Edexcel, AQA & OCR Economics Unit 1 exams
this video shows you how to get to grips with the most important and often examined principle in all unit 1 economics exams. Often times, ensuring you properly explain the market mechanism, ensures you pick the crucial analysis (AO3) marks.
The market mechanism is the unifying concept of unit 1, and it is often used as a synoptic topic in your A2 exams.
Specifically, Edexcel, AQA & OCR Economics Unit 1 exams are split into three sub sections:
- how the market works
- how the market fails, and
- what the government can do to correct market failure,
The market mechanism should be used to address all three parts above. Most frequently, the large mark essay questions in Edexcel, AQA & OCR Economics Unit 1 expect you to talk at length about the price mechanism, do that means more than just defining it. You must apply it.