Edexcel A-level
Economics LATEST
2025 EXAM WITH
QUESTIONS AND
CORRECT
VERIFIED
ANSWERS GRADED
A+
,what are the limitations of GDP- ED -
ANSWER-Environmental degradation- Critics
have argued that GDP fails to consider whether
economic activity is sustainable, or the damage
it might do to the natural world
what are the limitations of GDP- C - ANSWER-
Comparisons- Different estimation techniques
and purchasing power make it difficult to make
international/historical comparisons
what are the limitations of GDP- H - ANSWER-
Happiness- In 2010, the ONS started
measuring well-being alongside economic
growth. This measures health, relationships,
education and skills, as well as personal
finances and the environment
Easterlin Paradox - ANSWER-Increases in a
country's per capita income does not
necessarily lead to an increase in
happiness.There is little direct relationship
within countries. Other factors are more
important determinants such as social
connections.
,working age population - ANSWER-all those
between the ages of 16-64 years.
Labour force - ANSWER-all those able and
willing to work
employment - ANSWER-the proportion of the
working-age population that is working
unemployment - ANSWER-the proportion of the
working-age population that is actively seeking
work but not working
underemployment - ANSWER-employed but
seeking more hours
- not doing work that makes use of their full
skills and abilities
Ways to measure unemployment - ANSWER-
Claimant count and international labour
organisation
, Claimaint Count - ANSWER-Records the
number of people claiming unemployment-
related benefits
Positives and negatives of claimant count -
ANSWER-Positive: Easy and cheap to collect
Negatives: May be susceptible to political
manipulation
-Exclude people who are out of work, actively
seeking work but don't claim
-Fraud could lead to overestimating population
International Labour Organisation - ANSWER-
Surveys and estimated the number of people
who are without a job + actively seeking work +
available to start work in the next two weeks
Positives and negatives of the international
labour organisation - ANSWER-Positives: More
accurate
- Based on international standards
Negatives: More costly to
compile
-Only need to work for 1 hour a week to be
counted as employed
Economics LATEST
2025 EXAM WITH
QUESTIONS AND
CORRECT
VERIFIED
ANSWERS GRADED
A+
,what are the limitations of GDP- ED -
ANSWER-Environmental degradation- Critics
have argued that GDP fails to consider whether
economic activity is sustainable, or the damage
it might do to the natural world
what are the limitations of GDP- C - ANSWER-
Comparisons- Different estimation techniques
and purchasing power make it difficult to make
international/historical comparisons
what are the limitations of GDP- H - ANSWER-
Happiness- In 2010, the ONS started
measuring well-being alongside economic
growth. This measures health, relationships,
education and skills, as well as personal
finances and the environment
Easterlin Paradox - ANSWER-Increases in a
country's per capita income does not
necessarily lead to an increase in
happiness.There is little direct relationship
within countries. Other factors are more
important determinants such as social
connections.
,working age population - ANSWER-all those
between the ages of 16-64 years.
Labour force - ANSWER-all those able and
willing to work
employment - ANSWER-the proportion of the
working-age population that is working
unemployment - ANSWER-the proportion of the
working-age population that is actively seeking
work but not working
underemployment - ANSWER-employed but
seeking more hours
- not doing work that makes use of their full
skills and abilities
Ways to measure unemployment - ANSWER-
Claimant count and international labour
organisation
, Claimaint Count - ANSWER-Records the
number of people claiming unemployment-
related benefits
Positives and negatives of claimant count -
ANSWER-Positive: Easy and cheap to collect
Negatives: May be susceptible to political
manipulation
-Exclude people who are out of work, actively
seeking work but don't claim
-Fraud could lead to overestimating population
International Labour Organisation - ANSWER-
Surveys and estimated the number of people
who are without a job + actively seeking work +
available to start work in the next two weeks
Positives and negatives of the international
labour organisation - ANSWER-Positives: More
accurate
- Based on international standards
Negatives: More costly to
compile
-Only need to work for 1 hour a week to be
counted as employed
