Section A
Case study
Is the UK housing market in crisis?
In the extracts: London, Feb Aug Feb, Aug Feb Aug, Countryside, John Lewis, Barratt, Persimmon and Taylor Wimpey, London Borough of Barnet, Affairs Select Committee, House of Lords'
Q1(a)Explain2 marks
Explain what is meant by 'competitive supply'.
Mark splitKnowledge 2
TopicMeasuring economic performanceDemand, supply and elasticity
Q1(b)Explain4 marks
Explain, using an appropriate diagram, the situation in the housing market described in lines 1–3.
Mark splitKnowledge 2Application 2
TopicMeasuring economic performanceDemand, supply and elasticity
Q1(c)(i)2 marks
Refer to Fig. 1. Calculate the percentage change in average house prices between August 2020 and August 2021.
Mark splitApplication 2
TopicMeasuring economic performanceDemand, supply and elasticity
Q1(c)(ii)2 marks
Compare the trend in average house prices and rental prices between 2015 and 2021.
Mark splitApplication 2
TopicMeasuring economic performanceDemand, supply and elasticity
Q1(d)8 marks
"A change to legislation in 2021 means that planning permission is no longer required to convert commercial buildings...into homes." Lines 9–11. Evaluate, using evidence from the stimulus material, the effectiveness of reducing regulation, such as planning permission, in order to increase the supply of housing and tackle the shortage of housing in the UK.
Mark splitKnowledge 1Application 1Analysis 3Evaluation 3
TopicGovernment intervention in marketsDemand, supply and elasticity
Q1(e)Evaluate12 marks
Evaluate, using evidence from the stimulus material, the extent to which the UK housing market can be considered to be an oligopoly.
Mark splitKnowledge 1Application 1Analysis 5Evaluation 5
TopicMarket structures
Section B
Q2OptionalEvaluate25 marks
Evaluate, using an appropriate diagram(s), whether monopolistic competition benefits consumers.
Mark splitKnowledge 6Application 6Analysis 6Evaluation 7
TopicMarket structures
Q3OptionalEvaluate25 marks
Evaluate, using an appropriate diagram(s), the likely microeconomic effects of such minimum prices.
Mark splitKnowledge 6Application 6Analysis 6Evaluation 7
TopicGovernment intervention in markets
Section C
Q4OptionalEvaluate25 marks
Evaluate whether healthcare should be provided by the government.
Mark splitKnowledge 6Application 6Analysis 6Evaluation 7
Q5Optional25 marks
Governments seek to increase the mobility of labour using a range of policies. Evaluate the impact an increase in labour mobility is likely to have on labour markets.
Mark splitKnowledge 6Application 6Analysis 6Evaluation 7
TopicThe labour market
