3 marks
Q1(a) Use marginal analysis of a production possibility frontier table to explain what opportunity cost involves.
Edexcel · 9EC0 / 8EC0 / WEC11–14
All 19 questions from the Edexcel AS Level Paper 1, June 2017 Economics paper (9EC0 / 8EC0 / WEC11–14), worth 100 marks in total. The main topics tested are Index numbers (3), Government intervention (3), Elasticity (3), Production possibility frontiers (2).
Each question is summarised in our own words with its mark tariff, command word and specification point, and links through to the official paper.
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Q1(a) Use marginal analysis of a production possibility frontier table to explain what opportunity cost involves.
Q1(b) Select the most likely consequence when an economy makes more capital goods (less labour specialisation / a PPF shift / lower marginal utility / changed consumer-goods demand).
Q2(a) State what a base year is (2-mark definition).
Q2(b) From a UK wheat production table covering 2010–2015, work out 2011 and 2012 index numbers on a 2010 base.
Q2(c) Identify the percentage change in UK wheat production from 2014 to 2015. (0.03 / −2.87 / −2.95 / −477)
Q3(a) Give the meaning of subsidies (2 marks).
Q3(b) Pick the likeliest outcome of withdrawing solar panel installation subsidies (more producer surplus / fewer public goods / less consumer surplus / higher state spending).
Q3(c) Label a diagram showing how scrapping the solar panel installation subsidy alters equilibrium price and quantity.
Q4(a) Explain the free-market price mechanism's reaction to excess supply, with global carbon steel below $530 a tonne.
Q4(b) Choose which listed measure would most likely push carbon emissions up (tradable pollution permits / closing steel plants / subsidies for cleaner technology / cutting indirect taxes on steel).
Q5(a) Explain how a tuition fee cap cut from £9 000 to £6 000 could leave university places in excess demand.
Q5(b) Identify which statement about university education is correct (marginal social benefits, inferior good, public good, or social optimum quantity).
Q6(a) Using a supply and demand diagram, explain why the tobacco advertising ban in Extract A could cut tobacco firms' revenue.
Q6(b) Assess, using the material supplied and your own knowledge, whether smokers moving to e-cigarettes counts as rational behaviour.
Q6(c) With the two goods substitutes, explain how shifting tobacco cigarette prices could move e-cigarette demand over time.
Q6(d) From Extract A, work out tobacco cigarettes' price elasticity of demand across high-income versus low-middle-income countries.
Q6(e) Using Figure 1, assess why price elasticity of demand differs between tobacco cigarettes and e-cigarettes.
Q6(f) Evaluate what might be gained by leaving cigarette consumption to the free market.
Q6(g) Evaluate how state intervention in the market for cigarettes has worked out.
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