use the extracts for application. The extracts will provide more than enough context to support the application required for a 4-mark question. Candidates should remember that, for 4-mark ‘Explain’ questions, two points of application are required in order to achieve full marks.
 

For the analysis mark, any consequence or development of the reason given for the knowledge point is rewarded. The analysis point does not need to be in context.
Knowledge and analysis points can be interchangeable. The main distinction is that, for a point to count as analysis, it must include some form of developed consequence. Knowledge may be a simple statement. Candidates should remember that there are no marks for definitions in 4-mark questions, and the knowledge mark will always be awarded for the reason provided.
 

Examiner Tips:

• Do not define any of the key terms and ensure you include two separate pieces of application. Many candidates often omit context, resulting in responses that only demonstrate knowledge and analysis.
• The 'Explain' question can be answered in four sentences. Try to structure your response in the order of the mark scheme. Start with the knowledge mark, followed by your two separate pieces of application and conclude with the analysis mark.
•  Using the name of the firm in the question is not considered Application and it is often common for candidates to only give one piece of Application. Think of the Application as the filling in a sandwich with the Knowledge and Analysis either side of it. Using this structure will ensure you do not write generic responses.
• Be familiar with the mark allocation for 4-mark 'Explain' questions. In this case the marks are: 1 knowledge, 2 application and 1 analysis mark. Read through your answer and ensure that all the marking points have been covered. Are there enough examples? Have you explained how or why? Have you completely answered the question?
• Try to keep a 4 mark-response concise and read though your answer. Would it be possible to guess the question from the response? If not, then it is likely that the question has not been answered.

Quantitative skills are an important part of the linear A Levels. A ‘Calculate’ question requires a calculation made up of four stages: identifying the formula for the AO1 mark, locating the data, substituting the data into the formula, and performing the calculation for the three AO2 marks.

Candidates who calculate the correct answer are awarded 4 marks. Marks may be awarded for showing working, although this is not required if the correct answer is given. It is always advisable to show working because, even if the final answer is incorrect, marks can still be awarded for the formula and correct method. Units do not need to be included in the working, but candidates should check that the correct units are used in the final answer.

Candidates are expected to apply a range of quantitative skills, such as calculating percentage change. If the question asks for a percentage or for an answer to two decimal places, marks will be deducted if the response does not meet that requirement.

Candidates should not lose marks by rounding incorrectly or by omitting the appropriate sign, such as %, £ or $.

It is important that candidates understand the difference between the mean, or average, and the median. This is particularly important when using income data. For example, candidates should consider what it indicates about a data set if the median is significantly lower than the mean.
 

Examiner Tips:

• Always include a formula in your working. This is worth 1 Knowledge mark and could make all the difference in the final grade awarded.
• Show your working. 
• Check the decimal places and correct units have been used. It is very easy to drop marks on these types of questions and rush through them. Always do a sense check.

Correctly labelled diagrams are an essential part of the course, and candidates should use past examination papers to practise drawing them. Candidates should ensure that the correct curve is shifted, with the new equilibrium price and quantity shown on the x- and y-axes. For microeconomic diagrams, only Price and Quantity, or P and Q, should be used for the axes. Candidates should not use Quantity Demanded for the y-axis. The equilibrium should always be labelled on the axes. Candidates should use a ruler and ensure that the diagram is large enough to fill the box provided. These questions assess quantitative skills.

The 4-mark ‘construct’ or ‘draw’ questions will always require correct labelling of the diagram, so candidates must ensure that responses are fully labelled, with equilibrium point(s) shown on the axes. When a shift is required, it must be clear and unambiguous.

To demonstrate knowledge and understanding for the two AO1 marks, candidates are required to draw the supply and demand curves, label them correctly, and ensure that the axes are also labelled correctly.

For application, the AO2 mark is awarded for manipulating the diagram by showing the shift in demand or supply. The analysis mark, AO3, is awarded for identifying the consequence of the manipulation by showing the new equilibrium, indicating the new price and sales volume.

Candidates should not show shifts in both supply and demand, as this will not be awarded full marks. Candidates will only ever be required to shift one curve, and responses showing double shifts can be awarded a maximum of 2 marks, provided the labelling is correct.

