Download 2024 AQA GCSE ECONOMICS 8136/1 Paper 1 How Markets Work Verified Question Paper with Mar and more Exams Economics in PDF only on Docsity!
2024 AQA GCSE ECONOMICS 8136/1 Paper 1 How Markets
Work
Verified Question Paper with Marking Scheme Combined.
June 2024
Materials
You will need no other materials. You may use a calculator.
Instructions
- Use black ink or black ball-point pen.
- Fill in the boxes at the top of this page.
- 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. For Examiner’s Use Section Mark A B TOTAL
Do not write outside the Section A Answer all questions in the spaces provided. box 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. The central purpose of economic activity is to produce goods and services that [1 mark] A create tax revenue. B maximise profit. C minimise externalities. D satisfy needs and wants. An individual obtains a bank loan to start a business. Which factor of production has changed? [1 mark] A Capital B Enterprise C Labour D Land
Do not write outside the box Table 1 Industry Value of output (£ bn) Mining 25. Fishing 18. Manufacturing 64. Education 101. Other services 83. Using Table 1 , identify the correct statement. In year X A the secondary sector was the most valuable economic sector. [1 mark] B the tertiary sector was the most valuable economic sector. C the value of output in the primary sector was £25.5 bn. D the value of output in the secondary sector was £82.7 bn. 0 5 Table 1 shows the value of output in selected industries of an economy in year X.
Do not write outside the box Table 2 Occupation Weekly pay (£) Dental surgeons 800 Bus drivers 640 Calculate the ratio of dental surgeons’ weekly pay to bus drivers’ weekly pay from Table 2. [1 mark] A 0.40: B 0.80: C 1.25: D 1.44: Identify which of the following is not an example of the actions of producers conflicting with moral and ethical interests. [1 mark] A A firm dumps waste in a river. B A firm only recruits graduates from one university. C A firm raises wages to protect the living standards of its workers. D A firm takes advantage of international law to minimise tax paid. Turn over for the next question
0 6 Table 2 shows the weekly pay of dental surgeons and bus drivers.
Do not write outside the box 0 8 Goods X and Y are complements. The supply of good X decreases. What will happen in the market for good Y? [1 mark] A Demand decreases B Demand^ increases C Supply decreases D Supply increases 0 9 Which of the following firms is most likely to be a monopoly? [1 mark] Firm Ease of entry Number of firms in industry Product differentiation A High High Low B High High High C Low Low Low D Low Low High A Firm A B Firm B C Firm C D Firm D
Do not write outside the box Turn over ►
Do not write outside the box (^1 1) State two deductions from a worker’s gross pay. [2 marks] 1 2 1 2 Explain one impact of a competitive market on consumer choice. [2 marks] 1 3 Explain why online retailing is an example of a market. [2 marks]
Do not write outside the Figure 1 – Effects of price increases^ box Item Annual price increases (%) year to October 2022 Wheat 165 Crude oil 47 Natural gas 204 Analyse the possible impact of changes in the prices of commodities such as those mentioned in Figure 1 upon other markets such as energy and food production. [6 marks] In 2022, the prices of commodities such as wheat, crude oil and natural gas rose significantly. This led to concern about the impact of these price rises upon markets such as energy and food production. 1 5
Do not write outside the Table 3 shows data relating to the workforce of Billy’s Barbers, which is one of^ box several barbershops on a busy street. Table 3 Number of workers 6 Number of haircuts per day 93 (^1 9). 1 Using Table 3 , calculate the daily productivity of the workforce of Billy’s Barbers. Give your answer to the nearest whole number. [2 marks] Haircuts per day = (^1 9). 2 Explain one benefit of increased productivity to a business such as Billy’s Barbers. [2 marks]
Do not write outside the Draw and label demand and supply curves on the graph below from the following^ box table of information. Clearly identify the equilibrium price and quantity. [3 marks] Price (£) Quantity demanded (units) Quantity supplied (units) 5 14 8 10 12 12 15 10 16 20 8 20 Turn over ►
Do not write outside the box 48 Extra space Turn over for Section B Turn over ►
Do not write outside the There are no questions printed on this page^ box DO NOT WRITE ON THIS PAGE ANSWER IN THE SPACES PROVIDED
