Ionce had a student who told me she was disappointed there’d been no question on price elasticity (‘after all the time we spent on it in class’). Actually there had been a 20-mark question on pricing, which cried out for assessment of the brand’s price elasticity. She hadn’t seen that price elasticity was a perfect concept for analysing pricing decisions. She was waiting to be asked: ‘Dear student, please tell me all you know about price elasticity’. We’re all waiting for that one…
The key to A-level business success is to seem like an intelligent business student rather than just an intelligent student. So you need knowledge of a reasonably wide range of theories that you can use to add value to your answers. If you have (and use) too many, your answers become too thin — full of ‘also’ instead of ‘therefore’. If you have too few, you end up stretching the concepts too far — using them when they’re not really appropriate.
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