Real-world data mapped to Edexcel specification codes — with exam yield ratings.
Theme 1 — Key Market Figures
SPEC 1.1.3 · EXTERNALITIES
UK ETS Carbon Price
~£36/tCO₂
SPEC 1.1.2 · PRICE MECHANISM
Avg UK House Price
£285,000
SPEC 1.1.4 · DEMERIT GOODS
UK Smoking Rate
11.9%
SPEC 1.3.1 · COMPETITION POLICY
CMA Merger Threshold
>25% share
🔥 Topical Application — Last 30–90 Days
Green Belt relaxed for 1.5m home target
The government has relaxed Green Belt planning rules for the first time in 40 years, designating 'grey belt' land for housebuilding. Housing Secretary targets 1.5m homes by 2029, requiring ~300,000/yr. Economists debate whether supply-side planning reform will close the housing affordability gap or simply raise land values.
OBR recommends raising ETS floor to £75/tCO₂
The OBR's latest Fiscal Risks Report recommends doubling the UK ETS carbon floor price to £75/tCO₂ by 2030 to meet net-zero commitments. At the current ~£36/tCO₂, the UK carbon price is 4× below the IMF's optimal level — a measurable market failure in correcting the externality.
SPEC 1.1.1 · ECONOMICS AS A SOCIAL SCIENCE
OBR GDP forecast avg error
±1.2 pp
SPEC 1.1.2 · POSITIVE & NORMATIVE STATEMENTS
Economists agreeing Brexit hurt UK trade
~95 % (IGM Forum)
SPEC 1.1.3 · THE ECONOMIC PROBLEM
NHS waiting list (May 2025)
7.4 million
SPEC 1.1.4 · PRODUCTION POSSIBILITY FRONTIERS
UK R&D investment / GDP (2023)
1.7 %
SPEC 1.1.5 · SPECIALISATION & DIVISION OF LABOUR
Apple iPhone: components sourced from
43+ countries
SPEC 1.1.6 · FREE MARKET, MIXED & COMMAND ECONOMIES
UK public spending / GDP (2024/25)
45 %
SPEC 1.2.1 · RATIONAL DECISION MAKING
UK pension auto-enrolment rate (2024)
88 %
SPEC 1.2.2 · DEMAND
UK consumer spending growth (Q1 2025)
+1.3 % yoy
SPEC 1.2.3 · PED, YED & XED
Petrol PED (UK, short run)
≈ −0.1 to −0.3
SPEC 1.2.4 · SUPPLY
UK food price inflation (2025)
+2.9 % YoY
SPEC 1.2.5 · ELASTICITY OF SUPPLY (PES)
Avg UK house price (Mar 2025)
SPEC 1.2.6 · PRICE DETERMINATION
Avg UK rent (Q1 2025)
£1,361/mo
SPEC 1.2.7 · FUNCTIONS OF THE PRICE MECHANISM
UK egg price rise post-bird flu (2023)
+40 % in 3 months
SPEC 1.2.8 · CONSUMER & PRODUCER SURPLUS
UK indirect tax revenue (FY23/24)
£255 bn
SPEC 1.2.9 · INDIRECT TAXES & SUBSIDIES
UK adult smoking rate (2024)
11.9 %
Unleaded petrol price (June 2025)
137p/litre
SDIL revenue (2023/24)
£338 m
SPEC 1.2.10 · BEHAVIOURAL ECONOMICS
UK organ donor opt-out rate (2024)
~23 %
SPEC 1.3.1 · TYPES OF MARKET FAILURE
NHS England budget (2025/26)
£192.3 bn
UK vaping market value (2024)
£1.2 bn
UK tuition fee cap (2025/26)
£9,535/yr
SPEC 1.3.2 · EXTERNALITIES
UK ETS carbon price (2025)
~£36 / tonne CO₂
EV share of new UK car sales (Q1 2025)
19.6 %
Renewables share of UK electricity (2024)
55 %
UK Plastic Packaging Tax rate (2024/25)
£217.85/tonne
SPEC 1.3.3 · PUBLIC GOODS
UK NHS vaccine budget (2024/25)
~£2 bn
SPEC 1.3.4 · INFORMATION GAPS
UK pharma R&D spend (2024)
£5.3 bn
UK fast food market (2024)
£22 bn
UK private tutoring market (2024)
£2 bn
SPEC 1.4.1 · GOVERNMENT INTERVENTION IN MARKETS
CR4 concentration ratio
65 %
Ofgem price cap (Q2 2025)
£1,568 / yr
BT/EE mobile market share
~35 %
UK alcohol market revenue (2024)
£50 bn
SPEC 1.4.2 · GOVERNMENT FAILURE
Thames Water debt (2025)
£19.8 bn
Nando's Yield Rating — exam frequency guide
Extra Hot = appears almost every paper. Lemon & Herb = low-frequency, worth covering last.