Paper 1: Markets, consumers and firms · 8EB0/01
Edexcel B AS Paper 1, November 2020
All 11 written questions from Edexcel B AS Paper 1 (November 2020), Markets, consumers and firms. Case studies: D.A.P. Ltd. (DAP), Top of the class and Food Standards Agency labelling on foods. Each question shows its marks and topic, and opens the question paper and mark scheme at the right page.
Summer exams were cancelled, so this paper was sat in the autumn series. The paper itself is headed with the original summer date.
Section A
Case study
D.A.P. Ltd. (DAP)
Extracts: A: D.A.P. Ltd. (DAP) · B: Statement of comprehensive income for DAP year ending 31 December 2018
In the extracts: DAP, David, Colombia, Sales, Managing Director David, Producing, Expansion, Statement, Operating, Dividends
Q1(a)Define2 marks
What is meant by the term ‘break-even’?
Mark splitKnowledge 2
TopicRevenue, costs, profits and cash
Q1(b)Calculate4 marks
Calculate, to 2 decimal places, the operating profit margin for DAP for the year ending 31 December 2018. You are advised to show your working.
Mark splitKnowledge 1Application 3
TopicRevenue, costs, profits and cash
Q1(c)Illustrate4 marks
Using a supply and demand diagram, illustrate the likely impact of this new technology on the market for auto-electrical components.
Mark splitKnowledge 2Application 1Analysis 1
TopicIntroducing the market
Q1(d)Discuss8 marks
Discuss the disadvantages for a firm such as DAP of a bank requiring collateral before giving a loan.
Mark splitKnowledge 2Application 2Analysis 2Evaluation 2
TopicThe role of credit in the economy
Q1(e)Assess12 marks
Assess the advantages of specialisation for a firm such as DAP.
Mark splitKnowledge 2Application 2Analysis 4Evaluation 4
TopicScarcity, choice and potential conflicts
Section B
Case study
Top of the class
Extracts: C: Top of the class · D: Cash flow forecast for Mint Tutors January – April 2019
In the extracts: Mint Tutors, Christine, GCSE, Cash, Christine Marshall, Jan Feb Mar, Advertising, Apr Cash, Opening, Closing
Q2(a)Define2 marks
What is meant by the term ‘income’?
Mark splitKnowledge 2
TopicThe economic cycle
Q2(b)Explain4 marks
Explain why Mint Tutors may have needed an overdraft in February 2019.
Mark splitKnowledge 1Application 2Analysis 1
TopicThe role of credit in the economy
Q2(c)Calculate4 marks
Calculate, to 2 decimal places, the forecast number of tutorials for Mint Tutors in the first four months of 2019. You are advised to show your working.
Mark splitKnowledge 1Application 3
TopicIntroducing the market
Q2(d)Discuss8 marks
Discuss the likely impact on the demand curve for Mint Tutors from an increase in the price of tutorials during these three months.
Mark splitKnowledge 2Application 2Analysis 2Evaluation 2
TopicIntroducing the market
Q2(e)Assess12 marks
Assess the extent to which non-financial motives are important for Christine when running Mint Tutors.
Mark splitKnowledge 2Application 2Analysis 4Evaluation 4
TopicEnterprise, business and the economy
Section C
Case study
Food Standards Agency labelling on foods
Extracts: E: Food Standards Agency labelling on foods · F: Best before dates linked to massive amounts of Canadian food waste
In the extracts: Canadian, Best, Food, Food Standards Agency, Food Standard Agency, National Zero Waste, Denise Philippe, Labelling, Canadians, Everyone
Q3Evaluate20 marks
Evaluate the extent to which food labelling regulations could be considered a government failure.
Mark splitKnowledge 4Application 4Analysis 6Evaluation 6
TopicMarket failure and government intervention