2024 Pearson Edexcel Level 3 GCE English Literature
Advanced Subsidiary PAPER 2:Prose MAY Merged QP
What is the expected outcome for students regarding their economic thinking? - __100%
correct answer as . as . as Students should develop an ability to think as an economist.
What teaching approaches should be reflected in the content delivery? - __100%
correct answer as . as . as . as Teaching approaches must reflect the need for students
to build upon knowledge from previous themes.
What types of contexts will students apply their knowledge to? - __100% correct answer
as . as . as . as Students will apply their knowledge to both familiar and unfamiliar
contexts.
What is the role of competition in business decision making? - __100% correct answer
as . as . as . as Students will understand the role of competition in business decision
making through analysis and evaluation of pricing and output decisions.
What is the relationship between market participants and competition? - __100% correct
answer as . as . as . as The number and size of market participants influence the nature
of competition and pricing among firms.
What are some reasons firms may remain small? - __100% correct answer as . as . as .
as Students will explore reasons for demergers and why some firms tend to remain
small.
What is the importance of quantitative skills in economics? - __100% correct answer as .
as . as . as Quantitative skills are essential for applying economic concepts and
analyzing data relevant to the theme.
What is the expected level of understanding regarding government intervention? -
__100% correct answer as . as . as . as Students should be able to critically appraise
government intervention in promoting competitive markets.
What is
What does the ceteris paribus assumption imply in economic modeling? - __100%
correct answer as . as . as . as It implies that all other variables are held constant while
analyzing the relationship between two specific variables.
, Why can't economics conduct scientific experiments like natural sciences? - __100%
correct answer as . as . as . as Due to the complexity of human behavior and the
influence of numerous variables.
What is the difference between positive and normative economic statements? - __100%
correct answer as . as . as . as Positive statements are objective and fact-based, while
normative statements are subjective and involve value judgments.
How do value judgments influence economic decision-making? - __100% correct
answer as . as . as . as They affect policy choices and the interpretation of economic
data.
What is the economic problem of scarcity? - __100% correct answer as . as . as . as It
arises because there are unlimited wants and fin ite resources.
What is the distinction between renewable and non-renewable resources? - __100%
correct answer as . as . as . as Renewable resources can be replenished naturally, while
non-renewable resources are finite and cannot be replaced.
What is opportunity cost? - __100% correct answer as . as . as . as The value of the next
best alternative that is forgone when making a decision.
What do production possibility frontiers depict? - __100% correct answer as . as . as . as
They illustrate the maximum productive potential of an economy, opportunity costs,
economic growth or decline, and efficient or inefficient allocation of resources.
What is the difference between movements along and shifts in production possibility
curves? - __100% correct answer as . as . as . as Movements along the curve represent
changes in the quantity of goods produced, while shifts indicate changes in the
economy's productive capacity.
What is the significance of specialization and the division of labor? - __100% correct
answer as . as . as . as They can increase efficiency and productivity in production but
may also lead to disadvantages such as monotony and dependency.
What are the functions of money? - __100% correct answer as . as . as . as Money
serves as a medium of exchange, a measure of value, a store of value, and a method of
deferred payment.
What are the three types of economies? - __100% correct answer as . as . as . as Free
market, mixed, and command economies.
What are the advantages of a free market economy? - __100% correct answer as . as .
as . as Efficiency in resource allocation and innovation due to competition.
Advanced Subsidiary PAPER 2:Prose MAY Merged QP
What is the expected outcome for students regarding their economic thinking? - __100%
correct answer as . as . as Students should develop an ability to think as an economist.
What teaching approaches should be reflected in the content delivery? - __100%
correct answer as . as . as . as Teaching approaches must reflect the need for students
to build upon knowledge from previous themes.
What types of contexts will students apply their knowledge to? - __100% correct answer
as . as . as . as Students will apply their knowledge to both familiar and unfamiliar
contexts.
What is the role of competition in business decision making? - __100% correct answer
as . as . as . as Students will understand the role of competition in business decision
making through analysis and evaluation of pricing and output decisions.
What is the relationship between market participants and competition? - __100% correct
answer as . as . as . as The number and size of market participants influence the nature
of competition and pricing among firms.
What are some reasons firms may remain small? - __100% correct answer as . as . as .
as Students will explore reasons for demergers and why some firms tend to remain
small.
What is the importance of quantitative skills in economics? - __100% correct answer as .
as . as . as Quantitative skills are essential for applying economic concepts and
analyzing data relevant to the theme.
What is the expected level of understanding regarding government intervention? -
__100% correct answer as . as . as . as Students should be able to critically appraise
government intervention in promoting competitive markets.
What is
What does the ceteris paribus assumption imply in economic modeling? - __100%
correct answer as . as . as . as It implies that all other variables are held constant while
analyzing the relationship between two specific variables.
, Why can't economics conduct scientific experiments like natural sciences? - __100%
correct answer as . as . as . as Due to the complexity of human behavior and the
influence of numerous variables.
What is the difference between positive and normative economic statements? - __100%
correct answer as . as . as . as Positive statements are objective and fact-based, while
normative statements are subjective and involve value judgments.
How do value judgments influence economic decision-making? - __100% correct
answer as . as . as . as They affect policy choices and the interpretation of economic
data.
What is the economic problem of scarcity? - __100% correct answer as . as . as . as It
arises because there are unlimited wants and fin ite resources.
What is the distinction between renewable and non-renewable resources? - __100%
correct answer as . as . as . as Renewable resources can be replenished naturally, while
non-renewable resources are finite and cannot be replaced.
What is opportunity cost? - __100% correct answer as . as . as . as The value of the next
best alternative that is forgone when making a decision.
What do production possibility frontiers depict? - __100% correct answer as . as . as . as
They illustrate the maximum productive potential of an economy, opportunity costs,
economic growth or decline, and efficient or inefficient allocation of resources.
What is the difference between movements along and shifts in production possibility
curves? - __100% correct answer as . as . as . as Movements along the curve represent
changes in the quantity of goods produced, while shifts indicate changes in the
economy's productive capacity.
What is the significance of specialization and the division of labor? - __100% correct
answer as . as . as . as They can increase efficiency and productivity in production but
may also lead to disadvantages such as monotony and dependency.
What are the functions of money? - __100% correct answer as . as . as . as Money
serves as a medium of exchange, a measure of value, a store of value, and a method of
deferred payment.
What are the three types of economies? - __100% correct answer as . as . as . as Free
market, mixed, and command economies.
What are the advantages of a free market economy? - __100% correct answer as . as .
as . as Efficiency in resource allocation and innovation due to competition.
