Please check the examination details below before entering your candidate information
Candidate surname Other names
Centre Number Candidate Number
Pearson Edexcel International Advanced Level
Tuesday 9 January 2024
Afternoon (Time: 1 hour 45 minutes) Paper
reference WEC11/01
Economics
International Advanced Subsidiary
UNIT 1: Markets in action
You must have: Total Marks
Source Booklet (enclosed)
Instructions
•• Use black ink or ball-point pen.
Fill in the boxes at the top of this page with your name,
centre number and candidate number.
•• Answer ALL questions in Sections A, B and C.
Answer ONE question in Section D.
• Answer the questions in the spaces provided
– there may be more space than you need.
Information
•• The total mark for this paper is 80.
The marks for each question are shown in brackets
– use this as a guide as to how much time to spend on each question.
• Calculators may be used.
Advice
•• Read each question carefully before you start to answer it.
Check your answers if you have time at the end.
Turn over
P73482A
©2024 Pearson Education Ltd.
S:1/1/1/1/1
*P73482A0128*
, SECTION A
Answer ALL questions in this section.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Questions must be answered with a cross in a box . If you change your mind about an answer,
put a line through the box and then mark your new answer with a cross .
1 Which one of the following is a characteristic of symmetric information?
A Buyers have more information than sellers
B Sellers have more information than buyers
C Buyers and sellers have the same level of information
D Buyers and sellers experience market failure
(Total for Question 1 = 1 mark)
2 70 million citizens in Bangladesh live in areas where there is a risk of flooding.
The Government of Bangladesh plans to spend $400 billion to build 600 kilometres of
sea defences.
Sea defences are an example of which one of the following?
A Consumer goods
B Free goods
C Private goods
D Public goods
(Total for Question 2 = 1 mark)
3 The cross elasticity of demand for Pepsi Cola with respect to a change in the price of
Coca-Cola is estimated to be +0.62 in North America.
Which one of the following can be deduced from this information?
A Pepsi Cola and Coca-Cola are complements
B Pepsi Cola and Coca-Cola are substitutes
C Pepsi Cola and Coca-Cola are unrelated goods
D Pepsi Cola and Coca-Cola are normal goods
(Total for Question 3 = 1 mark)
2
*P73482A0228*
, 4 The diagram represents the market for wheat in India. The Government of India
operates a minimum price scheme for wheat. It agrees to buy any surpluses from
farmers at the minimum price of 0E.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Price of wheat F Supply
per kg
G H Pmin
E
I
Demand
0 J K
Quantity of wheat, kg
Which one of the following can be deduced from this information?
A The Government will spend GHKJ
B The Government will spend EFG
C The Government will spend GHI
D The Government will spend EHK0
(Total for Question 4 = 1 mark)
3
*P73482A0328* Turn over
, 5 The chart shows the sources of electricity generation for Brazil in 2021.
Other renewables
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
11%
Solar
2%
Oil
3%
Coal
4%
Wind
11% Hydropower
55%
Gas
14%
Which one of the following can be deduced from the chart?
A Electricity is mostly generated from non-renewable resources
B Electricity is mostly generated from renewable resources
C 21% of electricity is generated using renewable resources
D 79% of electricity is generated using non-renewable resources
(Total for Question 5 = 1 mark)
4
*P73482A0428*
Candidate surname Other names
Centre Number Candidate Number
Pearson Edexcel International Advanced Level
Tuesday 9 January 2024
Afternoon (Time: 1 hour 45 minutes) Paper
reference WEC11/01
Economics
International Advanced Subsidiary
UNIT 1: Markets in action
You must have: Total Marks
Source Booklet (enclosed)
Instructions
•• Use black ink or ball-point pen.
Fill in the boxes at the top of this page with your name,
centre number and candidate number.
•• Answer ALL questions in Sections A, B and C.
Answer ONE question in Section D.
• Answer the questions in the spaces provided
– there may be more space than you need.
Information
•• The total mark for this paper is 80.
The marks for each question are shown in brackets
– use this as a guide as to how much time to spend on each question.
• Calculators may be used.
Advice
•• Read each question carefully before you start to answer it.
Check your answers if you have time at the end.
Turn over
P73482A
©2024 Pearson Education Ltd.
S:1/1/1/1/1
*P73482A0128*
, SECTION A
Answer ALL questions in this section.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Questions must be answered with a cross in a box . If you change your mind about an answer,
put a line through the box and then mark your new answer with a cross .
1 Which one of the following is a characteristic of symmetric information?
A Buyers have more information than sellers
B Sellers have more information than buyers
C Buyers and sellers have the same level of information
D Buyers and sellers experience market failure
(Total for Question 1 = 1 mark)
2 70 million citizens in Bangladesh live in areas where there is a risk of flooding.
The Government of Bangladesh plans to spend $400 billion to build 600 kilometres of
sea defences.
Sea defences are an example of which one of the following?
A Consumer goods
B Free goods
C Private goods
D Public goods
(Total for Question 2 = 1 mark)
3 The cross elasticity of demand for Pepsi Cola with respect to a change in the price of
Coca-Cola is estimated to be +0.62 in North America.
Which one of the following can be deduced from this information?
A Pepsi Cola and Coca-Cola are complements
B Pepsi Cola and Coca-Cola are substitutes
C Pepsi Cola and Coca-Cola are unrelated goods
D Pepsi Cola and Coca-Cola are normal goods
(Total for Question 3 = 1 mark)
2
*P73482A0228*
, 4 The diagram represents the market for wheat in India. The Government of India
operates a minimum price scheme for wheat. It agrees to buy any surpluses from
farmers at the minimum price of 0E.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Price of wheat F Supply
per kg
G H Pmin
E
I
Demand
0 J K
Quantity of wheat, kg
Which one of the following can be deduced from this information?
A The Government will spend GHKJ
B The Government will spend EFG
C The Government will spend GHI
D The Government will spend EHK0
(Total for Question 4 = 1 mark)
3
*P73482A0328* Turn over
, 5 The chart shows the sources of electricity generation for Brazil in 2021.
Other renewables
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
11%
Solar
2%
Oil
3%
Coal
4%
Wind
11% Hydropower
55%
Gas
14%
Which one of the following can be deduced from the chart?
A Electricity is mostly generated from non-renewable resources
B Electricity is mostly generated from renewable resources
C 21% of electricity is generated using renewable resources
D 79% of electricity is generated using non-renewable resources
(Total for Question 5 = 1 mark)
4
*P73482A0428*
