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Home > Wednesday Wisdoms: Newsletter > Stop jumping from 25 marker to 25 marker

Welcome to the 31st edition of Wednesday Wisdoms by EdGenie!

Every Wednesday I send out actionable tips, tricks and real-world application insights from my 13-year experience coaching students to achieve As and A* in their Economics and Business A Levels.

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Stop jumping from 25 marker to 25 marker

Hey Genies,

In my journey guiding over a thousand students towards A and A* grades, I've observed a recurring theme – a tunnel vision focus on 25-mark questions. While these questions are undeniably vital, the secret to mastering A-Level Economics doesn't lie in relentlessly tackling one 25-marker after another without reflecting on the feedback received.

The Misstep: A Cycle of Repetition 🔄

Many of you are on a quest for the elusive A or A*, finding yourselves trapped in a cycle of attempting numerous 25-markers, only to face disappointment with the outcomes. The problem? A lack of emphasis on the critical feedback loop. Jumping from one 25-marker to another without digesting the feedback and adjusting your strategies is a path to stagnation, not improvement.

Introducing Feedforward: Your Path to Progress 🚀
Feedforward, unlike traditional feedback, doesn’t just tell you what went wrong; it provides actionable insights for future improvement. This proactive approach is what sets successful students apart. It’s the guidance that tells you not just where you stumbled but how to navigate the terrain ahead with confidence.

Why Embrace Feedforward?

  • Directs Focus to Improvement Areas: Traditional feedback often highlights weaknesses without offering a clear roadmap to success. Feedforward, in contrast, illuminates the steps necessary for improvement, ensuring your efforts are laser-focused and productive.
  • Cultivates a Forward-Thinking Mindset: Dwelling on past mistakes can be demoralizing. Feedforward encourages a positive, forward-thinking approach, transforming errors into learning opportunities and paving the way for continuous growth.
  • Tailors Learning to Your Needs: Every student's journey in economics is unique. Feedforward provides personalised guidance that resonates with your individual learning style, ensuring the advice you receive is as relevant and impactful as possible.

Feedforward with EdGenie: A Detailed Blueprint for Success ✨

At EdGenie, we don’t just grade your 25-markers; we illuminate the path forward. Our detailed feedforward mechanism is designed to break the cycle of repetitive mistakes, offering you bespoke advice that translates into tangible improvements. This is what it should look like:
Remember, the goal isn’t just to answer more 25-mark questions; it’s to deepen your understanding and refine your approach with every attempt. Feedforward is the bridge between where you are and where you aspire to be in your A-Level Economics journey.
Cheers,​
Emre

​Apple: iPhone China sales slide as Huawei soars, report says

Summary

📉 Sales Slump: Apple's iPhone sales in China have plummeted by 24% in the early weeks of 2024 compared to the previous year, as reported by Counterpoint.

🏠 Local Competition: Local Chinese brands, especially Huawei, have intensified the competition, with Huawei sales surging by 64%.

🔄 Huawei's Resurgence: Despite past US sanctions impacting its operations, Huawei's release of the Mate 60 series has led to a surprising comeback in the market.

🚀 Honor's Rise: Honor, once part of Huawei, joined the list of growing brands with an increase in sales, countering the overall 7% decline in China’s smartphone market.

📲 Market Share Shifts: Apple's market share in China dipped to 15.7%, seeing the tech giant drop to fourth place, while Huawei ascended to second with a 16.5% share.

💼 Vivo Leads: Despite a 15% sales drop, Vivo remains at the helm as the leading smartphone seller in China.

💰 Discount Drives: In response to the sluggish demand, Apple initiated discounts on its official Chinese site and through Tmall, Alibaba's marketplace platform.

📊 Financial Impact: A continued downturn in China could further dent Apple's revenues, which already fell to $20.82 billion in Q4 of 2023 from the previous year's $23.9 billion.

A Level Economics Questions:

Q: How does intense local competition affect the sales of international brands such as Apple in China?
A:Intense local competition, such as that from Huawei, Oppo, Vivo, and Xiaomi, can lead to a significant decline in sales for international brands. Apple's 24% drop in sales can be attributed to the aggressive pricing and product strategies of these local rivals, which may offer similar features at lower prices, appealing to cost-conscious consumers.

Q: What might the 24% drop in iPhone sales suggest about the price elasticity of demand for Apple products in China?
A:A 24% drop in sales suggests a relatively elastic demand for iPhones in China, meaning consumers are responsive to price changes and competition. Factors such as comparable alternatives from Huawei and other brands at competitive prices make consumers more willing to switch, reflecting elasticity in their purchasing choices.

Q: What impact does a decline in market share have on a company’s market position and strategy?
A: A decline in market share, such as Apple's drop from 19% to 15.7%, can lead to a reassessment of company strategy, including pricing, marketing, and product offerings. It might also prompt a company to innovate or restructure to regain competitiveness and appeal to consumers' changing preferences.

Q: How might the weakening of the Sterling against the dollar and euro affect Apple's pricing strategy in China?
A: The weakening of the Sterling could affect Apple's costs and pricing strategy if their production or operational costs are in currencies that are strengthening against the Sterling. This might necessitate price adjustments or cost-saving measures to maintain profitability without passing on too much cost to Chinese consumers.

Possible A Level Economics 25 Marker Question

Discuss the implications of government subsidies on consumer goods like smartphones.

Infographic of the Week

Global Job Market Appetite: Feast in Restaurants and Care in Hospitals

In a recent job market analysis based on LinkedIn listings by Resume.io, as of August 2023, the restaurant industry leads the U.S. job market, capturing 7.9% of all advertisements, indicative of a post-pandemic resurgence in dining out. This sector is trailed by non-profit organizations and motor vehicle manufacturing. In Canada, the health sector appears as the top employer, reflecting nearly 15% of job openings, suggesting an increasing focus on healthcare and well-being. Retail follows, with staffing and recruitment also showing strong demand. These hiring trends highlight a varied global employment landscape, where the predominant industries align with regional economic focuses and social trends.

Chart of the Week

UK Budget Outlook: Fiscal Prudence or Optimistic Forecasting?

The UK's fiscal strategy, unveiled in Autumn Statement 2023, aims to narrow the budget deficit from £85bn in 2024/25 to £35bn by 2028/29 by curbing public expenditure growth below tax receipt increases. This entails a gradual reduction to 1.1% of GDP by 2028/29, marking the lowest since 2002/03. The approach counts on modest real-terms public spending hikes amidst demographic shifts and rising costs in pensions, healthcare, and defense, against a backdrop of local government financial crises and investment needs for economic growth. However, the Institute for Fiscal Studies casts doubt on the viability of these spending cuts given the pressures on unprotected departments, raising concerns about future governments' ability to balance tax hikes with spending reviews, especially as the Bank of England reverses quantitative easing.

Macroeconomic Data


Whenever you're ready there is one way I can help you.

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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. 
A huge thanks for hopping on board EdGenie's Wednesday Wisdoms newsletter! 
I'm Emre, and I've got a big goal - to make A* education accessible to all A-level students.
And it Starts With You!

Emre Aksahin
Chief Learning Officer at Edgenie