A-level · June 2023 · Paper 1
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With reference to the information provided, explain one advantage of a free market economy.
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Which one of the following economic thinkers supported the idea of a command economy?
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Calculate the opportunity cost of the decision by the farmer to harvest 6 units of wheat this year at point Y (movement from point X to point Y).
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Explain the impact on efficiency of producing at point W in the following year.
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Which one of the following would be most likely to help the farmer reach point Z? An increase in
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The likely income elasticity of demand for a luxury good is:
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Small local bakeries have many of the characteristics of monopolistic competition. Draw the short run profit maximising equilibrium of a loss-making luxury brownie baker.
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With reference to the information provided, calculate the percentage change in the price of an annual season ticket.
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Explain the likely impact of the increase in price of a season ticket on consumer surplus.
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Which one of the following areas represents the change in producer surplus when a minimum price is imposed?
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Which one of the following is the ratio of public sector pay relative to private sector pay in 2022?
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Over 90% of nurses work in the public sector. Nurses in the public sector have experienced wage rises lower than those in the private sector over the past 10 years. Using the information provided and the concept of monopsony, explain why nurses in the public sector have had lower wage rises than those in the private sector.
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Case study · The UK online streaming services market
With reference to Figure 1, explain the market structure that best describes the market for UK online streaming services.
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Case study · The UK online streaming services market
With reference to the information provided, assess whether Netflix subscribers behave rationally.
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Case study · The UK online streaming services market
With reference to the information provided, examine the likely numerical value of the cross elasticity of demand between UK online streaming services.
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Case study · The UK online streaming services market
With reference to Extract C, discuss the likely private and external benefits of viewing educational websites and TV programmes.
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Case study · The UK online streaming services market
Using examples from Figure 2 or Extract B, discuss the likely impact of price discrimination on a firm’s profits. Use a relevant diagram to support your answer.
Diagram needed. Open the original question paper for the diagram
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Evaluate possible methods of government intervention to control household energy bills in the UK.
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Evaluate possible methods of government intervention to reduce carbon emissions caused by road transport in the UK.
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