EDEXCEL A LEVEL 2023 ECONOMICS A 9EB0 QUESTION PAPER 3

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, Please check the examination details below before entering your candidate information
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Pearson Edexcel Level 3 GCE
Monday 5 June 2023
Morning (Time: 2 hours) Paper
reference 9EB0/03
Economics B  


Advanced
PAPER 3: The economic environment and business

You must have: Total Marks
Insert (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.
Answer the questions in the spaces 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 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.
Try to answer every question.
• Check your answers if you have time at the end.

Turn over


P72979A
©2023 Pearson Education Ltd.
N:1/1/1
*P72979A0124*

, Answer ALL questions.
SECTION A




DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Read the following extracts (A–E) before answering Question 1.
Write your answers in the spaces provided.
Extract A
Whitsuntide hirings* – 16th April, 1879
Tuesday was the half-yearly hiring for Penrith. There was a large attendance but the
people seeking employment were far in excess of those requiring labour. As a necessary
consequence the wage rates were lower than at previous hirings.
(Source: adapted from The Carlisle Journal April 16th 1879)

*Hirings took place twice a year in rural areas such as Cumbria. They enabled all those
seeking work as servants to meet with prospective employers and negotiate wages and terms
of employment.

Extract B
Big Auto Had The Ultimate Barriers To Entry – Then Tesla Broke Through
Before the rise of Tesla, conventional wisdom held that it would be practically impossible
for a start-up company to challenge the giants of the car industry. When economics
professors explained the concept of barriers to entry, the car industry was usually the
prime example. Selling cars in volume requires not only massive industrial resources, but 5
a highly complex supply chain and dealer network, so a start-up could not possibly enter
the industry and compete.
Events have shown that this model was not valid – or perhaps it would be more accurate
to say that it was no longer valid, considering the growing importance of software and
technology in the auto industry. In retrospect, Tesla was in the right place at the right 10
time with the right idea.
(Source: adapted from https://cleantechnica.com/2022/03/03/big-auto-had-the-ultimate-
barriers-to-entry-then-tesla-broke-through/)




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*P72979A0224* 