OCR A-Level Economics answers, written to the spec
4 topics · explanations and examiner marking in OCR’s own language
Studying OCR A-Level Economics? Pick your board once and every answer, mark and flashcard elid gives you follows that specification. Free to start, no card needed. Open elid →
This is the full OCR A-Level Economics specification, as elid holds it — 4 topics, each with the terminology OCR marks against. Every explanation and every mark elid gives you is written against this list, not a generic A-level one, because the same question answered in AQA, CAIE or Edexcel language loses marks it should have earned.
The OCR A-Level Economics specification, topic by topic
Micro: Scarcity, Allocation and Market Failure
Assessed in Paper 1, 3
The economic problem, resource allocation, demand and supply, market failure, externalities, and government intervention.
Specification terms elid matches
Scarcity
opportunity cost
equilibrium
negative externality
positive externality
merit good
demerit good
public good
subsidies
price mechanism
demand curve
supply curve
consumer surplus
producer surplus
Micro: Market Structures, Monopoly and Labour Markets
Assessed in Paper 1, 3
Revenues, costs, profits, perfect competition, monopolistic competition, oligopoly, monopoly, contestability, and labour markets.
Specification terms elid matches
marginal cost
average cost
supernormal profit
oligopoly
monopoly
demand for labour
minimum wage
trade union
perfect competition
monopolistic competition
marginal revenue
average revenue
total revenue
economies of scale
Macro: Economic Performance and Policy
Assessed in Paper 2, 3
Economic growth, inflation, unemployment, balance of payments, AD/AS, circular flow, and fiscal/monetary/supply-side policies.
Specification terms elid matches
GDP
inflation
unemployment
balance of payments
Aggregate Demand
Aggregate Supply
fiscal policy
monetary policy
supply-side policy
economic growth
real GDP
national income
circular flow of income
injections
Macro: Global Economy and Trade
Assessed in Paper 2, 3
Globalisation, comparative advantage, international trade, protectionism, exchange rates, and financial sector.
Specification terms elid matches
globalisation
free trade
tariffs
protectionism
exchange rate
financial sector
trading blocs
inequality
current account
capital account
floating exchange rate
fixed exchange rate
managed exchange rate
quotas
How the papers are weighted
elid uses these weightings when it decides which topics deserve your revision time first.
Paper
Share of the qualification
Paper 1
33.33%
Paper 2
33.33%
Paper 3
33.33%
Marked the way OCR marks it
Paste an answer you have written and elid marks it point by point against the OCR scheme: which marking points you hit, which you missed, and the sentence that would have earned each missing one. It is the difference between being told an answer is “good” and being told exactly where the marks went.
Ready to try it on your own question? Pick your board once and every answer, mark and flashcard elid gives you follows that specification. Free to start, no card needed. Open elid →