AS
ECONOMICS
7135/1
Paper 1 The Operation of Markets and Market Failure
Mark scheme
June 2025
Version: 1.0 Final
256A7135/1/MS
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2025
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that every associate understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts. Alternative
answers not already covered by the mark scheme are discussed and legislated for. If, after the
standardisation process, associates encounter unusual answers which have not been raised they are
required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further developed and
expanded on the basis of students’ reactions to a particular paper. Assumptions about future mark
schemes on the basis of one year’s document should be avoided; whilst the guiding principles of
assessment remain constant, details will change, depending on the content of a particular examination
paper.
No student should be disadvantaged on the basis of their gender identity and/or how they refer to the
gender identity of others in their exam responses.
A consistent use of ‘they/them’ as a singular and pronouns beyond ‘she/her’ or ‘he/him’ will be credited in
exam responses in line with existing mark scheme criteria.
Further copies of this mark scheme are available from aqa.org.uk
Copyright information
AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet for their own
internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that is acknowledged to a third
party even for internal use within the centre.
Copyright © 2025 AQA and its licensors. All rights reserved.
2
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2025
SECTION A
The following list indicates the correct answers used
in marking the students’ responses.
KEY LIST
B B
1 (Money in a firm’s bank account) 11 (Good weather conditions for growing
rice)
B A
2 (What goods and services to 12 (The availability of spare capacity)
produce)
C D
(a marketing campaign promoting (Productivity has risen for the
3 electric cars.) 13 manufacture of buses
Productivity has fallen for the
manufacture of trains)
D B
4 (The firm is aiming to increase its 14 (A seller knowing more than a buyer)
long-run profits)
D C
5 15
(£12.50) (+0.5)
B A
6 (individuals have incomplete 16 (an effective medium of exchange
information about merit goods.) exists.)
A A
7 (a negative externality and 17 (excess demand at price P1.)
overproduction of the good.)
B B
8 (composite demand.) 18 (the price of tomatoes rises due to the
rationing function of prices.)
C D
(Investing in research and (£23 250)
9 development to improve product 19
quality)
C D
(A rise of 4 percentage points) (The government introduces a charge at
10 20
a waste disposal site which leads to
illegal dumping)
Totals
A4
B7
C4
D5
3
ECONOMICS
7135/1
Paper 1 The Operation of Markets and Market Failure
Mark scheme
June 2025
Version: 1.0 Final
256A7135/1/MS
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2025
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that every associate understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts. Alternative
answers not already covered by the mark scheme are discussed and legislated for. If, after the
standardisation process, associates encounter unusual answers which have not been raised they are
required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further developed and
expanded on the basis of students’ reactions to a particular paper. Assumptions about future mark
schemes on the basis of one year’s document should be avoided; whilst the guiding principles of
assessment remain constant, details will change, depending on the content of a particular examination
paper.
No student should be disadvantaged on the basis of their gender identity and/or how they refer to the
gender identity of others in their exam responses.
A consistent use of ‘they/them’ as a singular and pronouns beyond ‘she/her’ or ‘he/him’ will be credited in
exam responses in line with existing mark scheme criteria.
Further copies of this mark scheme are available from aqa.org.uk
Copyright information
AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet for their own
internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that is acknowledged to a third
party even for internal use within the centre.
Copyright © 2025 AQA and its licensors. All rights reserved.
2
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2025
SECTION A
The following list indicates the correct answers used
in marking the students’ responses.
KEY LIST
B B
1 (Money in a firm’s bank account) 11 (Good weather conditions for growing
rice)
B A
2 (What goods and services to 12 (The availability of spare capacity)
produce)
C D
(a marketing campaign promoting (Productivity has risen for the
3 electric cars.) 13 manufacture of buses
Productivity has fallen for the
manufacture of trains)
D B
4 (The firm is aiming to increase its 14 (A seller knowing more than a buyer)
long-run profits)
D C
5 15
(£12.50) (+0.5)
B A
6 (individuals have incomplete 16 (an effective medium of exchange
information about merit goods.) exists.)
A A
7 (a negative externality and 17 (excess demand at price P1.)
overproduction of the good.)
B B
8 (composite demand.) 18 (the price of tomatoes rises due to the
rationing function of prices.)
C D
(Investing in research and (£23 250)
9 development to improve product 19
quality)
C D
(A rise of 4 percentage points) (The government introduces a charge at
10 20
a waste disposal site which leads to
illegal dumping)
Totals
A4
B7
C4
D5
3
