Edexcel A-Level Economics AS 2.3.1 1i National Happiness and Wellbeing Indicators of National Happiness and Wellbeing Questions

Knowledge 1, Analysis 2, Application 1

Quantitative skills assessed:

QS9: Interpret, apply and analyse information in written, graphical and tabular forms

Knowledge and Analysis

1 knowledge mark for identification of the impact and up to 2 analysis marks for linked development, e.g.:

- The greater the GDP per capita PPP, the higher the World Happiness Score(1K) as the purchasing power increases (1AN) and people can afford to purchase more goods and services/have income to satisfy their wants or needs (1AN)

- The greater the real incomes, the higher the subjective happiness (1K) as people can now take out loans and mortgages (1AN) as they are less worried or anxious about making payments/have greater job security (1AN)

Application

1 mark for appropriate reference to the data, e.g.:

- World Happiness Score increased from 3.667 in 2012-14 to 5.072 in 2020-22 /

- Guinea's real GDP per capita increased from $4 127 to $5434 between 2013 and 2021 (1)

(4)

Question

With reference to the chart, explain the difference between a current account deficit and a current account surplus.

Mark