Chapter 2: Economic Foundations: Scarcity, Choice, Data and the Economist Toolkit

A-level EconomicsAQA / OCR / Pearson Edexcel / WJEC Eduqas12 topicsIntermediate

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Edexcel A-level Economics Aggregate Supply - Authored Long Answer Questions

Examiner-style long-answer practice with automatic marking, improvement advice and ProofCoach tracking.

4 questions47 marks70.5 min

standard / hard / synoptic

4 markscalculatestandardEdexcel

E23: Evidence for Aggregate Supply

Evidence measure with unit	2020 value	2024 value	Context or unit
UK productivity and real GDP growth data	100.0	108.5	index or percentage as stated
UK productivity growth and supply-side shocks	baseline	changed	UK or global context
productivity, technology or labour-supply improvements shifting long-run aggregate supply	lower impact	higher impact	directional evidence

E23A Calculate or define the key economic measure in Aggregate Supply, using the data evidence provided for UK productivity growth and supply-side shocks.

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9 marksanalysehardEdexcel

Long-run aggregate supply shift: UK productivity improvement

A productivity improvement shifts LRAS from LRAS1 to LRAS2, increasing potential output from Y* to Y2 without inflationary pressure.

E23B Using Figure 1 and your knowledge, analyse the economic effects shown by the diagram below in relation to UK productivity growth and supply-side shocks. In your answer, identify the model, curve labels, any shift shown and the likely impact.

Label the horizontal axis and vertical axis precisely with units.
Label the relevant curves and show the direction of shift.
Label the new equilibrium point and explain the change.

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9 marksexplainstandardEdexcel

E23: Evidence for Aggregate Supply

Evidence measure with unit	2020 value	2024 value	Context or unit
UK productivity and real GDP growth data	100.0	108.5	index or percentage as stated
UK productivity growth and supply-side shocks	baseline	changed	UK or global context
productivity, technology or labour-supply improvements shifting long-run aggregate supply	lower impact	higher impact	directional evidence

E23C Explain how productivity, technology or labour-supply improvements shifting long-run aggregate supply could affect economic agents in the UK economy or global economy.

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25 marksevaluatesynopticEdexcel

E23: Evidence for Aggregate Supply

Evidence measure with unit	2020 value	2024 value	Context or unit
UK productivity and real GDP growth data	100.0	108.5	index or percentage as stated
UK productivity growth and supply-side shocks	baseline	changed	UK or global context
productivity, technology or labour-supply improvements shifting long-run aggregate supply	lower impact	higher impact	directional evidence

E23D Evaluate the extent to which productivity, technology or labour-supply improvements shifting long-run aggregate supply is likely to improve economic performance, using UK productivity and real GDP growth data and your wider economic knowledge.

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1. A-Level Economics Revision: Markets, Macroeconomics and Exam Technique

3. Markets: Demand, Supply, Price Mechanism and Elasticity

Key learning objectives

Understand the key principles behind Economic Foundations: Scarcity, Choice, Data and the Economist Toolkit.
Apply these ideas to exam-style questions.
Recall the essential definitions and key terms.