Component 2: Exploring Economic Issues · B520U20-1

Eduqas AS Component 2, October 2020

All 11 written questions from Eduqas AS Component 2 (October 2020), Component 2: Exploring Economic Issues. Case studies: Zambian economy boosted by rising copper prices and UK growth helped by World Cup and warm weather. 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

Autumn series, sat in October because the summer exams were cancelled.

Case study

Zambian economy boosted by rising copper prices

In the extracts: Zambia, Zambian, Bank of Zambia, Central Statistical Office

Q1(a)Explain6 marks

With reference to the data and using a supply and demand diagram, explain why the price of copper is rising.

Mark splitKnowledge 2Application 2Analysis 2

TopicInternational trade and exchange ratesMacroeconomic objectives and policyEconomic growth and the economic cycle

Question paper p.4 Mark scheme p.4 Examiner report p.5 Open in the tool Draw it: supply and demand diagram

Q1(b)8 marks

Using an exchange rate diagram and Figures 1 and 2, evaluate the link between the world price of copper and Zambia's exchange rate.

Mark splitKnowledge 2Application 2Analysis 2Evaluation 2

TopicInternational trade and exchange rates

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

Q1(c)Explain6 marks

Explain why Zambia's budget/fiscal deficit was expected to fall.

Mark splitKnowledge 2Application 2Analysis 2

TopicPublic finances and the role of the stateMacroeconomic objectives and policy

Question paper p.4 Mark scheme p.9 Examiner report p.5 Open in the tool

Q1(d)8 marks

Using appropriate economic analysis, discuss whether introducing more environmental regulations would be a good way of correcting the market failures described in the copper industry.

Mark splitKnowledge 2Analysis 2Evaluation 4

TopicMarket failureGovernment intervention in markets

Question paper p.4 Mark scheme p.11 Examiner report p.5 Open in the tool

Q1(e)12 marks

Using a minimum wage diagram and an AD/AS diagram, consider whether the minimum wage increases described in the data would be "bad for the economy at both a micro and macroeconomic level".

Mark splitKnowledge 4Application 2Analysis 2Evaluation 4

TopicThe labour market

Question paper p.4 Mark scheme p.13 Examiner report p.5 Open in the tool Draw it: AD/AS diagram

Case study

UK growth helped by World Cup and warm weather

In the extracts: Bank of England, World Cup, ONS, Office for National Statistics, Economist Andy Haldane, Rob Kent-Smith, Labour Party

Q2(a)2 marks

With reference to Figure 2, outline what is most likely to happen to the price level between 2018 and 2021.

Mark splitKnowledge 1Application 1

TopicMeasuring economic performance

Question paper p.7 Mark scheme p.16 Examiner report p.6 Open in the tool

Q2(b)10 marks

To what extent do you agree with the view that the Bank of England "does not have the tools to bring about lasting change" in productivity levels in the UK economy?

Mark splitKnowledge 3Analysis 3Evaluation 4

TopicMacroeconomic objectives and policy

Question paper p.7 Mark scheme p.17 Examiner report p.6 Open in the tool

Q2(c)Explain4 marks

Explain why a heavily negative net export figure is a 'drag on economic growth'.

Mark splitKnowledge 2Analysis 2

TopicEconomic growth and the economic cycleInternational trade and exchange rates

Question paper p.7 Mark scheme p.19 Examiner report p.6 Open in the tool

Q2(d)Evaluate8 marks

Evaluate the view that the Bank of England should have its inflation target increased to 4 %-5 %.

Mark splitKnowledge 2Application 2Analysis 2Evaluation 2

TopicMacroeconomic objectives and policyMeasuring economic performance

Question paper p.7 Mark scheme p.20 Examiner report p.6 Open in the tool Practise the AD/AS diagram

Q2(e)Explain6 marks

With reference to the data, explain why the UK government might want to increase the rate of economic growth.

Mark splitKnowledge 2Application 2Analysis 2

TopicEconomic growth and the economic cycle

Question paper p.7 Mark scheme p.22 Examiner report p.6 Open in the tool

Q2(f)10 marks

To what extent will a steady rise in interest rates help to shift the balance of economic growth away from consumption and towards investment and net exports?

Mark splitKnowledge 3Application 2Analysis 2Evaluation 3

TopicAggregate demandMacroeconomic objectives and policyEconomic growth and the economic cycle

Question paper p.7 Mark scheme p.23 Examiner report p.6 Open in the tool Practise the AD/AS diagram

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.

Zambian economy boosted by rising copper prices

UK growth helped by World Cup and warm weather

Other years of Eduqas AS Component 2

Topics on this paper