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GCSE
ECONOMICS
Paper 2 How the Economy Works
Tuesday 21 May 2024 Morning Time allowed: 1 hour 45 minutes
Materials
For Examiner’s Use
You will need no other materials.
You may use a calculator. Section Mark
A
Instructions
• Use black ink or black ball-point pen. B
• Fill in the boxes at the top of this page. TOTAL
• Answer all questions.
• You must answer the questions in the spaces provided. Do not write on
blank pages.
• If you need extra space for your answer(s), use the lined pages at the end of this book. Write the
question number against your answer(s).
• Do all rough work in this book. Cross through any work you do not want to be marked.
Information
• The marks for questions are shown in brackets.
• The maximum mark for this paper is 80.
• Questions should be answered in continuous prose. You will be assessed on your ability to:
– use good English
– organise information clearly
– use specialist vocabulary where appropriate.
*JUN248136201*
IB/H/Jun24/G4001/E6 8136/2
, 2
Do not write
outside the
Section A box
Answer all questions in the spaces provided.
For questions with four responses, only one answer per question is allowed.
For each question, completely fill in the circle alongside the appropriate answer.
CORRECT METHOD WRONG METHODS
If you want to change your answer you must cross out your original answer as shown.
If you wish to return to an answer previously crossed out, ring the answer you now wish to select
as shown.
0 1 Which of the following is the most likely effect of a large increase in interest rates?
[1 mark]
A Increased borrowing
B Increased consumer spending
C Increased economic growth
D Increased saving
0 2 Which of the following is an objective of the UK government?
[1 mark]
A Increasing inequality
B Increasing the budget deficit
C Managing environmental change
D Minimising economic growth
*02*
IB/H/Jun24/8136/2
, 3
Do not write
outside the
0 3 Which of the following is an example of a supply-side policy? box
[1 mark]
A Decreased direct taxes
B Decreased investment in education
C Increased taxes on business profits
D Increased trade union power
0 4 Which of the following best describes the type of unemployment caused by changes in
demand at certain times of the year?
[1 mark]
A Cyclical
B Frictional
C Seasonal
D Structural
0 5 A decrease in the money supply is most likely to lead to which of the following?
[1 mark]
A Decreased inflation
B Decreased unemployment
C Increased balance of trade deficit
D Increased economic growth
Turn over for the next question
Turn over ►
*03*
IB/H/Jun24/8136/2
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