GCSE ECONOMICS Paper 1F How markets work

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Section A 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 app... ropriate 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 best describes the central purpose of economic activity? [1 mark] A Earning high incomes B Making maximum profits C Maximising efficiency D Producing goods and services to satisfy needs and wants 0 2 Which of the following is not one of the main economic groups? [1 mark] A Consumers B Government C Producers D Workers Do not write outside the box3 *03* Turn over ► IB/M/Jun21/8136/1 Do not write outside the 0 3 In which occupations will wages tend to be highest? box In those where: [1 mark] A workers are in excess demand. B workers are paid on a weekly basis. C workers need little training. D workers require few qualifications. 0 4 Which of the following would be classed as an economic resource? [1 mark] A Enterprise B Productivity C Profit D Wages Turn over for the next question4 *04* IB/M/Jun21/8136/1 Do not write outside the 0 5 Which of the following would lead to a leftwards shift of the supply curve for oranges? box [1 mark] A A fall in the cost of fertiliser B An increase in the price of oranges C An increase in the wages of orange pickers D The introduction of new technology in orange growing [Show More]

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