:micro economics & macro economics Question paper + mark scheme may
2024
surname names
Number Number
Paper
A ■ ■
Advanced
PAPER 3: Microeconomics and Macroeconomics
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
•• InIn Section
are two sections in this question paper.
A, answer all questions
answer all questions 2(a)
1(a) to
to 2(c)
1(c) and one question
and one question from
from 2(d)
1(d) or
or 2(e).
1(e).
Section B,
• Answer
– there maythe questions in thethan
be more space spaces
youprovided
need.
Information
•• The total mark for this paper is 100.
The marks for each question are shown in brackets
• Calculators may be used.
– use this as a guide as to how much time to spend on each question.
Advice
•• Read each question carefully before you start to answer it.
Check your answers if you have time at the end.
Turn over
,P74001A
©2024 Pearson Education Ltd.
F:1/1/1/1/1/1/1
, SECTION A
Read Figures 1 and 2 and the following extracts (A to C) before answering Question 1.
DO NOT WRITE IN THIS AREA
Answer ALL Questions 1(a) to 1(c), and EITHER Question 1(d) OR 1(e).
Write your answers in the spaces provided.
You are advised to spend 1 hour on this section.
Question 1
The energy market
Figure 1: UK wholesale gas prices per therm, 2021, in pence
500p
Price per
therm
400p
352p
300p
DO NOT WRITE IN THIS AREA
200p
100p
0p
Feb Apr Jun Aug Oct Dec
Figure 2: Number of firms supplying gas and electricity in the UK, 2004–2021
80
60 DO NOT WRITE IN THIS AREA
40
20
0
2004 06 08 10 12 14 16 18 21
Gas and electricity
Electricity
Gas
2
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