A-level · June 2018 · Paper 1
Calculate the original and the new opportunity cost of producing 50 capital goods. You are advised to show your working.
Which one of the following was the most likely cause of the movement in the production possibility frontier from XY to XZ?
Explain one characteristic of the economy at position W.
Calculate the weekly revenue received by Camelot after paying the tax to the government. You are advised to show your working.
Explain the likely impact of the price increase of national lottery tickets on the demand for using gaming machines.
The most likely reason for this grant is to ensure the:
Assume the selling fee is 1.3%. Calculate the payment received by an estate agent on a property sold for £489 000. You are advised to show your working.
The ratio of the average house price in London to the average house price in the North East of England is:
Explain one likely reason for the difference in average house prices between London and the North East of England.
Calculate the change in total supernormal profit if Emily changes her objective from profit maximisation to revenue maximisation. You are advised to show your working.
Emily now decides to change her objective from revenue maximisation to sales maximisation. This change will lead to:
The percentage decrease in sales of PCs between 2011 and 2015 is:
Explain one likely reason for the decrease in sales of PCs.
Calculate the five-firm concentration ratio. You are advised to show your working.
Case study · The UK energy market
With reference to Figure 1, explain one likely reason for the overall trend in the real price of gas and electricity.
Case study · The UK energy market
With reference to Extract A, discuss the likely effectiveness of ‘measures to open up and increase competition’ in the UK energy market.
Case study · The UK energy market
With reference to Extract B, assess how the regulation of energy suppliers’ profits is likely to affect consumers and suppliers in the energy market.
Case study · The UK energy market
With reference to Extract A and your own knowledge, examine two possible reasons for the change in price elasticity of demand for electricity over time.
Case study · The UK energy market
With reference to Extract C and your own knowledge, discuss policies businesses and government might implement to reduce labour immobility to benefit the energy sector.
Evaluate the likely private costs and external costs involved in such major power station construction projects. Use an appropriate externalities diagram in your answer.
Diagram needed. Open the original question paper for the diagram
Evaluate whether such a high market share for one company is in the consumer interest. Use appropriate diagrammatic analysis in your answer.