Edexcel International · Unit 1: Markets in action · 1.4 The price mechanism, consumer and producer surplus

Edexcel International Economics past paper questions: The price mechanism, consumer and producer surplus

Every Edexcel International question on The price mechanism, consumer and producer surplus from 2019 to 2025: 1 data response question, 7 short answer questions and 5 multiple choice questions. Each question links to its paper, mark scheme and examiner report.

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Data response questions on the price mechanism, consumer and producer surplus

AS Unit 1, October 2021, Q12(d)Examine8 marks

Case study: The markets for rubber, tyres (tires) and rubber gloves

Examine the effect on producer surplus of the change in market conditions for rubber gloves as described in Extract C. Include a diagram in your answer.

Question paper p.17 Mark scheme p.14 Examiner report p.4 Open in the tool Draw it: supply and demand diagram

Short answer questions on the price mechanism, consumer and producer surplus

AS Unit 1, January 2025, Q9Explain4 marks

With reference to the information given, explain the difference between the rationing function and the incentive function of the price mechanism.

Question paper p.8 Mark scheme p.8 Examiner report p.4 Open in the tool

AS Unit 1, October 2022, Q11Explain4 marks

Explain the likely impact of this change in price on consumer surplus in the market for nectarines. Illustrate your answer with an appropriate diagram.

Question paper p.9 Mark scheme p.10 Examiner report p.4 Open in the tool Draw it: supply and demand diagram

AS Unit 1, October 2021, Q11Explain4 marks

Explain the likely impact of this change in price on consumer surplus. Illustrate your answer with a diagram.

Question paper p.12 Mark scheme p.10 Examiner report p.4 Open in the tool Draw it: supply and demand diagram

AS Unit 1, June 2021, Q11Explain4 marks

Explain the likely impact of this change in price on consumer surplus in the market for sweet potatoes. Illustrate your answer with a diagram.

Question paper p.10 Mark scheme p.12 Open in the tool Draw it: supply and demand diagram

AS Unit 1, January 2021, Q11Explain4 marks

Explain the effect of this increase in price on producer surplus in the market for palladium. Illustrate your answer with a diagram.

Question paper p.10 Mark scheme p.10 Examiner report p.5 Open in the tool Draw it: supply and demand diagram

AS Unit 1, January 2020, Q11Explain4 marks

Explain the likely impact of this fall in price on consumer surplus in the market for wheat. Illustrate your answer with a diagram.

Question paper p.10 Mark scheme p.8 Examiner report p.6 Open in the tool Draw it: supply and demand diagram

AS Unit 1, January 2019, Q11Explain4 marks

Explain the likely impact of this change on producer surplus in the market for sand. Illustrate your answer with a diagram.

Question paper p.11 Mark scheme p.9 Examiner report p.10 Open in the tool Draw it: supply and demand diagram

Multiple choice questions

AS Unit 1, June 2023, Q4
4 In South Africa demand for electric blankets increased by 250% in 2022. Which of the following combinations is the most likely impact on the market for electric blankets? Consumer surplus Price
AS Unit 1, January 2021, Q2
Which one of the following describes economies where resources are allocated by both the government and the price mechanism?
AS Unit 1, October 2020, Q5
Which one of the following can be deduced from the diagram?
AS Unit 1, October 2019, Q4
4 The diagram shows the market for vanilla pods. Price per kg of vanilla T S pods U P1 X Pe W V D D1 0 Qe Q1 Quantity of vanilla pods, kg Madagascar is the world's largest supplier of vanilla pods. Higher demand for natural flavourings in…
AS Unit 1, January 2019, Q2
2 Which one of the following is a function of the price mechanism?

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.

Data response questions on the price mechanism, consumer and producer surplus

Short answer questions on the price mechanism, consumer and producer surplus

Multiple choice questions

More Edexcel International topics: Markets in action