Please write clearly in block capitals.
Candida
Centre te
number number
Surname
Forename(s)
Candidate signature
AS
ECONOMICS
Paper 1 The Operation of Markets and Market Failure
Monday 13 May 2024 Morning Time allowed: 1 hour 30 minutes
Materials For Examineds Use
For this paper you must have:
• the Insert • a calculator. Section Mark
Instructions
• Use black ink or black ball-point pen. Pencil should only be used for drawing. TOTAL
• Fill in the boxes at the top of this page.
• Answer all questions in Section A.
• Answer either Context 1 or Context 2 in Section B.
• You will need to refer to the Insert provided to answer Section B.
• You must answer the questions in the spaces provided. Do not write outside the
box around each page or on blank pages.
• If you need extra space for your answer(s), use the lined pages at the end of this
book. Write the question number against your answer(s).
• Do all rough work in this book. Cross through any work you do not want to be
marked.
As level AQA 2024 Economics paper 1.
, 2
Do not
outside
Information
• The maximum mark for this paper is 70.
• The marks for questions are shown in brackets.
• No deductions will be made for wrong answers.
As level AQA 2024 Economics paper 1.
, 3
0 1 write the
Section A box
Answer all questions in this section.
Which one of the following is a function of prices in a market economy?
[I mark]
A Allocating resources to the production of public goods
B Ensuring that the distribution of goods and services is fair
C Incentivising firms to produce the goods consumers want
D Providing a measurement of positive and negative externalities
Which one of the following is a normative statement?
The price of petrol
[1 mark]
A fell in real terms last year.
B is affected by supply.
C is now too high.
D will rise next year. Turn over
As level AQA 2024 Economics paper 1.
, 4
Do not
outside
o 3 box
Figure 1 shows the demand curve for Economics textbooks.
Figure I
Price
Quantity
Which one of the following could have caused the movement along the demand curve from
Demand
[I mark]
A A fall in the number of people studying Economics
B A fall in the price of Economics textbooks
C An increase in consumer incomes
D An increase in the price of paper
Partial market failure occurs when
[1 mark]
A prices fall causing firms to make losses.
B there are no positive externalities in consumption.
C there is a missing market for the product.
D there is immobility of factors of production.
As level AQA 2024 Economics paper 1.
Candida
Centre te
number number
Surname
Forename(s)
Candidate signature
AS
ECONOMICS
Paper 1 The Operation of Markets and Market Failure
Monday 13 May 2024 Morning Time allowed: 1 hour 30 minutes
Materials For Examineds Use
For this paper you must have:
• the Insert • a calculator. Section Mark
Instructions
• Use black ink or black ball-point pen. Pencil should only be used for drawing. TOTAL
• Fill in the boxes at the top of this page.
• Answer all questions in Section A.
• Answer either Context 1 or Context 2 in Section B.
• You will need to refer to the Insert provided to answer Section B.
• You must answer the questions in the spaces provided. Do not write outside the
box around each page or on blank pages.
• If you need extra space for your answer(s), use the lined pages at the end of this
book. Write the question number against your answer(s).
• Do all rough work in this book. Cross through any work you do not want to be
marked.
As level AQA 2024 Economics paper 1.
, 2
Do not
outside
Information
• The maximum mark for this paper is 70.
• The marks for questions are shown in brackets.
• No deductions will be made for wrong answers.
As level AQA 2024 Economics paper 1.
, 3
0 1 write the
Section A box
Answer all questions in this section.
Which one of the following is a function of prices in a market economy?
[I mark]
A Allocating resources to the production of public goods
B Ensuring that the distribution of goods and services is fair
C Incentivising firms to produce the goods consumers want
D Providing a measurement of positive and negative externalities
Which one of the following is a normative statement?
The price of petrol
[1 mark]
A fell in real terms last year.
B is affected by supply.
C is now too high.
D will rise next year. Turn over
As level AQA 2024 Economics paper 1.
, 4
Do not
outside
o 3 box
Figure 1 shows the demand curve for Economics textbooks.
Figure I
Price
Quantity
Which one of the following could have caused the movement along the demand curve from
Demand
[I mark]
A A fall in the number of people studying Economics
B A fall in the price of Economics textbooks
C An increase in consumer incomes
D An increase in the price of paper
Partial market failure occurs when
[1 mark]
A prices fall causing firms to make losses.
B there are no positive externalities in consumption.
C there is a missing market for the product.
D there is immobility of factors of production.
As level AQA 2024 Economics paper 1.
