Unit 1: Markets in action · WEC11/01
Edexcel International AS Unit 1, October 2022
All 12 written questions and 6 multiple choice questions from Edexcel International AS Unit 1 (October 2022), Markets in action. Case studies: The semiconductor market. Each question shows its marks and topic, and opens the question paper and mark scheme at the right page.
Section A
- ATotal utility will rise at a faster rate as more of a product is consumed
- BThe supply curve for a product will slope upwards
- CThe demand curve for a product will slope downwards
- DTotal utility will rise at a constant rate as more of a product is consumed
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The answer is C.
- AT he largest percentage decline in the use of the non-renewable resource for electricity generation was in South Korea
- BThe largest percentage increase in the use of the renewable resource for electricity generation was in the USA
- CIn all countries the use of the non-renewable resource for electricity generation increased
- DIn all countries the use of the renewable resource for electricity generation decreased
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The answer is B.
- AOrganic meat and non-organic meat are substitutes
- BOrganic meat and non-organic meat are normal goods
- COrganic meat and non-organic meat are unrelated goods
- DOrganic meat and non-organic meat are complements
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The answer is A.
- APoint Z is unobtainable when using all available resources
- BPoint Y would generate higher economic growth than point X
- CT he movement from point X to point Y has an opportunity cost of 50 capital goods
- DT he movement from point X to point Y has an opportunity cost of 25 consumer goods
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The answer is C.
- AConsumers remain with their current provider because they cannot calculate the possible savings
- BConsumers remain with their current provider because they do not feel valued
- CConsumers remain with their current provider because they are influenced by the behaviour of their friends and family
- DConsumers remain with their current provider because they believe that the effort required to switch will be too great
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The answer is D.
- ASol 94 500
- BSol 126 000
- CSol 220 500
- DSol 228 000
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The answer is B.
Section B
Section C
Case study
The semiconductor market
Extracts: Extract A: Semiconductor shortage · Extract B: Excess demand for semiconductors affects car manufacturers · Figure 1: Fall in the revenues of car manufacturers in 2021, $ billion, by region · Extract C: Subsidies to semiconductor manufacturers in the USA · Extract A: adapted from https://uk.expensereduction.com/news/semiconductor-shortage-to-cause- · Extract B: adapted from:
In the extracts: South Europe China America, South Korea Asia, General Motors, North Japan, USA, Semiconductors, Car, Excess, Manufacturers, Nissan
Section D
Question text is quoted from the question papers, © Pearson Edexcel, for students’ private study. Open the official papers and mark schemes from the links on each question. Examiner insights are written with AI assistance and moderated by Finn.