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Behavioural economics

In this column, we offer some guidance on how to tackle an exam question that requires an understanding of behavioural economics

During the past 20 years there has been a growing interest in behavioural economics although it is not without its critics. The three largest examination boards have included elements of behavioural economics in their new specifications. We will look here at a question taken from AQA’s first set of sample assessment materials.

! Before moving on to the commentary, we recommend that you read the question carefully and think about how you would respond to it. Consider the ingredients of your response and how you would present the material.

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Previous

Real and nominal measurements

Next

How do changes in production costs affect prices?

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