Unit 1 - Introduction to markets and market failure
Exam (elaborations)
1.1- Nature of Economics- A level Economics Edexcel Exam Questions
24 views 0 purchase
Course
Unit 1 - Introduction to markets and market failure
Institution
PEARSON (PEARSON)
Memorsing content can only take you so far, so use exam questions effectively to prepare yourself for the actual exam. This document will help you do so, it contains a mix of exam style questions with extract/sources just like the real exam. The marks are for AS level but you can just as easily use...
Unit 1 - Introduction to markets and market failure
All documents for this subject (195)
Seller
Follow
EconomicsNoteAndExamQuestions
Reviews received
Content preview
UNIT ASSESSMENT
Edexcel A Level
Economics
Unit Assessment
1.1 The Nature of
Economics
(Edition 1)
h X minutes
h The maximum mark for this unit assessment is X
Name
Centre Name
, Edexcel A Level Economics (A)
Unit Assessment 1.1
The Nature of Economics
Section A
ANSWER ALL THE QUESTIONS
1a Economics is a science that:
A does not rely on assumptions.
B is unable to make scientific experiments.
C can always predict future outcomes.
D allocates infinite resources.
(1 mark)
1b Statement 1: The need to improve the living standards of low-income groups is sufficient
justification for introducing a legal national minimum wage.
Statement 2: Setting a legal national minimum wage rate above the market equilibrium rate is
likely to cause unemployment.
Which of the following descriptions best describes these two statements?
A Statement 1 is positive and statement 2 is normative.
B Both statements are positive.
C Statement 1 is normative and statement 2 is positive.
D Both statements are normative.
(1 mark)
1c With reference to the statements in Question 1b, distinguish between positive and normative
economic statements.
(3 marks)
Page 2 Edexcel A Level Economics Unit Assessment www.tutor2u.net/economics
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EconomicsNoteAndExamQuestions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.89. You're not tied to anything after your purchase.
