Economics 7135 Paper 1 June 2023, AQA AS-Level Past Papers with Mark Schemes

AQA AS Level Economics (7135) Jun 2023

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The exam evaluates microeconomic principles, market dynamics, and government interventions. Topics include opportunity cost, price elasticity, and economies of scale. Analytical tasks explore market equilibrium shifts due to indirect taxes, division of labor impacts, and the provision of merit goods. Section B examines contextual applications, such as oil price fluctuations and renewable energy, focusing on price elasticity, market shares, and environmental policies. Additional analysis addresses drones' impact on delivery markets, cost structures, and regulatory considerations. The exam emphasizes evaluating market failures, policy interventions, and the balance between economic efficiency, equity, and sustainability.