Please write clearly in block capitals.
Centre number Candidate number
Surname
Forename(s)
Candidate signature
I declare this is my own work.
GCSE
ECONOMICS
Paper 2 How the Economy Works
Friday 26 May 2023 Morning Time allowed: 1 hour 45 minutes
Materials
For Examiner’s Use
You will need no other materials.
You may use a calculator. Section Mark
A
Instructions
• Use black ink or black ball-point pen. B
• Fill in the boxes at the top of this page. TOTAL
• Answer all questions.
• You must answer the questions in the spaces provided. Do not write 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.
Information
• The marks for questions are shown in brackets.
• The maximum mark for this paper is 80.
• Questions should be answered in continuous prose. You will be assessed on your ability to:
– use good English
– organise information clearly
– use specialist vocabulary where appropriate.
*JUN238136201*
IB/H/Jun23/E8 8136/2
, 2
Do not write
outside the
Section A box
Answer all questions in the spaces provided.
For questions with four responses, only one answer per question is allowed.
For each question, completely fill in the circle alongside the appropriate answer.
CORRECT METHOD WRONG METHODS
If you want to change your answer you must cross out your original answer as shown.
If you wish to return to an answer previously crossed out, ring the answer you now wish to select
as shown.
0 1 A budget surplus is best described as which of the following?
[1 mark]
A Where government expenditure is greater than government revenue
B Where government revenue is greater than government expenditure
C Where the value of exports is greater than the value of imports
D Where the value of imports is greater than the value of exports
0 2 Which of the following is not a supply-side policy?
[1 mark]
A Decreasing taxes on business profits
B Decreasing the power of trade unions
C Increasing interest rates
D Increasing investment in education
*02*
IB/H/Jun23/8136/2
, 3
Do not write
outside the
0 3 Table 1 shows economic growth between 2018 and 2022 for an economy. box
Table 1
Economic growth
Year
(% change in GDP)
2018 3.2
2019 0.5
2020 –1.4
2021 1.2
2022 1.9
Using Table 1, the average (mean) annual rate of economic growth for the period
2018–2022 to one decimal place is
[1 mark]
A 0.9%
B 1.1%
C 1.4%
D 1.9%
0 4 ‘If inflation is low, the money saved today can be used at a later date with no significant
reduction in its purchasing power.’
Which function of money does the above statement most closely relate to?
[1 mark]
A Means of deferred payment
B Medium of exchange
C Store of value
D Unit of account
Turn over ►
*03*
IB/H/Jun23/8136/2
Centre number Candidate number
Surname
Forename(s)
Candidate signature
I declare this is my own work.
GCSE
ECONOMICS
Paper 2 How the Economy Works
Friday 26 May 2023 Morning Time allowed: 1 hour 45 minutes
Materials
For Examiner’s Use
You will need no other materials.
You may use a calculator. Section Mark
A
Instructions
• Use black ink or black ball-point pen. B
• Fill in the boxes at the top of this page. TOTAL
• Answer all questions.
• You must answer the questions in the spaces provided. Do not write 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.
Information
• The marks for questions are shown in brackets.
• The maximum mark for this paper is 80.
• Questions should be answered in continuous prose. You will be assessed on your ability to:
– use good English
– organise information clearly
– use specialist vocabulary where appropriate.
*JUN238136201*
IB/H/Jun23/E8 8136/2
, 2
Do not write
outside the
Section A box
Answer all questions in the spaces provided.
For questions with four responses, only one answer per question is allowed.
For each question, completely fill in the circle alongside the appropriate answer.
CORRECT METHOD WRONG METHODS
If you want to change your answer you must cross out your original answer as shown.
If you wish to return to an answer previously crossed out, ring the answer you now wish to select
as shown.
0 1 A budget surplus is best described as which of the following?
[1 mark]
A Where government expenditure is greater than government revenue
B Where government revenue is greater than government expenditure
C Where the value of exports is greater than the value of imports
D Where the value of imports is greater than the value of exports
0 2 Which of the following is not a supply-side policy?
[1 mark]
A Decreasing taxes on business profits
B Decreasing the power of trade unions
C Increasing interest rates
D Increasing investment in education
*02*
IB/H/Jun23/8136/2
, 3
Do not write
outside the
0 3 Table 1 shows economic growth between 2018 and 2022 for an economy. box
Table 1
Economic growth
Year
(% change in GDP)
2018 3.2
2019 0.5
2020 –1.4
2021 1.2
2022 1.9
Using Table 1, the average (mean) annual rate of economic growth for the period
2018–2022 to one decimal place is
[1 mark]
A 0.9%
B 1.1%
C 1.4%
D 1.9%
0 4 ‘If inflation is low, the money saved today can be used at a later date with no significant
reduction in its purchasing power.’
Which function of money does the above statement most closely relate to?
[1 mark]
A Means of deferred payment
B Medium of exchange
C Store of value
D Unit of account
Turn over ►
*03*
IB/H/Jun23/8136/2
