Difficulty verdict

This series is a 3 out of 5. Both papers are accessible to a well-prepared candidate. The multiple-choice sections mostly test definitions and simple applications, and the 2-mark calculations are routine percentage, average, difference or exchange-rate sums. The marks that separate grades are the six 6-mark evaluation questions (marked with an asterisk) and the six 6-mark analysis questions that call for a diagram or a chain of reasoning.

Where the marks are

  • Limitations of markets (28 marks) is the biggest block. A whole data-response question on externalities, taxes and subsidies sits on Paper 2, with a smaller one on Paper 1.
  • Balance of payments (20 marks) is a whole question on the current account, covering data reading, causes and evaluating its importance.
  • Supply (19 marks) mainly comes from one Paper 1 question on elasticity, supply curves and revenue calculations.
  • Economic growth and development (14 marks) and Globalisation (10 marks) come from the final Paper 2 question.
  • Competition, price and the role of markets, interest rates and the labour market make up most of the rest.

Common pitfalls (inferred from the mark scheme)

  • Not answering the question set. Several mark scheme notes warn that the question is about consumers, not the firm, or about producers, not workers. Others say a response is not about profit or revenue.
  • Missing or poor diagrams. On the 6-mark diagram questions, 5 or 6 marks are only available with a correctly drawn and labelled diagram that is linked to the analysis.
  • One-sided evaluation. The top evaluation marks need a supported judgement that addresses 'the extent to which' or the named concept. Listing points on one side caps the mark at 2.
  • Ignoring the extract. Application marks need specific data or details from the extract, not generic theory.
  • Calculation slips. Own-figure-rule credit is capped at 1 mark, so show the working and units.

Strategy

Allow about 1 minute per multiple-choice question and about 23 minutes per 20-mark question. Spend roughly 8 to 10 minutes on each 6-mark evaluation answer. For analysis, always draw a diagram, label it and refer to it. For evaluation, finish with a clear judgement that uses words such as 'depends on'.

Prediction

Over the earlier series, Fiscal policy, Monetary policy, Price stability, Supply side policies and the Labour market were tested lightly in 2025 and rotate in and out. Supply side policies have been close to absent for four series and are the most overdue. Low unemployment, Fair distribution of income and Economic growth have swung widely, so revise them too. Elasticity, supply and demand diagrams, externalities and the balance of payments recur almost every year and are safe core revision.