Search for notes by fellow students, in your own course and all over the country.
Browse our notes for titles which look like what you need, you can preview any of the notes via a sample of the contents. After you're happy these are the notes you're after simply pop them into your shopping cart.
Title: Edexcel as level economics a question paper 1 june 2024 + mark scheme
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE AS Level In Economics A (8EC0) Paper 01 Introduction to Markets and Market Failure
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE AS Level In Economics A (8EC0) Paper 01 Introduction to Markets and Market Failure
Document Preview
Extracts from the notes are below, to see the PDF you'll receive please use the links above
Edexcel as level
economics a question
paper 1 june 2024 +
mark scheme
Please check the examination details below before entering your candidate information
Candidate surname
Centre Number
Other names
Candidate Number
Pearson Edexcel Level 3 GCE
Monday 13 May 2024
Morning (Time: 1 hour 30 minutes)
Paper
reference
Economics A
8EC0/01
Advanced Subsidiary
PAPER 1: Introduction to Markets and Market Failure
You do not need any other materials
...
•
in the boxes at the top of this page with your name,
• Fill
centre number and candidate number
...
•
Answer all questions in Section A
...
•
the questions in the spaces provided
• Answer
– there may be more space than you need
...
•
marks for each question are shown in brackets
• The
– use this as a guide as to how much time to spend on each question
...
Advice
Read each question carefully before you start to answer it
...
Turn over
P72055A
©2024 Pearson Education Ltd
...
Write your answers in the spaces provided
...
If you change your mind about an
answer, put a line through the box and then mark your new answer with a cross
...
Use the data to support your answers where relevant
...
1 Scarcity of non‑renewable resources, such as oil, is a key reason why alternative
resources have been developed by economies
...
(a) With reference to the information provided, explain the distinction between
renewable and non‑renewable resources
...
...
...
...
...
...
(b) Which one of the following best describes ‘scarcity’?
(1)
A
An extension of the demand curve
B
Excess supply
C
Insufficient resources to satisfy wants
D
The misallocation of resources
(Total for Question 1 = 4 marks)
*P72055A0332*
3
Turn over
(a) Define the term ‘supply
...
...
...
In which one of the diagrams does the movement from X to Y
illustrate the most likely impact on Madagascar’s economy of a natural disaster
such as a cyclone?
A
Output of
consumer
goods
(1)
B
Output of
consumer
goods
Y
Y
X
X
0
Output of capital goods
Output of
consumer
goods
X
0
4
0
Output of capital goods
C
D
Output of
consumer
goods
Y
Output of capital goods
Y
0
X
Output of capital goods
*P72055A0432*
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
2 Vanilla bean prices increased to a record $600 a kilogramme in 2018 after a cyclone
hit the tropical island of Madagascar, damaging crops
...
(c) Annotate the diagram below to show the effect of the cyclone on the price of
vanilla beans
...
(b) Singapore’s education system is provided by the state
...
(3)
...
...
...
...
...
...
...
...
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
...
...
...
6
Statement 2
Other countries ought to set school class sizes similar to Finland
...
oph
...
(b) With reference to the information above, explain what is meant by
‘opportunity cost’
...
...
...
...
...
...
...
It has been forecast that the price cut will lead to a 15% increase in
demand
...
You are advised to show your working
...
...
...
...
(1)
...
...
(c) Which one of the following is most likely to be a determinant of price elasticity of
demand for the Model 3 electric vehicle?
(1)
A
Availability of substitute electric vehicles
B Change in population size
C Increase in the cost of steel
D
Number of unsold Model 3 electric vehicles
(Total for Question 5 = 4 marks)
TOTAL FOR SECTION A = 20 MARKS
10
*P72055A01032*
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
(Source adapted from: https://www
...
com/)
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
5 Chief Executive Elon Musk said “affordability” was the biggest barrier to Tesla reaching
a far larger market
...
