Economics 8136/1 June 2021

AQA GCSE Economics (8136) Jun 2021

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The exam paper explores microeconomic principles, emphasizing market dynamics, price mechanisms, and the roles of economic groups. Key topics include elasticity, economies of scale, diseconomies of scale, market failures, and resource allocation. Quantitative tasks involve calculations of productivity, price elasticity, and costs. Real-world scenarios include labor market shifts, ethical considerations in profit-making, and the socio-economic effects of competition in markets. Focus areas include sustainability, externalities of global warming, and government intervention to correct market failures. The paper integrates data analysis and critical evaluation to enhance understanding of market efficiency and consumer welfare.