Many UK students work during their holidays, and some set aside part of what they earn to cover tuition fees. On average, UK graduates receive £8500 more per year than non-graduates. In 2016, economics graduates had the second-highest average earnings among all UK graduates. The top 10% of economics graduates earned £115000 a year.
(a)[2]
State the meaning of earnings.
(b)[4]
Explain two non-wage factors influencing an individual’s choice of occupation.
(c)[6]
Analyse why economics graduates are paid well.
(d)[8]
Discuss whether people in developed countries are more likely to save than people in developing countries.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Income or money earned from work” …