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AQA Economics A-Level Exam
Section 1: Fundamental Concepts (Questions 1-20)
Q1: Value judgements influence economic decision-making and policy because...
• A. are facts that individuals feel might be relevant to a decision.
• B. are evaluative processes that an individual uses solely to prioritise monetary value.
• C. are the foundations of positive decision-making when a judgment is required.
• D. are evaluative processes based on an individual's standards or priorities.
• Correct: D
• Rationale: Normative statements involve subjective values; common in policy
evaluation questions
Q2: Which one of the following is a central purpose of economic activity? The production of
goods to...
• A. satisfy the needs of consumers.
• B. make a profit for firms.
• C. provide tax revenue for the government.
• D. ensure equitable access to utility.
• Correct: A
• Rationale: Ties to satisfying needs and wants amid scarcity
Q3: The main methodological difference between Economics and the natural sciences is that
economists...
• A. cannot test hypotheses in laboratory conditions.
• B. cannot refute hypotheses.
• C. rely on observation to produce evidence.
• D. suffer the poverty of quantitative data.
• Correct: A
• Rationale: Positive statements use real-world data, a frequent distinction in intro
questions
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Q4: A positive statement...
• A. is one that can be tested.
• B. is one that is true.
• C. is one based on an opinion.
• D. cannot be refuted by looking at the evidence.
• Correct: A
• Rationale: Directly tested in ~80% of papers
Q5: A normative statement is...
• A. verifiable by facts.
• B. objective.
• C. based on an opinion.
• D. based on real world data.
• Correct: C
• Rationale: Contrasts with positive in value judgment questions
Q6: Which one of the following is a positive statement?
• A. The government should reduce the standard rate of income tax.
• B. The government ought to cut social security benefits.
• C. A cut in social security benefits will increase incentives to work.
• D. There needs to be an increase in defence spending.
• Correct: C
• Rationale: Testable outcome; normative options are distractors
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Q7: 'Rising unemployment is a price worth paying to get inflation down'. This is an example of...
• A. a theory.
• B. a hypothesis.
• C. a positive statement.
• D. a value judgement.
• Correct: D
• Rationale: Normative phrasing; common trade-off scenario
Q8: The basic economic problem leads to which one of the following key economic decisions
that any economy must address?
• A. What the balance should be between the production of consumer and capital goods
• B. What, how, why, and for whom goods and services are produced
• C. Which goods should be made specifically for the export market and which should be
imported
• D. Which goods should be provided by the public sector and which by the private sector
• Correct: B
• Rationale: Core choices from scarcity
Q9: Economic decision-makers are primarily concerned with...
• A. increasing output.
• B. maximising their welfare.
• C. reducing prices.
• D. increasing international trade.
• Correct: B
• Rationale: Links to economic welfare and self-interest
AQA Economics A-Level Exam
Section 1: Fundamental Concepts (Questions 1-20)
Q1: Value judgements influence economic decision-making and policy because...
• A. are facts that individuals feel might be relevant to a decision.
• B. are evaluative processes that an individual uses solely to prioritise monetary value.
• C. are the foundations of positive decision-making when a judgment is required.
• D. are evaluative processes based on an individual's standards or priorities.
• Correct: D
• Rationale: Normative statements involve subjective values; common in policy
evaluation questions
Q2: Which one of the following is a central purpose of economic activity? The production of
goods to...
• A. satisfy the needs of consumers.
• B. make a profit for firms.
• C. provide tax revenue for the government.
• D. ensure equitable access to utility.
• Correct: A
• Rationale: Ties to satisfying needs and wants amid scarcity
Q3: The main methodological difference between Economics and the natural sciences is that
economists...
• A. cannot test hypotheses in laboratory conditions.
• B. cannot refute hypotheses.
• C. rely on observation to produce evidence.
• D. suffer the poverty of quantitative data.
• Correct: A
• Rationale: Positive statements use real-world data, a frequent distinction in intro
questions
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Q4: A positive statement...
• A. is one that can be tested.
• B. is one that is true.
• C. is one based on an opinion.
• D. cannot be refuted by looking at the evidence.
• Correct: A
• Rationale: Directly tested in ~80% of papers
Q5: A normative statement is...
• A. verifiable by facts.
• B. objective.
• C. based on an opinion.
• D. based on real world data.
• Correct: C
• Rationale: Contrasts with positive in value judgment questions
Q6: Which one of the following is a positive statement?
• A. The government should reduce the standard rate of income tax.
• B. The government ought to cut social security benefits.
• C. A cut in social security benefits will increase incentives to work.
• D. There needs to be an increase in defence spending.
• Correct: C
• Rationale: Testable outcome; normative options are distractors
, Smart Study HQ
Q7: 'Rising unemployment is a price worth paying to get inflation down'. This is an example of...
• A. a theory.
• B. a hypothesis.
• C. a positive statement.
• D. a value judgement.
• Correct: D
• Rationale: Normative phrasing; common trade-off scenario
Q8: The basic economic problem leads to which one of the following key economic decisions
that any economy must address?
• A. What the balance should be between the production of consumer and capital goods
• B. What, how, why, and for whom goods and services are produced
• C. Which goods should be made specifically for the export market and which should be
imported
• D. Which goods should be provided by the public sector and which by the private sector
• Correct: B
• Rationale: Core choices from scarcity
Q9: Economic decision-makers are primarily concerned with...
• A. increasing output.
• B. maximising their welfare.
• C. reducing prices.
• D. increasing international trade.
• Correct: B
• Rationale: Links to economic welfare and self-interest
