Welcome to the 58th edition of our Newsletter EdGenie's 📜 Sunday Scroll...

Every Sunday I send out actionable tips, tricks and real-world application insights from my 15 year experience coaching students to achieve As and A*s in their Economics A Levels via EdGenie.

Hey Genies 🧞‍♂️

The answer is yes—and it’s easier than you think.

I just hosted our wonderful Live A* Exam Technique Masterclass, which I run every Thursday (recorded for those who miss it) on this very topic.

By the time you’ve introduced your definitions, made your point, ensured that your diagrams are seamlessly integrated into your explanation (instead of having a separate paragraph for them), and brought it all together using our special technique, guess what?

You’ve already hit 15-20 links in your chain of reasoning.
Don’t overcomplicate it. Trust me—it’s far simpler than it sounds.

Here’s an example:

Question: Evaluate the impact of a rise in interest rates on consumer spending.

1. Interest rates are the cost of borrowing and the reward for saving.
2. A rise in interest rates makes borrowing more expensive.
3. As a result, consumers are discouraged from taking out loans for big-ticket purchases (like houses and cars).
4. At the same time, saving becomes more attractive, leading consumers to save more and spend less.
5. This reduction in consumer spending means less demand for goods and services.
6. Businesses might respond to this drop in demand by reducing production.
7. Reduced production could lead to layoffs or cutbacks in hours for workers.
8. As more people lose jobs or have their hours reduced, disposable income declines.
9. Lower disposable income further reduces consumer spending.
10. This creates a negative multiplier effect, as less spending leads to even lower demand across the economy.
11. The aggregate demand (AD) curve shifts to the left from AD1 to AD2, representing lower overall demand in the economy.
12. As demand decreases, businesses lower prices to attract customers, which may reduce inflation.
13. We can see this from PL1 to PL2
14. However, lower prices may not immediately stimulate demand if consumers remain cautious about spending.
15. This is even more exacerbated because, consumption makes up over 65% of aggregate demand.
16. Reduced spending and lower demand could slow down economic growth or even a reduction from Y1 to Y2.
17. Thus, the government may need to intervene with fiscal or monetary policies to stimulate the economy.

And just like that, you’ve built 15 links in your chain of reasoning, without waffle, while staying on point! 💡

So don’t let the idea of building 15-20 links overwhelm you.

With the right approach and techniques like I preach at EdGenie, you will get there in no time.

If you want to join our Live A* Exam Technique and Question Practice Masterclasses, make sure you’re on EdGenie’s platform and come along every Tuesday and Thursday.

I’ll show you exactly how to master this.

Let's smash those As and A*s!

  Emre 🧞‍♂️

• 📸 High-End Camera Demand is Soaring: Despite smartphones, demand for premium cameras is increasing.
• 📱Smartphones Boost Photography Interest: Easy access to high-quality photos has made more people interested in photography.
• 🎨 Leica Cameras as Art: Leica cameras are seen as art pieces, combining sleek design with cutting-edge technology.
• 💰 Leica's Pricey Appeal: Leica’s Q3 model costs around $6,000, making it a luxury item.
• 🌍 Smartphones Dominate Photography: Over 90% of photos are taken on smartphones, leading to the decline of entry-level cameras.
• 💼 Premium Cameras Defy the Trend: High-end cameras like Leica and Fujifilm are in high demand, with long waiting lists.
• 🛍️ High-End Cameras as Status Symbols: These cameras are now seen as stylish and popular among influencers and enthusiasts.
• 📈 Camera Prices on the Rise: The average price of cameras has tripled, with professionals still relying on premium models.
• 🎥 Social Media Influence on Camera Demand: Fujifilm x100 cameras are trending on TikTok, increasing interest in high-end models.
• 🔄 Camera Sales Set to Rebound: 2024 is expected to see a rise in camera sales for the first time since 2017, thanks to a focus on premium products.

Q. Explain how the rise of smartphones has affected the demand for digital cameras.
A. The rise of smartphones has drastically reduced the demand for entry-level digital cameras, as the convenience and quality of smartphone photography make these lower-end models obsolete. However, smartphones have indirectly increased the demand for high-end cameras by making photography more popular among amateurs.

Q. Explain why premium cameras, like Leica's Q3, are still in high demand despite the dominance of smartphone photography.
​​A. Premium cameras like Leica's Q3 are in high demand because they offer superior image quality and advanced features that smartphones cannot match. Additionally, they have become status symbols, appealing to both professional photographers and amateurs seeking a more authentic photography experience.

Q. Discuss the role of social media in driving demand for high-end cameras.
A. Social media platforms like TikTok have played a significant role in driving demand for high-end cameras, as users showcase their photography skills and premium devices, turning them into status symbols. This has helped camera brands appeal to younger audiences who are influenced by trends and social media validation.

Q. Using the concept of cross elasticity of demand, analyse how the rise of high-quality smartphone cameras has influenced the demand for premium digital cameras, such as Leica and Fujifilm models.
A. The cross elasticity of demand (XED) measures how the demand for one product changes in response to the price change of another related product. High-quality smartphone cameras and premium digital cameras, like Leica and Fujifilm models, are substitutes but not perfect ones. Initially, smartphones drastically reduced the demand for entry-level digital cameras, showing a strong positive XED. However, as smartphones improved, they sparked a growing interest in photography, indirectly boosting the demand for premium cameras. Here, the cross elasticity of demand might become weaker, as these high-end cameras offer features and prestige that smartphones cannot match, shifting them into a more differentiated, complementary space in the market.

If you or your child are looking to Boost your A level Economics Grades in under 30 days, I'd recommend starting with an all-in-one support network where you get 24/7 access to a SuperTutor:

→ Join EdGenie 🧞‍♂️: Transform your A-Level Economics essays and exam marks (genuinely) with our comprehensive on-demand learning platform. This carefully curated course blends engaging content with effective exam techniques, the same ones that have empowered over 1,000 of my students to achieve an A or A* over the last 13 years.