Edexcel Level 3 GCE Thursday 18 May 2023 Economics Advanced PAPER 1: Markets and Business Behaviour

[Date] Pearson Edexcel
GCE A Level In
Economics A
(9EC0) Paper 01
Market and Business Behaviour




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[COMPANY NAME]

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Pearson Edexcel Level 3
GCE
Thursday 18 May 2023
Morning (Time: 2
hours)
referenc 9EC0/01
Economics
e  


Advanced
A
PAPER 1: Markets and Business
Behaviour

You do not need any other Total
materials. Marks




Instructions
•• Use black ink or ball-point pen.
Fill in the boxes at the top of this page with your
centre number and candidate number.
• There
name,
are three sections in this question paper. Answer all questions

• Answer the questions in the spaces
from Section A and Section B. Answer one question from Section C.

provided – there may be more space than
you need.

Information
•• The total mark for this paper is 100.
The marks for each question are shown in

• Calculators
– use this as a guide as to how much time to spend on each question.
may be used.
brackets
Advice
•• Read each question carefully before you start to answer it.
Check your answers if you have time at the

end.


Turn over

, SECTION A

Answer ALL questions. Write your answers in the spaces provided.




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Some 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 .

You are advised to spend 30 minutes on this section.

Use the data to support your answers where

relevant.
You may annotate and include diagrams in your answers.

1 In a major reform of its command economy, the Cuban government will allow
small private businesses to operate in most fields. Free market economists have
long called for the role of small business to be expanded to help jump-start the
economy and to create jobs.
(Source adapted from:
https://www.telegraph.co.uk/news/2021/02/07/
cuba-allows-massive-expansion-private-
businesses/)

(a) With reference to the information provided, explain one advantage of a
free market economy.




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2


, (b) Which one of the following economic thinkers supported the idea
of a command economy?
(1)
A Adam Smith
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B Friedrich Hayek

C John Maynard Keynes

D Karl Marx

(Total for Question 1 = 5 marks)
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3
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