AQA AS LEVEL BUSINESS 71351

AQA AS LEVEL BUSINESS 7135/1PAP
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ER 1 QUESTION PAPER THE OPERATI
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ONS OF MARKET AND AMARKET FAIL
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URE JUNE 2022
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, Pleasekwritekclearlykinkblockkcapitals.

Centreknumber Candidateknumber


Surname k




Forename(s) k




Candidateksignature k

Ikdeclarekthiskiskmykownkwork.



AS
ECONOMICS
Paper 1 k The Operation of Markets and Market Failure
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Monday 11 k Morning Time allowed: 1 hour 30 minutes
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Materials
ForkExaminer’skUse
Forkthiskpaperkyoukmustkhave:
• thekinsert Section Mark
• akcalculator.
A

Instructions B
• Usekblackkinkkorkblackkball-pointkpen.k Pencilkshouldkonlykbekusedkforkdrawing. TOTAL
• Fillkinkthekboxeskatkthektopkofkthiskpage.
• AnswerkallkquestionskinkSectionkA.
• AnswerkeitherkContextk1korkContextk2kinkSectionkB.
• Youkwillkneedktokreferktokthekinsertkprovidedktokanswerk SectionkB.
• Youkmustkanswerkthekquestionskinkthekspaceskprovided.kDoknotkwritekoutsidekth
ekboxkaroundkeachkpagekorkonkblankkpages.
• Ifkyoukneedkextrakspacekforkyourkanswer(s),kusektheklinedkpageskatkthekendkofkth
iskbook.kWritekthekquestionknumberkagainstkyourkanswer(s).
• Dokallkroughkworkkinkthiskbook.kCrosskthroughkanykworkkyoukdoknotkwantktokbekm
arked.

Information
• Thekmaximumkmarkkforkthiskpaperkisk70.
• Thekmarkskforkquestionskarekshownkinkbrackets.
• Nokdeductionskwillkbekmadekforkwrongkanswers.




*jun207135101*
IB/M/Jun20/E17 7135/1

, 2
Doknotkwrit
ekoutsidekth
SectionkA e box


Answerkallkquestionskinkthisksection.


Onlykonekanswerkperkquestionkiskallowed.

Forkeachkquestionkcompletelykfillkinkthekcirclekalongsidekthekappropriatekanswer.
CORRECTkMETHOD WRONGkMETHODS



Ifkyoukwantktokchangekyourkanswerkyoukmustkcrosskoutkyourkoriginalkanswerkaskshown.

Ifkyoukwishktokreturnktokankanswerkpreviouslykcrossedkout,kringkthekanswerkyouknowkwishktokse
lectkaskshown.



0 1 Akresourcekmustkbekscarcekif

A itkhaskankopportunitykcost.

B itkisknon-renewable.

C therekiskakhighkdemandkforkit.

D therekiskaksmallkquantityksupplied.
[1kmark]




*02*
IB/M/Jun20/7135/1

, 3
Doknotkwrit
ekoutsidekth
0 2 Figurek1kshowskdemandk(D)kandksupplyk(S)kinkthekmarketkforkelectrickcars.kDemandki e box

skinitiallykatkD1kandksupplykatkS1.

Figurek1




Otherkthingskremainingktheksame,kwhichkonekofkthekfollowingkcombinationkofkeventskcouldkh
avekcausedkdemandktokshiftkfromkD1ktokD2kandksupplykfromkS1ktokS2?

A Greaterkavailabilitykofkroadsidekchargerskforkelectrickcarskandkakriseki
nkworkers’kwages

B Higherkpetrolkpriceskandkankincreasekinkworkers’kproductivity

C Introductionkofkakroadkpricingkschemekforkallkvehicleskandkhigherkd
ieselkfuelkprices

D Lowerkrailkandkbuskfareskandkthekusekofknewktechnologykforkelectrickc
arkproduction
[1kmark]


0 3 Governmentkfailurekmustkhavekoccurredkwhenkgovernmentkintervention

A causeskincomekinequalityktokincrease.

B haskunintendedkconsequences.

C iskbasedkonkimperfectkinformation.

D reducesktotalkwelfarekinkthekeconomy.
[1kmark]




Turnkoverk►


*03*
IB/M/Jun20/7135/1