PEARSON EDEXCEL LEVEL 3 GCE ECONOMICS, MARKETS AND BUSINESS BEHAVIOR. Q$ A answers.

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Answer ALL questions. Write your answers in the spaces provided. 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 Statement 1: Since Poland joined the European Union (EU) in 2004, over one million of its workforce have migrated to other countries in the EU. Statement 2: Many engineers have left Poland for higher paid jobs in other countries in the EU. (Source: https://www.forbes.com/sites/freylindsay/2019/08/09/polands-emigration-rate-isfalling-but-people-are-still-worried-about-the-brain-drain-bogeyman/#9550525792e6) (a) Which one of the following best describes the two statements above? (1) A B C D Statement 1 Statement 2 Normative Normative Normative Positive Positive Normative Positive Positive*P65664A0336* Turn over 3 (b) Explain the likely impact of migration on the wage level of engineers in Poland. 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(Total for Question 1 = 5 marks)4 *P65664A0436* 2 Cobalt is a key metal used in the batteries of electric cars. China is the world’s largest producer of electric cars but has recently cut subsidies to its manufacturers. The Democratic Republic of the Congo (DRC) produces more than 60% of the world’s supply of cobalt, from its small-scale mines. Many new small mines opened in 2018 as a result of improved expectations of profit. The following graph shows the price of cobalt between June 2018 and June 2019. $ per pound weight (454 grams) June 2018 June 2019 45 40 35 30 25 20 15 10 5 0*P65664A0536* Turn over 5 (a) With reference to the information provided, draw a supply and demand diagram to show why the price of cobalt fell between June 2018 and June 2019. [Show More]

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