Economic Methodology and the Economic Problem | AQA A-Level Economics (7136)
Economic Methodology and the Economic Problem
- 31 questions
- 3 subtopics
- Paper 1: Markets and market failure, and available on Paper 3
- Paper 1 and Paper 3
Economic methodology and the economic problem is examined on Papers 1 and 3, and is where the subject starts.
It sets out what kind of discipline economics is, the scarcity that forces every choice, and the diagram used to show it.
Sample questions from Economic Methodology and the Economic Problem
Answer each one closed book first, then open the answer.
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Economics as a social science, and positive and normative statements
What is a positive statement in economics?
Show the answer
A positive statement is an objective, factual claim that can be tested and verified or refuted with evidence. -
Economics as a social science, and positive and normative statements
Give an example of a normative economic statement.
Show the answer
'The government should reduce unemployment' – this is based on a value judgement about what ought to happen. -
The economic problem, factors of production and opportunity cost
What does 'land' refer to as a factor of production?
Show the answer
Land includes all natural resources used in production. -
The economic problem, factors of production and opportunity cost
How is the environment classified in economics?
Show the answer
The environment is classified as a scarce resource. -
Production possibility diagrams
If an economy moves from one point to another along its production possibility boundary, what economic concept does this movement demonstrate?
Show the answer
It demonstrates opportunity cost, as producing more of one good requires sacrificing some quantity of the other good. -
Production possibility diagrams
What would happen to a production possibility boundary if a country discovered significant new natural resources?
Show the answer
The boundary would shift outward, representing an increase in productive capacity and potential economic growth.
The 3 subtopics
One subtopic is one session. Work down the list.
| Subtopic | What it covers | Questions |
|---|---|---|
| Economics as a social science, and positive and normative statements | Economics as a social science, the difference between positive and normative statements, and the role of value judgements. | 9 |
| The economic problem, factors of production and opportunity cost | Scarcity and choice, the four factors of production, the three economic decisions, and opportunity cost. | 12 |
| Production possibility diagrams | Reading a production possibility diagram, and what points on, inside and beyond the boundary mean. | 10 |
How the guide is worked
Answering a question from memory stores it far better than reading the answer again. The guide runs that as a fixed procedure on one subtopic at a time, about twenty minutes a session.
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Step 1 · Closed book
Cover the answers. Work through one subtopic and write down what you can. Leave blanks where you have nothing.
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Step 2 · Open book
Go back to the top. Read each printed answer and write it out in full, including the ones you had right.
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Step 3 · Closed book again
Same questions, same order, from memory. The gap between pass one and pass three is the session result.
Read the full method, the return schedule and the research behind it.
Nearby topics
AQA A-Level Economics Active Recall Guide
Every topic, not just this one. 2,344 questions with their answers.