Component 3: Evaluating Economic Models and Policies · A520U30-1

Eduqas A-level Component 3, June 2024

All 12 written questions from Eduqas A-level Component 3 (June 2024), Component 3: Evaluating Economic Models and Policies. Each question shows its marks and topic, and opens the question paper and mark scheme at the right page.

Question paper Mark scheme Examiner report

Section A

Q1.1OptionalExplain10 marks

Explain what is meant by labour market flexibility and the factors which can reduce it.

Mark splitKnowledge 6Analysis 4

TopicThe labour market

Question paper p.2 Mark scheme p.4 Examiner report p.13 Open in the tool

Q1.2OptionalDiscuss20 marks

Discuss whether a cut to the UK's national minimum and living wages would be economically desirable.

Mark splitKnowledge 6Analysis 6Evaluation 8

TopicThe labour market

Question paper p.2 Mark scheme p.6 Examiner report p.13 Open in the tool

Q2.1Optional10 marks

Outline what is meant by collusion and explain why it may occur in oligopolistic markets.

Mark splitKnowledge 6Analysis 4

TopicMarket structures

Question paper p.2 Mark scheme p.8 Examiner report p.13 Open in the tool Practise the monopoly diagram Practise the kinked demand diagram

Q2.2OptionalDiscuss20 marks

Discuss whether oligopolies are desirable market structures.

Mark splitKnowledge 6Analysis 6Evaluation 8

TopicMarket structures

Question paper p.2 Mark scheme p.10 Examiner report p.13 Open in the tool Practise the kinked demand diagram

Section B

Q3.1Optional10 marks

Using a diagram, explain what is meant by the circular flow of income.

Mark splitKnowledge 6Analysis 4

TopicNational income and the circular flow

Question paper p.3 Mark scheme p.13 Examiner report p.13 Open in the tool

Q3.2OptionalEvaluate20 marks

Evaluate the view that an economy will automatically adjust to reach equilibrium at full employment (the NAIRU).

Mark splitKnowledge 6Analysis 6Evaluation 8

TopicDemand, supply and elasticity

Question paper p.3 Mark scheme p.15 Examiner report p.14 Open in the tool Practise the AD/AS diagram Practise the Phillips curve diagram

Q4.1Optional10 marks

Outline what is meant by deflation and explain how governments might intervene to control it.

Mark splitKnowledge 6Analysis 4

TopicMeasuring economic performance

Question paper p.3 Mark scheme p.18 Examiner report p.14 Open in the tool Practise the AD/AS diagram

Q4.2OptionalEvaluate20 marks

Evaluate the extent to which deflation is a serious problem for an economy.

Mark splitKnowledge 6Analysis 6Evaluation 8

TopicMeasuring economic performance

Question paper p.3 Mark scheme p.20 Examiner report p.14 Open in the tool Practise the AD/AS diagram

Section C

Q5.1Optional10 marks

With the aid of a diagram, explain how the imposition of a tariff can lead to a decline in economic welfare.

Mark splitKnowledge 6Analysis 4

TopicInternational trade and exchange ratesGrowth and development

Question paper p.4 Mark scheme p.22 Examiner report p.14 Open in the tool

Q5.2OptionalAssess20 marks

Assess the extent to which an increasingly integrated world economy is beneficial to the UK.

Mark splitKnowledge 6Analysis 6Evaluation 8

Question paper p.4 Mark scheme p.24 Examiner report p.14 Open in the tool

Q6.1OptionalExplain10 marks

Explain why rapid population growth can be an obstacle to economic development in low-income countries.

Mark splitKnowledge 6Analysis 4

TopicGrowth and development

Question paper p.4 Mark scheme p.26 Examiner report p.14 Open in the tool

Q6.2Optional20 marks

In low-income countries, how effective is a rise in government spending on education likely to be in terms of increasing economic development?

Mark splitKnowledge 6Analysis 6Evaluation 8

TopicAggregate demandMacroeconomic objectives and policy

Question paper p.4 Mark scheme p.28 Examiner report p.15 Open in the tool

Question text is quoted from the question papers, © WJEC CBAC Ltd (Eduqas), 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.

Section A

Section B

Section C

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