Examiners’ Report
June 2023
GCE Economics B 9EB0 02
,Edexcel and BTEC Qualifications
Edexcel and BTEC qualifications come from Pearson, the UK's largest awarding body. We
provide a wide range of qualifications including academic, vocational, occupational and
specific programmes for employers. For further information visit our qualifications websites
at www.edexcel.com or www.btec.co.uk.
Alternatively, you can get in touch with us using the details on our contact us page at
www.edexcel.com/contactus.
Giving you insight to inform next steps
ResultsPlus is Pearson's free online service giving instant and detailed analysis of your
students' exam results.
See students' scores for every exam question.
Understand how your students' performance compares with class and national averages.
Identify potential topics, skills and types of question where students may need to develop
their learning further.
For more information on ResultsPlus, or to log in, visit www.edexcel.com/resultsplus. Your
exams officer will be able to set up your ResultsPlus account in minutes via Edexcel Online.
Pearson: helping people progress, everywhere
Pearson aspires to be the world’s leading learning company. Our aim is to help everyone
progress in their lives through education. We believe in every kind of learning, for all kinds of
people, wherever they are in the world. We’ve been involved in education for over 150 years,
and by working across 70 countries, in 100 languages, we have built an international
reputation for our commitment to high standards and raising achievement through
innovation in education. Find out more about how we can help you and your students at:
www.pearson.com/uk.
June 2023
Publications Code 9EB0_02_2306_ER
All the material in this publication is copyright
© Pearson Education Ltd 2023
GCE Economics B 9EB0 02 2
, Introduction
This paper is divided into three sections:
Section A consisting of eight questions based upon four data extracts; Section B consisting of
three data extracts and one 20-mark essay question and Section C consisting of two data
extracts and one 20-mark question.
Overall, candidates performed well on this paper but some areas require improved
understanding and skills. For example, successful responses to Q01(a) and Q01(b) required
both an interpretation of price indices, as well as an understanding of inflation, deflation and
disinflation. In other words, quantitative skills number QS5 calculate and interpret index
numbers had to have been practiced and understood for the data in Extract C to be
interpreted accurately. Q01(c) required an understanding of how income elasticity of demand
is calculated QS5 calculate and interpret index numbers, as well as QS2 calculate, use and
understand percentages, percentage changes and percentage point changes. It is clearly
important that candidates are familiar with the knowledge and understanding required for
the assessment of quantitative skills, which include at least Level 2 mathematical skills and
constitute a minimum of 20% of the overall marks for this qualification. Q01(g) required
candidates to use the data provided to assess the impact of inflation on firms. Despite the
data suggesting otherwise, many candidates suggested that the impact may be positive, as
firms may simply raise their prices, thus maintaining or increasing revenue and profits. In a
similar way, sections of the extracts were simply copied out, with reference to small firms
“filling the gap” left by the closure of large chain restaurants, rather than using these extracts
to support analysis or evaluation. While many candidates referenced rising costs for firms,
not as many discussed the impact of falling real incomes on the demand for normal luxuries
supplied by the restaurant sector.
In Sections B and C, the essay questions can be supported by candidates' own examples
arising from their study of the subject over the previous two years. Question 2 presented
three extracts where just-in-time stock control (JIT) had led to problems with supply chains.
Very few candidates were willing or able to introduce their own examples of where (JIT) had
benefited specific firms. They were more likely to simply list the potential theoretical benefits
of (JIT) without illustrating this with specific examples. However, it was pleasing to see some
candidates bringing recent data on inflation and growth in the UK economy into their
analysis and evaluation in question 3. It is important that candidates are encouraged to
monitor and discuss current economic data so that they can introduce this into their
response and help them to achieve Assessment Objective A02 Apply knowledge and
understanding to various economic contexts to show how economic agents are affected by and
respond to economic issues.
3 GCE Economics B 9EB0 02
, Question 1 (a)
This question first requires candidates to select the correct values from Extract C to calculate
the rate of inflation for March 2022. Most candidates managed to correctly interpret the
index numbers and calculate, to 2 decimal places, the percentage change between the CPI
for February 2022 (115.8) and the CPI for March 2022 (117.1) which was 1.12%. The main
errors being either in orders of magnitude or due to candidates not having learned how to
interpret and calculate index numbers and percentage changes (see previous comments
regarding QS2 and QS5). This was surprising given how the rate of inflation has been a major
topic of debate over the last year in most, if not all, economies.