Marks are often lost because of incorrect axis labels. The axes must be labelled Price and Quantity, not Quantity Demanded. P and Q are also accepted. It is essential that both the original and new equilibrium price and quantity are labelled on the axes. Arrows are not required, although many candidates use them to indicate the direction of the shift. It is preferable to label the new curve clearly to show the direction of the shift.

The analysis, AO3, mark is awarded for showing the new equilibrium at the market-clearing point, which represents the consequence of the shift.
 

Examiner Tips:

• Use a ruler and make sure the diagram is large enough to fill the box provided.
• Only use Price and Quantity or P and Q for the axes for micro diagrams. Do not use Quantity Demanded for the y axis. 
• Always label the equilibrium on the axes. 

The AO allocation for this question will always be 2 knowledge marks, 2 application marks and 2 analysis marks. Candidates must therefore ensure that they use sufficient context to gain both application marks. Candidates should not define the key terms in the question; instead, they should provide two separate reasons, supported by context and a consequence.

Candidates who provide only one clear point of application will limit the total number of marks they can achieve for this question. It is also worth noting that simply copying the stem of the question cannot be credited for application marks.

Candidates should use paragraphs to indicate clearly to the examiner where a new element of the response begins. This is also a useful technique for longer essay questions.
 

If an ‘Analyse’ question asks for a diagram, the marks are split between 4 marks for a correct diagram and 2 marks for written analysis. For this type of question, where candidates are asked to provide both a diagram and analysis, they should not simply describe the diagram. Instead, they should analyse, in context, why there is a shift in the curve. Examiners are looking for an explanation of why the shift occurs or of its consequences for the market.

The marks for the diagram in a 6-mark question are awarded in the same way as the marks for a diagram in a 4-mark question. Candidates should therefore ensure that the axes and curves are labelled correctly. Only Price and Quantity, or P and Q, will be accepted for the axes.
 

Examiner Tips:

• Try to think of this 6-mark analyse question, where two reasons are asked for, as a 2 x 3-mark question.
• When two factors are asked for each valid factor can achieve 1 knowledge/understanding mark, 1 application mark and 1 analysis mark. Each valid factor is therefore marked separately. 
• If only one valid factor is identified, then a maximum of 3 marks can be achieved.
• Try to use paragraphs to indicate to the examiner where a new reason begins.

Examples of 6/6 answer in examiners' reports:

This specification continues to use marking descriptors for all levels-based questions. It is essential that centres look at these and understand how these are applied. The levels-based mark schemes are applied in a holistic way rather than looking for individual assessment objectives. This means that a candidate who attempts evaluation with some context will not necessarily be placed in the top levels and may only achieve a maximum of level 2 if the evaluation is weak or context is lacking. Far too many candidates are simply copying out large sections of the extracts with an attempt at limited evaluation; this will only achieve lower levels.

How to Find the Correct Mark Using Levels-Based Marking: Questions 1(e), 1(f), 1(g), 1(h), 2 and 3

1. Identifying the Correct Level

The first step in levels-based marking is to decide which level best fits the overall quality of the response. This should be approached using a ‘best-fit’ method. Responses may display features from more than one level, but examiners must use their professional judgement to determine which level most accurately reflects the response as a whole.
For example:
• A single strong paragraph at Level 4 would not on its own justify placing the response in Level 4, but it might support a mark at the top of Level 3, unless the rest of the response is notably weaker.
• An answer that generally matches Level 3 but includes some elements typical of Level 2 may be best placed at the bottom of Level 3.
• Similarly, if a response shows features of both Level 1 and Level 3, the most appropriate placement may be Level 2.

2. Deciding on a Mark Within a Level

Once the correct level has been identified, the next stage is to assign a mark within that level. This process depends on how many marks are available in the level:

Levels with 2 marks:

• Examiners begin with the assumption that the response meets the top of the level and only move to the lower mark if the response just meets the minimum requirements.

Levels with 3 or more marks:
• Examiners start by considering the middle mark in the level (or the upper-middle mark if there is an even number of marks) and then adjust the mark up or down based on how well the response meets the level descriptor.
• Examiners award the top mark when the response fully meets the descriptor and is as strong as can realistically be expected at that level.
• Examiners award the bottom mark when the response just meets the level, with minimal evidence of the required characteristics.
• Examiners use the middle range of marks for responses that meet the level reasonably well, showing a mix of strengths and minor limitations.

