Assessment

Understanding the Assessment Objectives:

AO1 Knowledge and understanding
• show knowledge and understanding of economic definitions, formulas, concepts and theories
• use economic terminology.

AO2 Analysis
• select, organise and interpret data
• use economic information and data to recognise patterns and to deduce relationships
• apply economic analysis to written, numerical, diagrammatic and graphical data
• analyse economic issues and situations, identifying and developing links.

AO3 Evaluation
• evaluate economic information and data
• distinguish between economic analysis and unreasoned statements
• recognise the uncertainties of the outcomes of economic decisions and events
• communicate economic thinking in a logical manner.