2023 Paper 3

• What was the accessibility of the June 2023 exam paper?

  Highly accessible
• What was the main issue for students in the June 2023 exam?

  Questions 2d and 2e caused problems
• What were the mean scores for questions 2d and 2e?

  14.09 and 14.98
• What should students do before answering questions?

  Think carefully about key words
• What is a common mistake regarding normative statements?

  Confusing them with positive statements

  
• What is a normative statement?

  A value judgement
• What is required for full marks on a normative statement?

  Clear distinction between subjective and objective
• What is the structure expected in 8-mark questions?

  2 K, 2 Ap, 2 An, 2 Ev
• What is a common evaluation mistake in answers?

  Stating the opposite without reasoning
• What should diagrams in answers clearly show?

  Fixed and variable costs
• What is essential for evaluating policies in economics?

  Discussing effectiveness and consequences
• What was the mean score for question 1e?

  17.74
• What is a common micro effect discussed in answers?

  Cut in the top rate of income tax
• What is a common evaluation point regarding tax changes?

  Link between fiscal stance and inflation
• What is the breakdown of marks for a 5-mark question?

  2 K, 2 Ap, 1 An
• What mistake do candidates often make regarding financial markets?

  Confusing them with financial analysts
• What is the examiner looking for in answers?

  Brevity and clarity
• What should candidates include in their reasoning?

  Clear analytical chains
• What is a common issue with diagram drawing in exams?

  Lack of practice with drawing diagrams
• What is important when discussing costs in economics?

  Distinguishing between fixed and variable costs
• What should students do to improve their diagram skills?

  Practice drawing diagrams repeatedly
• What is the significance of using diagrams in answers?

  They help illustrate economic concepts
• What is the importance of developing a sustained chain of reasoning?

  It shows depth of understanding
• What should candidates consider when discussing inequality?

  Types of inequality like income and wealth
• What is a common evaluation approach for policies?

  Discussing their effectiveness and time lag
• What is a common mistake regarding the context of tax changes?

  Using corporation tax incorrectly in reasoning
• What is the significance of current knowledge in evaluations?

  It enhances the quality of responses
• What is the importance of clarity in answers?

  It helps convey understanding effectively
• What should candidates do to avoid running out of time?

  Manage time effectively during the exam
• What is the relationship between policies and economic reasoning?

  Policies should be relevant and well-applied
• What is the significance of using data in answers?

  It supports arguments and enhances analysis
• What is the importance of understanding economic terms?

  It prevents confusion in answers
• What should students do to improve their exam performance?

  Practice answering past exam questions
• What is the role of diagrams in economic analysis?

  They visually represent economic relationships
• What is the significance of evaluating answers?

  It demonstrates critical thinking skills
• What should candidates focus on when answering questions?

  Clear reasoning and relevant examples
• What is the importance of understanding the exam format?

  It helps in structuring answers correctly
• What is the significance of using current data in answers?

  It makes arguments more relevant and timely
• What should students do to prepare for diagram questions?

  Practice drawing and labeling diagrams
• What is the importance of clarity in diagrams?

  It ensures accurate representation of concepts