Component 1: Introduction to Economic Principles · B520U10-1

Eduqas AS Component 1, June 2023

All 10 written questions from Eduqas AS Component 1 (June 2023), Component 1: Introduction to Economic Principles. 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

Q1(a)Define3 marks

Define the meaning of income inequality.

Mark splitKnowledge 3

TopicPoverty and inequality

Question paper p.3 Mark scheme p.4 Examiner report p.6 Open in the tool

Q1(b)4 marks

Using a numerical example, outline how the income gap in Singapore dollars could worsen even when income growth for low earners is faster than high earners.

Mark splitKnowledge 2Application 2

TopicPoverty and inequalityAggregate demandMacroeconomic objectives and policy

Question paper p.4 Mark scheme p.5 Examiner report p.6 Open in the tool

Q1(c)8 marks

Using Figures 1, 2 and 3, consider how effective these policies seem to have been in reducing income inequality.

Mark splitApplication 4Analysis 2Evaluation 2

TopicPoverty and inequality

Question paper p.5 Mark scheme p.6 Examiner report p.6 Open in the tool

Q2Explain5 marks

Drawing an aggregate demand (AD) curve, explain one reason why a reduction in the price level should lead to an increase in aggregate demand (AD).

TopicAggregate demandMeasuring economic performance

Question paper p.6 Mark scheme p.8 Examiner report p.6 Open in the tool

Q3(a)4 marks

Using a demand and supply diagram, show the likely impact of this change in tax rates.

Mark splitKnowledge 2Application 2

TopicGovernment intervention in marketsMeasuring economic performanceMacroeconomic objectives and policy

Question paper p.7 Mark scheme p.9 Examiner report p.7 Open in the tool Draw it: supply and demand diagram

Q3(b)10 marks

Using the data, discuss the extent to which Modi's economic policies (page 7) have been successful in bringing back the "good days" to the Indian economy.

Mark splitApplication 4Analysis 3Evaluation 3

TopicGovernment intervention in marketsMeasuring economic performanceMacroeconomic objectives and policy

Question paper p.9 Mark scheme p.10 Examiner report p.7 Open in the tool

Q4(a)3 marks

State the difference between an economic good and a free good.

Mark splitKnowledge 3

TopicThe economic problem and resource allocation

Question paper p.10 Mark scheme p.13 Examiner report p.7 Open in the tool

Q4(b)Discuss8 marks

Discuss whether local government should provide outdoor gyms.

Mark splitApplication 3Analysis 2Evaluation 3

Question paper p.10 Mark scheme p.14 Examiner report p.7 Open in the tool

Q5(a)6 marks

Using the diagram below, calculate the change in consumer surplus resulting from these two actions.

Mark splitKnowledge 1Application 5

TopicDemand, supply and elasticity

Question paper p.12 Mark scheme p.16 Examiner report p.8 Open in the tool Draw it: supply and demand diagram

Q5(b)9 marks

Using the data, discuss the likely effect on the USA economy of China restricting its exports of rare-earth minerals to the USA.

Mark splitApplication 3Analysis 3Evaluation 3

TopicInternational trade and exchange rates

Question paper p.14 Mark scheme p.17 Examiner report p.8 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.

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