The final mark should always reflect the quality of the response in relation to the descriptor, not simply the number of points made. Consequently, a candidate attempting evaluation with some context will not automatically be placed in the top levels; weak evaluation or lack of context may result in a maximum achievement of Level 2. Some candidates are still copying out large sections of the extracts with only limited evaluation, which will result in lower-level marks.

Examiners do not cap or restrict marks based on how a question is answered. For example, marks are not capped for responses that lack application or are generic in nature. No mark or level is restricted for any particular reason. With holistic marking, some parts of a response may be stronger or weaker than others, but examiners assess the overall quality of the response rather than taking an ‘average'.

Examiner Tips

You do not need to give any definitions to score full marks on the levels-based questions. Often this is the starting point for many candidates but definitions just waste valuable time which can be used to answer the question set.

For all levels of response questions (8 or more marks), read through your answer and check that the question has been answered. A good way of doing this is to read the response as if you did not know the question. Then ask, would you be able to tell what the question was by simply reading the response? If not, then the response probably needs more development, focused on the terms of the question.

Become familiar with the Level Descriptors for the 8, 10, 12 and 20-mark questions and know how the higher levels can be achieved by using published past papers, mark schemes and Examiner Reports.

The space provided in the answer book is indicative of the amount of words required and time allocated to the question. Do not spend much more than 10 minutes on a 10-mark question when there are longer questions to tackle in the paper.

You can be asked to draw a diagram within a levels-based question. Make sure that you fully explain the reasoning behind your diagram and give a counter argument as to what it depends on or why this might not be the case.

Diagrams must be accurate. Accurate labels for axes and equilibrium price level and output are basic elements of knowledge and understanding. Practice drawing diagrams to show increases and decreases in AD and AS, with the resulting impact on price level and real output. These can then be used to support analysis and evaluation.

Where questions specifically stipulate the use of data or information provided in a stimulus, students:
• must directly reference, interpret or analyse the information provided in the stimulus
• in addition, may select examples from their own knowledge but these must be relevant and directly connected to the context/issues set out in the stimulus.

Where questions do not specifically stipulate the use of data or information provided in a stimulus, students:
• must select relevant examples from their own knowledge, these must be directly connected to the context/issues set out in the question, and
• may directly reference, interpret or analyse the information provided in any relevant stimulus.

For an 8-mark ‘Discuss’ question, there are three levels. Examiners read the whole response and then decide which level best matches it. They then award marks according to the quality of the response within that level. If a response lacks certain characteristics, examiners will award marks towards the bottom of the level.

The command word ‘Discuss’ is evaluative, so candidates must provide both sides of an economic argument in order to achieve full marks. Candidates should ensure that they present both sides of the argument and use relevant evidence to support each side. A conclusion is not required for an 8-mark ‘Discuss’ question.

The ‘Discuss’ question is always an evaluation question, yet many candidates provide only a one-sided response. Candidates should ensure that they present a balanced assessment. The use of context on both sides of the argument will always enhance the response.

Weaker candidates often provide only a one-sided response and are therefore unable to meet all the requirements of the Level 3 descriptor, particularly the requirement for “balanced awareness of competing arguments”.

An accurate and relevant diagram can form the basis for both analysis and evaluation. In a macroeconomics essay, candidates should consider using one diagram for analysis and a second diagram to support competing arguments.

Level 3 responses are characterised by coherent chains of reasoning, effective use of the extracts, and convincing evaluation.
 

Examiner Tips:

• 'Discuss' is an evaluative command word and therefore requires a two-sided response even if the question asks for the benefits. 
• Balanced evaluation is key to accessing the higher levels and aim for an equal discussion using relevant evidence.
• A conclusion is not required for the 'discuss' question.

Examples of 7 and 8-mark answers can be found in the following examiners' reports:

The command word “Assess” will always require deeper evaluation of an economic concept than the command word “Discuss”.

Context may be drawn from the extracts themselves or from candidates’ own wider reading. Strong responses often demonstrate a sound understanding of economic concepts but may lack context. Therefore, the effective use of extracts or other relevant context can make a significant difference when marking levels-based questions, as examiners take a holistic view when awarding marks.