GCE Economics B 9EB0 02 4
June 2023
GCE Economics B 9EB0 02
,Edexcel and BTEC Qualifications
Edexcel and BTEC qualifications come from Pearson, the UK's largest awarding body. We
provide a wide range of qualifications including academic, vocational, occupational and
specific programmes for employers. For further information visit our qualifications websites
at www.edexcel.com or www.btec.co.uk.
Alternatively, you can get in touch with us using the details on our contact us page at
www.edexcel.com/contactus.
Giving you insight to inform next steps
ResultsPlus is Pearson's free online service giving instant and detailed analysis of your
students' exam results.
See students' scores for every exam question.
Understand how your students' performance compares with class and national averages.
Identify potential topics, skills and types of question where students may need to develop
their learning further.
For more information on ResultsPlus, or to log in, visit www.edexcel.com/resultsplus. Your
exams officer will be able to set up your ResultsPlus account in minutes via Edexcel Online.
Pearson: helping people progress, everywhere
Pearson aspires to be the world’s leading learning company. Our aim is to help everyone
progress in their lives through education. We believe in every kind of learning, for all kinds of
people, wherever they are in the world. We’ve been involved in education for over 150 years,
and by working across 70 countries, in 100 languages, we have built an international
reputation for our commitment to high standards and raising achievement through
innovation in education. Find out more about how we can help you and your students at:
www.pearson.com/uk.
June 2023
Publications Code 9EB0_02_2306_ER
All the material in this publication is copyright
© Pearson Education Ltd 2023
GCE Economics B 9EB0 02 2
, Introduction
This paper is divided into three sections:
Section A consisting of eight questions based upon four data extracts; Section B consisting of
three data extracts and one 20-mark essay question and Section C consisting of two data
extracts and one 20-mark question.
Overall, candidates performed well on this paper but some areas require improved
understanding and skills. For example, successful responses to Q01(a) and Q01(b) required
both an interpretation of price indices, as well as an understanding of inflation, deflation and
disinflation. In other words, quantitative skills number QS5 calculate and interpret index
numbers had to have been practiced and understood for the data in Extract C to be
interpreted accurately. Q01(c) required an understanding of how income elasticity of demand
is calculated QS5 calculate and interpret index numbers, as well as QS2 calculate, use and
understand percentages, percentage changes and percentage point changes. It is clearly
important that candidates are familiar with the knowledge and understanding required for
the assessment of quantitative skills, which include at least Level 2 mathematical skills and
constitute a minimum of 20% of the overall marks for this qualification. Q01(g) required
candidates to use the data provided to assess the impact of inflation on firms. Despite the
data suggesting otherwise, many candidates suggested that the impact may be positive, as
firms may simply raise their prices, thus maintaining or increasing revenue and profits. In a
similar way, sections of the extracts were simply copied out, with reference to small firms
“filling the gap” left by the closure of large chain restaurants, rather than using these extracts
to support analysis or evaluation. While many candidates referenced rising costs for firms,
not as many discussed the impact of falling real incomes on the demand for normal luxuries
supplied by the restaurant sector.
In Sections B and C, the essay questions can be supported by candidates' own examples
arising from their study of the subject over the previous two years. Question 2 presented
three extracts where just-in-time stock control (JIT) had led to problems with supply chains.
Very few candidates were willing or able to introduce their own examples of where (JIT) had
benefited specific firms. They were more likely to simply list the potential theoretical benefits
of (JIT) without illustrating this with specific examples. However, it was pleasing to see some
candidates bringing recent data on inflation and growth in the UK economy into their
analysis and evaluation in question 3. It is important that candidates are encouraged to
monitor and discuss current economic data so that they can introduce this into their
response and help them to achieve Assessment Objective A02 Apply knowledge and
understanding to various economic contexts to show how economic agents are affected by and
respond to economic issues.
3 GCE Economics B 9EB0 02
, Question 1 (a)
This question first requires candidates to select the correct values from Extract C to calculate
the rate of inflation for March 2022. Most candidates managed to correctly interpret the
index numbers and calculate, to 2 decimal places, the percentage change between the CPI
for February 2022 (115.8) and the CPI for March 2022 (117.1) which was 1.12%. The main
errors being either in orders of magnitude or due to candidates not having learned how to
interpret and calculate index numbers and percentage changes (see previous comments
regarding QS2 and QS5). This was surprising given how the rate of inflation has been a major
topic of debate over the last year in most, if not all, economies.
GCE Economics B 9EB0 02 4
