AS & A Level Economics (9708) — October–November 2024, Paper 42

5 questions · every question answerable online with instant point-by-point AI marking against the official mark scheme.

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Question 1 · 20 marks · The price system and the microeconomy - the labour market and interpretation of data

Identify the relationship between the variables shown in Fig. 1.1 and suggest one possible reason for the relationship.

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Question 2 · 20 marks · The price system and the microeconomy - utility (marginal and total utility, the equi-marginal principle) and the demand curve

Evaluate whether marginal utility theory can fully explain the link between the changing price of a good and quantity demanded of that good. [20]

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Question 3 · 20 marks · Government microeconomic intervention - privatisation, efficiency and market structures

Privatisation is often required by the International Monetary Fund (IMF) and the World Bank before they are prepared to offer support to countries requiring loans, grants, debt…

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Question 4 · 20 marks · The macroeconomy - national income statistics, standard of living and measures of economic welfare

The table below contains some key economic data for Mexico in 2020. Gross National Income (GNI) 18.5 billion pesos --- --- nominal wages +2.8% disposable income +1.2% unemployment…

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Question 5 · 20 marks · The macroeconomy / international economics - economic growth and development, foreign investment and borrowing in developing economies

Between 2010 and 2020, very low interest rates encouraged low-income countries to borrow money from foreign investors and governments to finance long-term economic growth.…

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