1.1- Nature of Economics- A level Economics Edexcel Exam Questions

UNIT ASSESSMENT




Edexcel A Level
Economics
Unit Assessment

1.1 The Nature of
Economics
(Edition 1)
h X minutes
h The maximum mark for this unit assessment is X




Name


Centre Name

, Edexcel A Level Economics (A)
Unit Assessment 1.1
The Nature of Economics

Section A
ANSWER ALL THE QUESTIONS

1a Economics is a science that:
A does not rely on assumptions. 
B is unable to make scientific experiments. 
C can always predict future outcomes. 
D allocates infinite resources. 
(1 mark)



1b Statement 1: The need to improve the living standards of low-income groups is sufficient
justification for introducing a legal national minimum wage.

Statement 2: Setting a legal national minimum wage rate above the market equilibrium rate is
likely to cause unemployment.

Which of the following descriptions best describes these two statements?
A Statement 1 is positive and statement 2 is normative. 
B Both statements are positive. 
C Statement 1 is normative and statement 2 is positive. 
D Both statements are normative. 
(1 mark)



1c With reference to the statements in Question 1b, distinguish between positive and normative
economic statements.
(3 marks)




Page 2 Edexcel A Level Economics Unit Assessment www.tutor2u.net/economics