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  • GCE Economics

    Edexcel Advanced Subsidiary GCE in Economics (8EC01)First examination 2009

    Edexcel Advanced GCE in Economics (9EC01)First examination 2010

    Sample Assessment MaterialsSeptember 2007

  • Edexcel GCE in Economics Edexcel Limited 2007 Sample Assessment Materials 1

    Contents

    A Introduction ............................................................................................3B Sample question papers..............................................................................5 Unit 1: Competitive Markets - How They Work and Why They Fail............................. 7 Unit 2: Managing the Economy..................................................................... 31 Unit 3: Business Economics and Economic Efficiency .......................................... 47 Unit 4: The Global Economy........................................................................ 71 C Sample mark schemes.............................................................................103

    General marking guidance ......................................................................... 105 Unit 1: Competitive Markets - How They Work and Why They Fail ......................... 107 Unit 2: Managing the Economy.................................................................... 129 Unit 3: Business Economics and Economic Efficiency ......................................... 139 Unit 4: The Global Economy....................................................................... 151

  • Sample Assessment Materials Edexcel Limited 2007 Edexcel GCE in Economics2

  • Edexcel GCE in Economics Edexcel Limited 2007 Sample Assessment Materials 3

    A Introduction

    These sample assessment materials have been prepared to support the specification.

    Their aim is to provide the candidates and centres with a general impression and flavour of the actual question papers and mark schemes in advance of the first operational examinations.

  • Sample Assessment Materials Edexcel Limited 2007 Edexcel GCE in Economics4

  • Edexcel GCE in Economics Edexcel Limited 2007 Sample Assessment Materials 5

    B Sample question papers

    Unit 1: Competitive Markets - How They Work and Why They Fail ............................ 7 Unit 2: Managing the Economy..................................................................... 31 Unit 3: Business Economics and Economic Efficiency .......................................... 47 Unit 4: The Global Economy........................................................................ 71

  • Sample Assessment Materials Edexcel Limited 2007 Edexcel GCE in Economics6

  • Edexcel GCE in Economics Edexcel Limited 2007 Sample Assessment Materials 7

    Examiners use only

    Team Leaders use only

    Turn over

    Candidate No.

    Instructions to CandidatesIn the boxes above, write your centre number, candidate number, your surname, initials and signature. Check that you have the correct question paper.Answer ALL the questions in Section A and ONE question from Section B. Write your answers in the spaces provided in this question paper.Indicate which question you are answering by marking the box ( ).If you change your mind, put a line through the box ( ) and then indicate your new question with a cross ( ). Do not use pencil. Use blue or black ink.

    Information for CandidatesThe marks for individual questions and the parts of questions are shown in round brackets: e.g. (2).There are 10 questions in this question paper.The total mark for this paper is 80: 32 marks for Section A and 48 marks for Section B.There are 24 pages in this question paper. Any blank pages are indicated.

    Advice to CandidatesQuality of written communication will be taken into account in the marking of your answers in Section B, Question 9(c) and 9(d)(ii) or Question 10(d)(i) and 10(d)(ii). These questions are indicated with an asterisk. Quality of written communication includes clarity of expression, the structure and presentation of ideas and grammar, punctuation and spelling.

    Question Leave Number Blank

    1

    2

    3

    4

    5

    6

    7

    8

    9

    10

    Total

    Paper Reference(s)

    6EC01/1Edexcel GCEEconomicsAdvanced SubsidiaryUnit 1: Competitive Markets How They Work and Why They FailSample Assessment MaterialTime: 1 hour 30 minutes

    Materials required for examination Items included with question papersNil Nil

    This publication may be reproduced only in accordance with Edexcel Limited copyright policy. 2007 Edexcel Limited.

    Printers Log. No.

    N32848AW850/XXXX/57570 3/2

    *C32848A0120*

    Paper Reference

    6 E C 0 1 1

    Centre No.

    Surname Initial(s)

    Signature

  • Sample Assessment Materials Edexcel Limited 2007 Edexcel GCE in Economics8

    Leaveblank

    SECTION A

    Answer ALL the questions in this section.

    You should spend 30 minutes on this section. Use the data to support your answers where relevant. You may annotate and include diagrams in your answers.

    1. Statement 1: The government should increase the national minimum wage to reduce inequality.

    Statement 2: A significant increase in the national minimum wage above the market equilibrium wage is likely to cause unemployment.

    Which of the following best describes the two statements above?

    A Statement 1 is normative and statement 2 is positive.

    B Both statements are normative.

    C Statement 1 is positive and statement 2 is normative.

    D Both statements are positive.

    Answer(1)

    Explanation

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    ..............................................................................................................................................

    ..............................................................................................................................................

    ..............................................................................................................................................(3) Q1

    (Total 4 marks)

  • Edexcel GCE in Economics Edexcel Limited 2007 Sample Assessment Materials 9

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    2.

    Wheat (million tonnes)

    Y

    X

    Z

    100

    200

    100

    0

    Steel (million tonnes)

    The diagram refers to an economy producing two commodities, wheat and steel. At first the economy has production possibilities as shown by the line XY. The production possibility frontier then moves to ZY.

    Which of the following does this change show?

    A A decrease in production of steel.

    B An increase in the opportunity cost of producing wheat.

    C An increase in the demand for steel.

    D Technological improvements in the wheat industry.

    Answer (1)

    Explanation

    ..............................................................................................................................................

    ..............................................................................................................................................

    ..............................................................................................................................................

    ..............................................................................................................................................

    ..............................................................................................................................................

    ..............................................................................................................................................(3)

    Q2

    (Total 4 marks)

  • Sample Assessment Materials Edexcel Limited 2007 Edexcel GCE in Economics10

    Leaveblank

    3.

    B

    C

    D

    z

    y

    w

    v

    Wage rate of building workers

    Number of building workers0

    A

    S2

    S1

    S3

    D3D1D2

    x

    The diagram shows the labour market for building workers in London where the initial equilibrium position is X. Preparation work for the London Olympic Games has caused a significant increase in the demand for housing, roads and sporting venues. At the same time there has been an increase in immigration of building workers from Eastern Europe.

    What is likely to be the new equilibrium position A, B, C or D?

    Answer(1)

    Explanation

    ..............................................................................................................................................

    ..............................................................................................................................................

    ..............................................................................................................................................

    ..............................................................................................................................................

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