AQA AS LEVEL BUSINESS 7135/1PAP
k k k k k
ER 1 QUESTION PAPER THE OPERATI
k k k k k
ONS OF MARKET AND AMARKET FAIL
k k k k k
URE JUNE 2022
k k
, Pleasekwritekclearlykinkblockkcapitals.
Centreknumber Candidateknumber
Surname k
Forename(s) k
Candidateksignature k
Ikdeclarekthiskiskmykownkwork.
AS
ECONOMICS
Paper 1 k The Operation of Markets and Market Failure
k k k k k k
Monday 11 k Morning Time allowed: 1 hour 30 minutes
k k k k k
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
k k k k k
ER 1 QUESTION PAPER THE OPERATI
k k k k k
ONS OF MARKET AND AMARKET FAIL
k k k k k
URE JUNE 2022
k k
, Pleasekwritekclearlykinkblockkcapitals.
Centreknumber Candidateknumber
Surname k
Forename(s) k
Candidateksignature k
Ikdeclarekthiskiskmykownkwork.
AS
ECONOMICS
Paper 1 k The Operation of Markets and Market Failure
k k k k k k
Monday 11 k Morning Time allowed: 1 hour 30 minutes
k k k k k
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