Candidates should ensure that they include relevant evidence, often referred to as context, on both sides of the argument. Context is often weaker in the counterargument, so candidates should check carefully that this part of the response is not generic.

To reach the higher levels, chains of reasoning need to be well developed. This means explaining, step by step, why or how something might happen.

To achieve Level 4, candidates should demonstrate knowledge and understanding as well as provide coherent chains of reasoning. They should present balanced arguments that demonstrate the validity and significance of competing arguments.
 

Examiner Tips:

• You do not need to give any definitions to score full marks on the levels-based questions.  Often, this is the starting point for many candidates but definitions just waste valuable time  which you can use to answer the question set.
• Try to evaluate as the responses progresses. Donot make competing arguments less significant by locating them just at the end of the response.
• Try to base a conclusion upon previous analysis and evaluation, rather than introducing new points in the conclusion.
• Try and show some perception in your conclusions and do not simply just repeat the points already given in your answer.
• With the level of response questions, it is a good idea to read through your response and try and decide if the examiner could determine the question set from reading the essay. If this is not the case, then it is unlikely that the question has been fully answered. Remember, the 'assess' command word requires a full and balanced awareness of the validity and significance of competing arguments.

Examples of 9 and 10-mark responses can be found in the following examiners' reports:

This is a levels-based question with four levels.

It is advisable to plan a 12-mark response before beginning the full answer.

Candidates should be clear about their main arguments and counterarguments. At the end of each paragraph, they should consider whether they are answering the question. This will help to focus the response and make it more likely to achieve a higher level. Effective use of economic concepts is crucial for achieving the higher levels in this type of question.

Candidates are encouraged to use a range of relevant evidence throughout their response, either from the extracts or from their own examples, to support and demonstrate their chains of reasoning. The conclusion should not simply repeat earlier points.

Candidates should make effective use of data. The extracts are included for a reason, yet many candidates fail to incorporate data into their responses. Using data strengthens a response and helps to contextualise the answer. Examiners see many generic responses or stock answers that cannot access the higher levels. If a question states “firms such as…”, candidates may use their own examples and are not restricted to the firm or firms in the extracts. Wider reading and examples studied in class can make a significant difference when used effectively.

Generic responses cannot achieve full marks. One of the Level 4 descriptors states that “full understanding of the question” is required. Candidates should therefore demonstrate a sound understanding of economic theory and use this knowledge to develop coherent chains of reasoning based on the evidence provided.

As with many extended, levels-based questions, candidates often make unsupported assertions or offer several unexplained points rather than developing coherent chains of reasoning. This commonly results in Level 2 responses.

The structure of the response is important. It is not necessary to begin by defining terms; instead, candidates should answer the question directly and relate their response to the context. They should then develop arguments and counterarguments as the answer progresses.

The most successful conclusions do not need to cover every point made in the essay or introduce a new point. Instead, candidates should make a judgement about the main arguments. For example, they might consider which argument is most important or how the issue might change in the future.

Examiner Tips:

• It is a good idea to briefly plan a 12-mark response before beginning the full answer. Be clear about your main arguments and counter-arguments. At the end of each paragraph ask yourself, am I answering the question? This will help focus the response and make it more likely to achieve a high level. Always try to attempt a conclusion in a 12-mark essay question.
• Do not be afraid to use diagrams in your response even if a diagram is not required in the question. Often diagrams can illustrate an economic concept much more quickly than writing, and examiners do not negatively mark if there are errors in your diagrams.
• Diagrams should be a staple in your 'toolkit' of economic concepts and used appropriately. If you are going to use diagrams in your response, then please do refer to them and do actually use them to support your answer.
• When setting out an argument or chain of reasoning it is always a good idea to be conditional, e.g. say 'it may happen' or 'this may lead to...' rather than ' it will happen' or 'this will lead to...'. This also acts as a prompt to set up a counter argument which is essential to reach the higher levels.
• Try to provide a balanced evaluation where the main arguments for and against are equally weighted. Often we see unbalanced evaluation with one side having more weight. A conclusion is required for the 12 mark questions.
• Make sure you have a specific focus for your evaluation rather than trying to cover too many points. Higher marks are always achieved by having depth rather than a 'kitchen sink' approach.
• A conclusion is a good way to end the longer questions but don't just repeat previously made points. Try and sum up the opposing ideas and add something new by way of evaluation.
• The conclusion must add something to your response and this could be in the form of a judgement as to whether you think there are more positive or negative implications from a particular economic situation.

