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Economics P1 Written Tips

The document outlines a structured approach for answering economic questions using the DEED and CLASPP frameworks. It emphasizes defining key terms, explaining economic theories, providing examples and diagrams, and discussing the impact on stakeholders. Additionally, it highlights the importance of considering short-term versus long-term effects, assumptions, priorities, and the pros and cons of economic policies.

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Mumtaj M
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11 views2 pages

Economics P1 Written Tips

The document outlines a structured approach for answering economic questions using the DEED and CLASPP frameworks. It emphasizes defining key terms, explaining economic theories, providing examples and diagrams, and discussing the impact on stakeholders. Additionally, it highlights the importance of considering short-term versus long-term effects, assumptions, priorities, and the pros and cons of economic policies.

Uploaded by

Mumtaj M
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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FOR 10 MARK QUESTION: [DEED/ DEDE approach]

DEED

1. Define

2. Explanation

3/4.Example

4/3.Diagram

From the question, identify the key words or terminology to be defined.

Identify and explain the economic theory [Ex: Indirect tax/ subsidy/ negative consumption externality]

Use appropriate diagram to support the economic theory which will not be implicitly stated in the
question [Label the axes and variable accurately.]

Use real-world example to support the economic theory [ Mostly depend on updating the economic
issues from newspaper, online resource and magazine. Refer to the textbook or resources shared in the
Edmodo]

FOR 15 MARK QUESTION: [DEED + CLASPP approach]

1. Define

2. Explanation

4. Example

3. Diagram

10. Conclusion

9. Long term Vs Short term effects of the policy

5. Assumption

6. Stakeholders

7. Priorities

8. Pros and cons


From the question, identify the key words or terminology to be defined.

Identify and explain the economic theory [Ex: Indirect tax/ subsidy/ negative consumption externality]

Use appropriate diagram to support the economic theory which will not be implicitly stated in the
question [Label the axes and variable accurately.]

Discuss the effects of the Economic policy on various stakeholders: Consumer, producer, government,
society, workers and foreign producer – Ex: Whether indirect tax is effective in reducing the
consumption of the demerit goods / services in the short run or long run.

Priorities- Which stakeholder is most important, how should government respond to this scenario?

Ex: Cigarettes has negative consequences on the poorer section of the community as they spend major
of their income for those tobacco related product at the expense of their family livelihood.

Pros and cons: Explain the advantages and disadvantages of indirect tax policy.

Use real-world example to support the economic theory [Refer to the textbook or resources shared in
the Edmodo]- discuss the important assumption to make the economic theory operative in real world
situation- Conclusion [ Justify your arguments] and Long-term Vs short term effects of the
policy[ provide insight into the drawbacks of your conclusion or an alternate solution ]Ex: Imposition of
indirect tax is better than creating an awareness/ advertising by the government among the public
regarding the adverse effects of the consumption of the demerit good.

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