Indeed

Out of curiosity, what examboard do you use? My teachers never told me to have context, usually it's in the source no?

@@user-py8sw1jl6h i do AQA, for the 15 and 25 markers in section B you won't be given an extract but they may ask you about something in an industry/economy of your choice, or about a specific theme e.g. explain how monopolies can lead to market failure. for questions like that i've seen that it's normally good to have some real-world examples on hand to apply your knowledge in the real world. not sure for other exam boards though!

@@G9bows Don't they usually have a small stem that comes with the question. My teacher always told me to use some application, however it's pretty basic. If they talk about firms like apple in the stem, usually I would talk about the iPhone in my answer, or something like that

I would revise one industry per market structure (oligopoly, monopoly, state-owned firm) and also become a mini expert on one developed country (perhaps Germany, Ireland) and one developing country. Most of the application you need will be in the extracts but that extra layer of wider knowledge / context is IMHO what often makes the difference! Hopefully the livestreams help with providing some of the background for the UK in particular - thanks for your amazing contributions to the livestreams. G