AQA A Level Economics Study guides, Class notes & Summaries

Sales of electric vehicles (EVs) in Europe have jumped from 198 000 in 2018 to an expected 1.17 million in 2021. They are an alternative to petrol and diesel vehicles, which create damaging emissions through air pollution and contribute to climate change. EVs still only make up about 1% of all cars on the road, but global sales of EVs are forecast to reach 10.7 million by 2025 and then 28.2 million by 2030. Carmakers have announced a total of $330 billion of investment into electric and bat...

AQA A LEVEL ECONOMICS PAPER 2 EXAM|QUESTIONS AND CORRECT ANSWERS|WITH STUDY GUIDE 2024|ACCURATE ACTUAL EXAM FREQUENTLY TESTED QUESTIONS|GRADED A|LATEST UPDATE

Which one of the following gives rise to opportunity cost? [1 mark] A Alternative uses for resources B Market failures for many goods C The methodology of positive economics D The presence of externalities 0 2 A bakery decides to increase the price of the bread that it sells. Which one of the following price elasticities of demand for bread will result in the largest increase in the bakery’s total revenue? [1 mark] A –0.4 B –0.8 C –1.0 D –2.0

The fall in price and increase in the quantity demanded of lemons could have been caused by [1 mark] A a fall in the price of a substitute for lemons, oranges. B a rise in the price of lemonade. C a reduction in the price of a complement for lemons, fish. D favourable weather leading to a record harvest.3 *03* Turn over ► IB/G/Jun23/7136/3 Do not write outside the 0 2 The environment is a scarce resource. A consequence of this is that box [1 mark] A all natural resources have a m...

AQA A-LEVEL ECONOMICS PAPER 2 NATIONAL AND INTERNATIONAL ECONOMY MAY 2024 QUESTIONS AND ANSWERS (EXPERT CERTIFIED 100%) LATEST! LATEST

1. What is meant by price elasticity of demand? [2marks] Price elasticity of demand is a responsiveness of quantity demanded due to change in price of a commodity. 2. What is meant by price elasticity of demand? [5marks] Price elasticity of demand is a responsiveness of quantity demanded due to change in price of a commodity. It can be calculated using a formula. % CHANGE IN QUANTITY DEMANDED PED = % CHANGE IN PRICE There are five types of elasticity where the value ranges ...

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