AQA A-level ECONOMICS 7136/3 PAPER 3 ECONOMIC PRINCIPLES AND ISSUES Question Paper + Mark scheme (Merged) GRADE A+

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AQA A-level ECONOMICS 7136/3 PAPER 3 ECONOMIC PRINCIPLES AND ISSUES Question Paper + Mark scheme (Merged) June 2021 Version: 1.0 Final *JUN217136301* IB/M/Jun21/E8 7136/3 For Examiner’s Use... Section Mark A B TOTAL Time allowed: 2 hours Materials For this paper you must have: • the insert • a calculator. Instructions • Answer all questions. • Use black ink or black ball-point pen. Pencil should only be used for drawing. • Fill in the boxes at the top of this page. • You will need to refer to the insert provided to answer Section B. • You must answer the questions in the spaces provided. Do not write outside the box around each page or 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 answer book. Cross through any work that you do not want to be marked. Information • The maximum mark for this paper is 80. • The marks for questions are shown in brackets. • No deductions will be made for wrong answers. Please write clearly in block capitals. Centre number Candidate number Surname Forename(s) Candidate signature I declare this is my own work. A-level ECONOMICS Paper 3 Economic Principles and Issues 2 *02* IB/M/Jun21/7136/3 Section A Answer all questions in this section. 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 The average university graduate can expect to earn more over their working life than the average school leaver. This is most likely to be explained by A discrimination in the labour markets for non-graduates. B the higher marginal revenue productivity of graduates. C the higher price elasticity of demand for graduates. D the relatively low elasticity of supply of non-graduates. [1 mark] 0 2 Which one of the following statements regarding supply-side policies is correct? Supply-side policies A can have microeconomic as well as macroeconomic effects on the economy. B can increase the potential output of an economy but not its trend rate of growth. C cannot be used to correct market failures and improve the operation of markets. D do not affect competitiveness or the current account of the balance of payments. [1 mark] Do not write outside the box 3 *03* Turn over ► IB/M/Jun21/7136/3 Do not write outside the box 0 3 Figure 1 shows the marginal private benefit and marginal social benefit (MPB and MSB) curves and the marginal private cost and marginal social cost (MPC and MSC) curves in the market for a good. Figure 1 The diagram represents a good with A negative externalities in production and consumption. B negative externalities in production and positive externalities in consumption. C positive externalities in production and consumption. D positive externalities in production and negative externalities in consumption. [1 mark] [Show More]

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