AS
ECONOMICS
7135/1
Paper 1 The Operation of Markets and Market Failure
Mark scheme
June 2026
Version: 1.0 Final
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2026
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 © 2026 AQA and its licensors. All rights reserved.
2
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2026
SECTION A
The following list indicates the correct answers used
in marking the students’ responses.
KEY LIST
A A
1 (A statement that can be tested by 11 (Individuals cannot be prevented from
the evidence) consuming the product)
B C
2 (Higher prices lead to higher 12 (£13 250 000)
profits)
D D
(Water pollution from leaking oil (There are many buyers and sellers with
3 tankers and rising global 13 good market information)
temperatures caused by
households using petrol cars)
D B
4 14
(300) (Fall, Rise)
C C
(An increase in spending by the (The average productivity of the factors
5 15
government on education) of production was higher in 2022 than
2023)
C B
(An increase in the price of a (more elastic when the price per litre
6 16
substitute good for coffee) increases from 50p to 55p than from 45p
to 50p.)
A B
7 (Buyers have perfect information) 17 (Households with low incomes have less
influence on the signals firms receive)
A B
(–3, Complementary goods) (The opportunity cost of producing
8 18
fridges, in terms of dishwashers, is now
lower)
B D
9 (Output is at an inefficient level) 19 (£13)
B D
10 (To help firms to differentiate their 20 (A good that is rival in consumption and
products) is excludable)
Totals
A4
B7
C4
D5
3
ECONOMICS
7135/1
Paper 1 The Operation of Markets and Market Failure
Mark scheme
June 2026
Version: 1.0 Final
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2026
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 © 2026 AQA and its licensors. All rights reserved.
2
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2026
SECTION A
The following list indicates the correct answers used
in marking the students’ responses.
KEY LIST
A A
1 (A statement that can be tested by 11 (Individuals cannot be prevented from
the evidence) consuming the product)
B C
2 (Higher prices lead to higher 12 (£13 250 000)
profits)
D D
(Water pollution from leaking oil (There are many buyers and sellers with
3 tankers and rising global 13 good market information)
temperatures caused by
households using petrol cars)
D B
4 14
(300) (Fall, Rise)
C C
(An increase in spending by the (The average productivity of the factors
5 15
government on education) of production was higher in 2022 than
2023)
C B
(An increase in the price of a (more elastic when the price per litre
6 16
substitute good for coffee) increases from 50p to 55p than from 45p
to 50p.)
A B
7 (Buyers have perfect information) 17 (Households with low incomes have less
influence on the signals firms receive)
A B
(–3, Complementary goods) (The opportunity cost of producing
8 18
fridges, in terms of dishwashers, is now
lower)
B D
9 (Output is at an inefficient level) 19 (£13)
B D
10 (To help firms to differentiate their 20 (A good that is rival in consumption and
products) is excludable)
Totals
A4
B7
C4
D5
3
