Economics 7135 Paper 1 June 2019, AQA AS-Level Past Papers with Mark Schemes

AQA AS Level Economics (7135) Jun 2019

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The exam examines microeconomic principles, market dynamics, and resource allocation efficiency. Topics include price elasticity, externalities, and the impact of taxes and subsidies on market equilibrium. Analytical tasks address production possibility frontiers, concentration ratios, and cost-benefit analysis. Section B evaluates contextual applications, such as the palm oil industry's environmental and economic impact and the market dynamics of dental care, focusing on demand shifts, cross-price elasticity, and regulatory measures. Quantitative reasoning is assessed through elasticity calculations, output comparisons, and diagrammatic analysis. The exam emphasizes market failures, public policy evaluations, and the balance between private and social costs and benefits.