Overall Paper Verdict

The October/November 2025 Economics (9708) AS Level papers present a highly balanced yet technically rigorous examination. Paper 13 (Multiple Choice) tests precise quantitative interpretations of elasticities, subsidies, and balance of payments adjustments, whilst Paper 23 (Data Response and Essays) demands highly structured macro and micro evaluations. The overall difficulty is firmly set at a moderate level, rewarding students who master diagrammatic accuracy and avoid superficial, non-economic descriptions.

Where the Marks Are Won or Lost

In Section A (Data Response), candidates who scored highly successfully constructed a Production Possibility Curve (PPC) showing an outward shift to reflect potential labor growth, while acknowledging that an ageing demographic could compromise this capacity. Many students lost marks in 1(d) and 1(e) by failing to categorize their arguments cleanly under microeconomic opportunity costs or macroeconomic Aggregate Demand components (specifically consumption, investment, and government spending).

For the Section B and C Essays, the key differentiator between a Level 2 and Level 3 response was the depth of evaluation. In the ginger market scenario (Question 2), higher-scoring papers did not merely list policies like buffer stocks and minimum prices; they explicitly analyzed how these mechanisms stabilize producer incomes, highlighting storage costs and overproduction risks.

Examiner Pitfalls & Analytical Weaknesses

  • Deflation vs. Disinflation: In Paper 13 Question 22, weaker candidates frequently confused a falling rate of positive price growth (disinflation) with a negative price level change (deflation).
  • Diagrammatic Precision: In Paper 23 Question 2(a), failing to show the exact relative shift of both supply and demand curves meant candidates could not convincingly evaluate the final price outcome.
  • One-Sided Evaluations: In 12-mark questions, examiners repeatedly penalized essays that presented only one perspective or lacked a clear, contextualised final judgement.

Preparation Strategy & Future Outlook

For upcoming series, students should focus heavily on the mechanics of monetary policy interventions and exchange rate regimes, which were underrepresented here compared to fiscal and supply-side tools. Practice drawing multi-stage market equilibrium changes, and always structure policy evaluations by contrasting short-term effectiveness against long-term structural strains.