Economics 7135 Paper 1 June 2018, AQA AS-Level Past Papers with Mark Schemes

AQA AS Level Economics (7135) Jun 2018

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The exam explores microeconomic principles, market structures, and policy interventions. Topics include price elasticity, externalities, and the impact of subsidies on supply curves. Analytical tasks address production possibility frontiers, joint demand, and cost structures. Section B evaluates contextual applications, such as the decline in library services and agricultural market dynamics, focusing on funding allocation, government intervention, and productivity improvements. Quantitative skills are assessed through elasticity calculations, resource allocation diagrams, and comparative data analysis. The paper emphasizes evaluating market failures, public goods provision, and policy effectiveness in addressing economic inefficiencies and enhancing resource utilization.