AS · June 2018 · Paper 1
Which one of the following best describes the two statements above?
Cuba’s population is estimated to be 11 million. With reference to Statement 1 above, calculate the estimated number of doctors in Cuba. You are advised to show your working.
Define the term ‘command economy’.
Ceteris paribus, calculate the price elasticity of demand for the Daily Mail newspaper over this period. You are advised to show your working.
Which one of the following is most likely to be a determinant of price elasticity of demand for the Daily Mail newspaper?
Define the term ‘ceteris paribus’.
Using the data above, which one of the following is a function of the price mechanism in the market for private dental care?
Explain one possible reason why the state provides NHS dental treatment.
Define the term ‘asymmetric information’.
Which one of the following is the most accurate explanation of the term ‘median household income’?
Using the data provided, explain whether bus travel is a normal good or an inferior good.
Define the term ‘consumer surplus’.
The diagram shows the production possibility frontier for the BBC. Assuming the BBC is at point W, annotate the diagram to show the opportunity cost of providing more educational programmes.
Diagram needed. Open the original question paper for the diagram
BBC programmes are often referred to as being public goods. This is because:
Case study · Energy markets
With reference to Figure 1 and Extract A, explain why the price of uranium has ‘fallen to a 13-year low’ (Extract A, lines 2 and 3) in 2016. Include a supply and demand diagram in your answer.
Diagram needed. Open the original question paper for the diagram
Case study · Energy markets
With reference to Extract A and your own knowledge, assess whether the supply of uranium is likely to be price elastic or price inelastic.
Case study · Energy markets
With reference to Extract B, explain two likely reasons why many consumers of energy have not switched to suppliers offering lower prices.
Case study · Energy markets
Using examples from the information provided, explain what is meant by renewable and non-renewable energy.
Case study · Energy markets
Discuss the likely microeconomic effects of this decision on energy producers and consumers. Include a supply and demand diagram in your answer.
Diagram needed. Open the original question paper for the diagram
Case study · Energy markets
Using the concept of external costs, evaluate whether nuclear power is under-provided or over-provided in the energy market. Use an appropriate diagram in your answer.
Diagram needed. Open the original question paper for the diagram
Case study · Energy markets
Evaluate ways in which government intervention could be used to reduce carbon emissions. Use at least one appropriate diagram in your answer.
Diagram needed. Open the original question paper for the diagram