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EDEXCEL 2023 papers AND markschemes
...............EASE YOUR REVISION...........................
edexcel june 2023
2
23
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For resources, notes, easier revision
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, Please check the examination details below before entering your candidate information
Candidate surname Other names
Centre Number Candidate Number
Pearson Edexcel Level 3 GCE
Monday 15 May 2023
Morning (Time: 1 hour 30 minutes)
Paper
reference 8EC0/01
Economics A
Advanced Subsidiary
PAPER 1: Introduction to Markets and Market Failure
You do not need any other materials. Total Marks
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.
•• There are two sections in this question paper.
Answer all questions in Section A.
•• InAnswer
Section B, answer all of questions 6(a) to 6(e) and one question from 6(f) or 6(g).
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
P74060A
©2023 Pearson Education Ltd.
N:1/1/1/1
*P74060A0128*
, SECTION A
Answer ALL questions. Write your answers in the spaces provided.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
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 25 minutes on this section.
Use the data to support your answers where relevant. You may annotate and include
diagrams in your answers.
1 In 2021, energy regulator Ofgem announced that the maximum price of energy will
rise from £ 1 277 to £ 1 971 a year, for the average household bill.
(Source: adapted from https://www.moneysavingexpert.com/
utilities/what-is-the-energy-price-cap/)
(a) Which one of the following is the percentage increase in the maximum price to
the average household bill?
(1)
A 35 %
B 45 %
C 54 %
D 694 %
(b) Annotate the diagram below to show the original and new maximum price in
this market.
(2)
Average annual household bill (£)
S
P1
D
0
Q1 Quantity of energy per household
2
*P74060A0228*
EDEXCEL 2023 papers AND markschemes
...............EASE YOUR REVISION...........................
edexcel june 2023
2
23
OFF THIS PAGESTRIP OFF THIS PAGE
20
2
23
For resources, notes, easier revision
20
2
20
, Please check the examination details below before entering your candidate information
Candidate surname Other names
Centre Number Candidate Number
Pearson Edexcel Level 3 GCE
Monday 15 May 2023
Morning (Time: 1 hour 30 minutes)
Paper
reference 8EC0/01
Economics A
Advanced Subsidiary
PAPER 1: Introduction to Markets and Market Failure
You do not need any other materials. Total Marks
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.
•• There are two sections in this question paper.
Answer all questions in Section A.
•• InAnswer
Section B, answer all of questions 6(a) to 6(e) and one question from 6(f) or 6(g).
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
P74060A
©2023 Pearson Education Ltd.
N:1/1/1/1
*P74060A0128*
, SECTION A
Answer ALL questions. Write your answers in the spaces provided.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
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 25 minutes on this section.
Use the data to support your answers where relevant. You may annotate and include
diagrams in your answers.
1 In 2021, energy regulator Ofgem announced that the maximum price of energy will
rise from £ 1 277 to £ 1 971 a year, for the average household bill.
(Source: adapted from https://www.moneysavingexpert.com/
utilities/what-is-the-energy-price-cap/)
(a) Which one of the following is the percentage increase in the maximum price to
the average household bill?
(1)
A 35 %
B 45 %
C 54 %
D 694 %
(b) Annotate the diagram below to show the original and new maximum price in
this market.
(2)
Average annual household bill (£)
S
P1
D
0
Q1 Quantity of energy per household
2
*P74060A0228*
