Economics 7135 Paper 1 June 2016, AQA AS-Level Past Papers with Mark Schemes

AQA AS Level Economics (7135) Jun 2016

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The exam covers economic principles, market dynamics, and public policy analysis. Topics include production possibility frontiers, demand and supply elasticity, and the impact of monopoly on market efficiency. Analytical tasks involve interpreting market failures, externalities, and the effects of government interventions like price controls, taxation, and subsidies. Section B assesses contextual application in areas such as the UK housing market and the costs of smoking, focusing on government failure, price elasticity, and public goods. Diagrams and quantitative reasoning underpin evaluations of competitive markets, indirect taxes, and regulatory measures to address demerit goods and resource misallocation.