Examples of high scoring answers in examiners' reports:

The 20-mark questions should allow candidates to make effective use of the wide-ranging data provided, as well as to apply their prior learning to produce balanced and coherent answers. Candidates who fail to use the data provided and instead offer generic responses are unable to access the higher levels in the mark scheme. The 20-mark questions are designed to be open-ended, with no single ‘correct’ answer. Examiners are looking for the ability to construct a logical argument, either using the information provided or drawing on wider reading. It is often disappointing when candidates do not use the current economic climate to support their chains of reasoning. A conclusion is required, but this is often a repetition of earlier points rather than a clear final judgement.

Weaker candidates tend to produce generic and assertive responses to the 20-mark questions. The examination paper provides several extracts to enable candidates to produce a contextualised response. However, many candidates do not use this data effectively and instead produce generic answers. Candidates should always ensure that the examples used to support their arguments are clearly related to the context.

Essays may be supported by candidates’ own examples arising from their study of the subject. However, if a question asks for a response relating to a specific context, the answer is expected to address that context. Purely generic essays are unlikely to achieve Level 3, let alone Level 4, for these more extended questions.

Examiners are looking for relevant evidence, either through the effective use of information from the extracts or through candidates’ own examples. Examiners see many responses with flawed or incorrect economic understanding, which restricts the level an answer can access. Responses that demonstrate accurate knowledge, use relevant evidence, show awareness of competing arguments, and develop correct chains of reasoning are able to access Level 3.

To access the highest marks, candidates need to provide a nuanced and balanced conclusion. This may include reference to factors such as the impact depending on price elasticity of demand, the state of the economy, the magnitude of any change, or time lags.

Candidates should consider how to write a balanced conclusion and base their conclusion on the preceding analysis and evaluation. There may not be a single ‘correct’ final conclusion; for example, further data may be needed, or the time period in question may be too short. In any case, candidates should not conclude an essay with simple, unsupported assertions. Reading essays published in magazines and journals can help candidates understand how effective conclusions are constructed.
 

Examiner Tips

For 20 marks response it is a good idea to create a simple plan at the top of the available space. This can help to ensure that the response is equally balanced and is not one-sided.

Make sure that you use as much of the data provided as possible and try to use your own examples to support arguments. Try to keep up to date with developments in the UK economy, including utilities and transportation, as this is an area subject to recent policy interventions.

Try to organise 20-mark responses around arguments and counter-arguments. Use paragraphs to structure these arguments, so that competing arguments are linked. This can then help to construct a conclusion based on the significance of these competing arguments rather than repetition of earlier points.

Always provide a conclusion for the 12 mark questions but do not simply repeat your previous points. The conclusion must add something to your response and this could be in the form of a judgement as to whether you think there are more positive or negative implications from a particular economic situation.

The conclusion should show awareness of the validity and significance of competing arguments leading to a judgment. It should not simply repeat or summarise points previously given in the answer. As with many of the longer levels of response questions, there is a tendency to make unsupported assertions or offer lots of unexplained points rather than following through coherent chains of reasoning. Make sure your evaluation is balanced and uses the information given rather than copying or paraphrasing information from the extracts.

Conclusions do not have to cover every point made in the essay. A judgement should be made about the main or key arguments. For example, what is most important? How might this change in the future?

Conclusions are important and are the last thing the examiner reads, so make them count. Do not just repeat previous points or summarise your response. Come to a final judgement that answers the question set.

To achieve the highest marks on the 20 mark questions quality should be your focus. It is all about quality rather than quantity. Examiners are not counting the number of points you make and a maximum of 2 arguments per side is more than enough to access the higher levels. If you try to cover too many points, the evaluation becomes too thin and lacks depth and breadth. The 20 mark questions are designed to be open-ended and have a wide range of possible approaches so it is impossible to cover everything in the time you have in the examination. Aim for 1 mark per minute for all questions and demonstrate that you have studied the subject in depth rather than copying out the extracts or using a common sense approach.

Examples of high-scoring responses in examiners' reports: