Circular Flow of Income Model – Paper 1 Part A Practice Question

Hey everyone,

So here’s a sample response to a paper 1 ten-mark question that I crafted about the Circular Flow of Income model!


The perfect economics Paper 1 Part (B) essay?


So, you finished your Paper 1 Part A essay worth 10 marks, where you did the DEED. Now you have your Part B essay worth 15 marks. How do you go about writing it?

Again, borrowed from Tim Woods: Do the DEED and CLASPP it all together!

The Part B essay is the ‘evaluation’ essay. How do you ‘evaluate’ in economics?

Start by defining key terms, explaining relevant concepts and theories, giving relevant contextualized real life example and drawing a diagram/s, as you would in a Part A essay, then pick 2-3 evaluation ‘talking points’ from the acronym CLASPP:

1- C => Conclusions: what can you conclude from the theory that you have explained in your analysis? Are there any ‘conflicting’ conclusions that can be drawn from this analysis?

2- L => Long term vs Short term: are there long term effects or implications different from the short term effects or implications? Your ability to explain that consequences happen in different time frames is a very good evaluation skill.

3- A => Assumptions vs Limitations: what are the assumptions of this model or analysis? What are the limitations of these assumptions or the limitations of the model? Recognizing that economic models are not perfect and they have their limitations is a very good evaluation skill.

4- S => Stakeholders gaining vs Stakeholders losing: every economic decision or policy or event has stakeholders that gain and stakeholders that lose, and being able to identify in details those winners (and how they win) and those losers (and how they lose) is a very good evaluation skill.

5- P => Pros vs Cons: recognising the advantages and disadvantages, the strengths and weaknesses, the pros and cons, is definitely the most basic evaluation skill.

6- P => Priorities: recognising the differences in priorities of the government vs priorities of the individual vs priorities of society, and how different economic agents have different priorities, is a very good evaluation skill.

To wrap up, in Paper 1 Part B questions, Do the DEED and then CLASPP it all together! You should finish your part A essay in 18 minutes maximum, and your part B essay in 27 minutes maximum!

Here’s a short video to explain in more detail:

The perfect economics Paper 1 Part (A) essay?


This photo may seem unrelated to the blogpost, but it was snapped by one of my students’ iPads when I was trying to explain how to write the perfect economics essay for Paper 1, so it inspired me to write this blogpost!

So, you have a Paper 1 question made up of Part (a) and Part (b), how do you tackle it?

My approach to Paper 1 was inspired by this blogpost from

For part (a): Do the DEED!

DEED is an acronym for: Definitions + Explanation + Example + Diagram/s…

What I tell my students:

1- Definitions: Make sure you define all key terms that are ‘relevant‘ to the question. Also, writing a vague definition is always better than writing no definition; but writing an accurate and precise definition always beats a vague definition!

Remember, not all ‘relevant’ key terms will necessarily be mentioned in the question.

2- Explanation: Make sure you explain all economic concepts/theories that are ‘relevant’ to the question. Explanations need to be accurate and in enough detail to demonstrate sufficient knowledge and understanding. Wishy-washy vague explanations are not very helpful!

3- Example/s: You defined and explained, now you need to APPLY and ANALYZE… how? By providing relevant real-life examples and drawing a diagram/s! Remember, a hypothetical example is always better than no example at all, but a real-life example will always beat a hypothetical example! That’s why it’s important to follow economic news and build a bank of real-life examples that are relevant to your concepts as you’re studying the course!

4- Diagram/s: economists love diagrams and models! Think about it, every chapter has at least one diagram or economic model in it! Make sure your diagrams are accurately labeled and the labels are in full detail! Label the axes in full detail as well as any curves/graphs you draw. It’s also not enough to draw the diagram, you need to explain it and apply it in the body of the essay, using the same labels, for example: as shown in the diagram, the _______ caused the demand curve to shift from D1 to D2 etc…

Now the real skill is in how your essay flows and how you link each component of the DEED together, but this basic structure provides a good starting point!

To sum up:

1- Accurate/precise relevant definitions

2- Detailed and clear explanations

3- Contextualized and relevant real-life example/s

4- Accurate and clearly labeled diagram/s with full explanations!

Here’s a short video to explain in more detail:

Good luck!