Exam (elaborations)
Edexcel A-Level Economics (A) 2024 Paper 1
Institution
PEARSON (PEARSON)
Edexcel A-Level Economics (A) 2024 Paper 1
[Show more]
Preview 4 out of 32 pages
Uploaded on
September 17, 2024
Number of pages
32
Written in
2024/2025
Type
Exam (elaborations)
Contains
Only questions
edexcel a
exonomics a
rconomics a
economics a
a level
edezcel
2024
paper 1
mark scheme
economics paper 1
Study Level
A/AS Level
Examinator
PEARSON (PEARSON)
Subject
Economics A
Unit
Markets and Business Behaviour
All documents for this subject (4)
$6.83
Also available in package deal from $11.62
Added
Add to cart
Add to wishlist
100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached
Also available in package deal (7)
Edexcel A-Level Economics (A) Paper 1 and Mark Scheme 2024
Edexcel A-Level Economics (A) 2024 Papers 1,2 and 3
1. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1
2. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2
3. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3
Show more
Edexcel A-Level Economics (A) Paper 1,2 and 3 WITH ALL Mark Schemes 2024
1. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1 mark scheme
2. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1
3. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2
4. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2 mark scheme
5. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3 mark scheme
6. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3
Show more
Edexcel AS Level Economics (A) Paper 1,2 and A-Level Economics (A) Papers 1,2 and 3 ALL WITH MARK SCHEMES 2024
1. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1 mark scheme
2. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1
3. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2
4. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2 mark scheme
5. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3 mark scheme
6. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3
7. Exam (elaborations) - Edexcel as level 2024 economics (a) paper 1 mark scheme
8. Exam (elaborations) - Edexcel as level 2024 economics (a) paper 1
9. Exam (elaborations) - Edexcel as level 2024 economics (a) paper 2 mark scheme
10. Exam (elaborations) - Edexcel as level 2024 economics (a) paper 2
Show more
Edexcel AS Level Economics (A) Paper 1,2 and A-Level Economics (A) Papers 1,2 and 3 2024
1. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1
2. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2
3. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3
4. Exam (elaborations) - Edexcel as level 2024 economics (a) paper 1
5. Exam (elaborations) - Edexcel as level 2024 economics (a) paper 2
Show more
Edexcel AS Level Mathematics AND Edexcel A-Level Economics (A) 2024 ALL PAPERS AND MARK SCHEMES
1. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1 mark scheme
2. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1
3. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2
4. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2 mark scheme
5. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3 mark scheme
6. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3
7. Exam (elaborations) - Edexcel as level pure mathematics paper 1 2024
8. Exam (elaborations) - Edexcel as level pure mathematics paper 1 mark scheme 2024
9. Exam (elaborations) - Edexcel as level statistics paper 2024
10. Exam (elaborations) - Edexcel as level statistics mark scheme 2024
11. Exam (elaborations) - Edexcel as level mechanics mark scheme 2024
12. Exam (elaborations) - Edexcel as level mechanics paper 2024
Show more
Edexcel A-Level Mathematics AND Edexcel A-Level Economics (A) 2024 ALL PAPERS AND MARK SCHEMES
1. Other - Edexcel a-level pure mathematics 2024 paper 1
2. Exam (elaborations) - Edexcel a-level mechanics mark scheme 2024
3. Exam (elaborations) - Edexcel a-level statistics mark scheme 2024
4. Exam (elaborations) - Edexcel a-level mechanics paper 2024
5. Exam (elaborations) - Edexcel a-level pure mathematics paper 2 2024
6. Exam (elaborations) - Edexcel a-level pure mathematics paper 2 mark scheme 2024
7. Exam (elaborations) - Edexcel a-level pure mathematics 2024 paper 1 mark scheme
8. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1 mark scheme
9. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 1
10. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2
11. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 2 mark scheme
12. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3 mark scheme
13. Exam (elaborations) - Edexcel a-level economics (a) 2024 paper 3
14. Exam (elaborations) - Edexcel a-level statistics paper 2024
Show more
Please check the examination details below before entering your candidate information
Candidate surname Other names
Centre Number Candidate Number
Pearson Edexcel Level 3 GCE
Wednesday 15 May 2024
Morning (Time: 2 hours) Paper
reference 9EC0/01
Economics A
Advanced
PAPER 1: Markets and business behaviour
You must have a calculator. Total Marks
Instructions
• Use black ink or ball-point pen.
• Fill in the boxes at the top of this page with your name, centre number
and candidate number.
• There are three sections in this question paper. Answer all questions from
Section A and Section B. Answer one question from Section C.
• Answer the questions in the spaces provided
– there may be more space than you need.
• Calculators may be used.
Information
• The total mark for this paper is 100.
• The marks for each question are shown in brackets
– use this as a guide as to how much time to spend on each question.
Advice
• Read each question carefully before you start to answer it.
• Checkanswer
Try to every question.
• your answers if you have time at the end.
Turn over
P73999A
©2024 Pearson Education Ltd.
F:1/1/1/1/1/1/1/1/1
*P73999A0132*
, SECTION A
Answer ALL questions. Write your answers in the spaces provided.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Some questions must be answered with a cross in a box . If you change your mind about
an answer, put a line through the box and then mark your new answer with a cross .
You are advised to spend 30 minutes on this section.
Use the data to support your answers where relevant.
You may annotate and include diagrams in your answers.
1 The table below shows price elasticity of demand for bus tickets in London 2021
Age Price elasticity of demand
18+ Student −0.7
Adult −0.4
(Source adapted from: https://assets.publishing.service.gov.uk/government/uploads/
system/uploads/attachment_data/file/669090/youth-travel-concessions-price-elasticity.pdf
and https://tfl.gov.uk/fares/find-fares/bus-and-tram-fares#on-this-page-4)
(a) Explain one likely reason for the difference in the price elasticity of demand for the
18+ student bus ticket and the adult bus ticket.
(4)
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................................................................................... . . . . . . . . . . . . . . . . . . . .
2
*P73999A0232*
, . . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
(b) In 2021, the adult 7-day bus ticket was £21.90. Bus ticket prices in London in 2022
increased by 4.8%. Ceteris paribus, which one of the following is the percentage
decrease in the 7-day bus ticket demand by adults?
(1)
A 0.08
B 1.92
C 3.36
D 12.00
(Total for Question 1 = 5 marks)
3
*P73999A0332* Turn over
, 2 The table below shows price elasticity of supply for housing in the US in 2020.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
US State Price elasticity of supply
New York +0.5
Texas +1.8
(Source adapted from: https://bankunderground.co.uk/2020/02/25/
the-declining-elasticity-of-us-housing-supply/)
(a) With reference to the data above, explain one likely reason for the difference in
the price elasticity of supply.
(4)
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ .............. .. . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . .. .. .. .. .. .. .. .. .. .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................................................................ ................ . . . . . . . . . . . . . . . . . . . .
4
*P73999A0432*