AQA • Economics

Verifed exam papers with Marke scheme

AQA A Level Microeconomics 2024 Paper with Mark Scheme included.

Mind map of the long run and short run causes of economics growth, and the consequenses, advantages, disadvantages and evaluation. Diagrams and definitions included.

This document contains the full 2024 GCSE Economics Paper 2 (8136/2) from AQA, titled "How the Economy Works." It includes all multiple-choice and extended-response questions covering key economic topics such as inflation, unemployment, taxation, government policy, globalisation, market failure, and economic growth. Suitable for students revising for exams or teachers preparing assessment materials, this paper follows the latest AQA specification and exam structure.

A-level AQA ECONOMICS Paper 3 Economic Principles and Issues 2024

A-level AQA ECONOMICS 7136/3 Paper 3 Economic Principles and Issues Mark scheme June 2024

Production and productivity -Production converts inputs, or the services of factors of production such as capital and labour, into final output. -The meaning of productivity, including labour productivity. Specialisation, division of labour and exchange -The benefits of specialisation and division of labour. -Why specialisation necessitates an efficient means of exchanging goods and services, such as the use of money as a medium of exchange. Costs of production -The difference...

How markets and prices allocate resources -The rationing, incentive and signalling functions of prices in allocating resources and coordinating the decisions of buyers and sellers in a market economy. -The price mechanism is the way in which the basic economic problem is resolved in a market economy.

Price, income and cross elasticities of demand -Be able to calculate price, income and cross elasticities of demand. -The relationship between income elasticity of demand and normal and inferior goods. -The relationship between cross elasticity of demand and substitute and complementary goods. -The relationships between price elasticity of demand and firms’ total revenue (total expenditure). -The factors that influence these elasticities of demand. Price elasticity of supply -Be a...

Consumer behaviour -Rational economic decision making and economic incentives. -Utility theory: total and marginal utility, and the hypothesis of diminishing marginal utility. -Utility maximisation. -The importance of the margin when making choices. The determinants of the demand for goods and services -A demand curve shows the relationship between price and quantity demanded. -The causes of shifts in the demand curve. The determinants of the supply of goods and services -A su...