Economics 9708 · AS & A Level · National income statistics

National income statistics — practice question

(a)[4]

How might the North Sea oil industry influence the UK's national income?

(b)[6]

Using the information provided, decide whether the North Sea oil industry seems to be declining or expanding.

(c)[4]

What evidence is there that could explain why the North Sea oil industry is still willing to increase investment?

(d)[6]

Discuss whether the rise in the number of small firms drilling for oil goes against the usual economic explanation for why small firms exist.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: Comment on the number of jobs (employment will increase).

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI