Economics J205,01 June 2023, OCR GCSE Past Papers with Mark Schemes

This economics exam paper evaluates knowledge of market operations and business strategies. Section A features multiple-choice questions covering topics like market structures, factors of production, and price elasticity. Section B includes case studies, such as the UK housing market and a café business, prompting analyses of demand and supply dynamics, competition, and resource allocation. Extended responses focus on evaluating economic interdependence, opportunity cost, and the role of small businesses in production. Total marks: 80, blending theoretical insight and real-world application.