We found that
even small changes in price have a big impact on demand
...
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
BLANK PAGE
Turn over
*P72055A01132*
11
Answer ALL Questions 6(a) to 6(e) and EITHER Question 6(f) OR Question 6(g)
...
Question 6
The market for plastic in the UK
Figure 1: Trend in the purchase of single‑use plastic bags in millions, UK, 2014 to 2021
2014
2015
2016
2017
2018
2019
2020
2021
7 500
2 120
1 750
1 130
1 040
627
496
197
Extract A
10p charge continues to reduce use of plastic carrier bags
The 5p charge on single‑use carrier bags was introduced in supermarkets in 2015
...
The UK Environment Minister said that the plastic bag charge has ended the irrational
purchase of billions of single‑use carrier bags, thereby protecting our landscapes and
ensuring millions of pounds are redistributed to worthy causes
...
Consumers are now in the habit of bringing reusable carrier bags when shopping
...
These provide
incentives to consumers to reuse their plastic containers
...
With the average household income falling by
4
...
5
10
15
(Source adapted from: https://www
...
co
...
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
SECTION B
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Extract B
Plastic packaging tax
Food manufacturers have criticised the implementation of a new UK environmental tax,
warning it will force them to increase prices for consumers
...
Businesses manufacturing or importing 10 tonnes or more a year of
plastic packaging that contains less than 30% recycled plastic are taxed at £200 a tonne
...
Helene Roberts, Chief Executive of Robinson Packaging, said increased prices for the
consumer would be an unintended consequence of the tax
...
” A wide range of
businesses are affected by the new tax, including retailers importing items such as bin
liners, drink bottles and carrier bags
...
5
10
(Source adapted from: https://www
...
com)
Extract C
Single‑use cups
An estimated 2
...
Research has found that while a 25p charge on single‑use cups increases the use of
reusable coffee cups in coffee shops, a discount on reusable coffee cups has no impact at
all on their use
...
4%
...
3%
...
5% whereas the distribution of free reusable cups leads to a further increase of 4
...
5
10
“While the increases for individual measures were modest, the greatest behavioural
change was when the measures were combined,” said Wouter Poortinga of
Cardiff University
...
theguardian
...
(c) With reference to Extract A, explain the likely numerical value for the income
elasticity of demand for reusable cleaning products
...
(e) Discuss the likely private costs and external costs of the production of plastic
...
Use a diagram to
support your answer
...
Use a diagram to support
your answer
...
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
6 (a) Explain what is meant by the ‘unintended consequence’ (Extract B, line 9) of the
plastic tax
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
16
*P72055A01632*
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
(10)
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
...
...
...
...
...
...
...
...
*P72055A01732*
17
Turn over
(c) With reference to Extract A, explain the likely numerical value for the income
elasticity of demand for reusable cleaning products
...
...
...
...
...
...
...
...
...
18
*P72055A01832*
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
(4)
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
(d) With reference to Extract C, explain how incentives to use reusable coffee cups
may lead to a fall in demand for single‑use cups
...
...
...
...
...
...
...
...
...
...
...
...
...
(15)
...
...
...
...
...
...
...
...
...
...
...
...
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
...
...
...
...
...
...
...
...
...
...
...
...
...
*P72055A02132*
21
Turn over
...
...
...
...
...
...
...
...
...
...
...
...
22
*P72055A02232*
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
...
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
...
...
...
...
...
...
...
Use a diagram to
support your answer
...
Use a diagram to support
your answer
...
If you change your
mind, put a line through the box and then indicate your new question with a cross
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
...
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
...
...
...
...
...
...
...
...
...
Title: Edexcel as level economics a question paper 1 june 2024 + mark scheme
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE AS Level In Economics A (8EC0) Paper 01 Introduction to Markets and Market Failure
Description: Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE AS Level In Economics A (8EC0) Paper 01 Introduction to Markets and Market Failure