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OCR A Level Economics H460/03 Themes in economics FINAL QUESTION PAPER JUNE 2022 $14.69   Add to cart

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OCR A Level Economics H460/03 Themes in economics FINAL QUESTION PAPER JUNE 2022

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Monday 13 June 2022 – Afternoon A Level Economics H460/03 Themes in economics Time allowed: 2 hours * H 4 6 0 0 3 * INSTRUCTIONS • Use black ink. You can use an HB pencil, but only for graphs and diagrams. • Write your answer to each question in the ...

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  • July 13, 2023
  • 28
  • 2022/2023
  • Exam (elaborations)
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A LEVEL ECONOMICS




Oxford Cambridge and RSA

Monday 13 June 2022 – Afternoon
A Level Economics
H460/03 Themes in economics
Time allowed: 2 hours
You can use:
*




a scientific or graphical calculator
9
0
6
3
9
8
2




* H 4 6 0 0 3 *

Please write clearly in black ink. Do not write in the barcodes.

Centre number Candidate number


First name(s)

Last name


INSTRUCTIONS
• Use black ink. You can use an HB pencil, but only for graphs and diagrams.
• Write your answer to each question in the space provided. If you need extra space use
the lined pages at the end of this booklet. The question numbers must be clearly
shown.
• Answer all the questions.

INFORMATION
• The total mark for this paper is 80.
• The marks for each question are shown in brackets [ ].
• Quality of extended response will be assessed in questions marked with an asterisk (*).
• This document has 28 pages.

ADVICE
• Read each question carefully before you start your answer.




© OCR 2022 [601/4799/4]
OCR is an exempt Charity
DC (ST/SW) 300884/4
Turn over

, 2
SECTION A

Answer all the questions in this section.

Write your answer for each question in the box provided.

1 What is the impact of a decrease in price?

A An increase in quantity demanded

B An increase in quantity supplied

C A shift to the right of the demand curve

D A shift to the right of the supply curve


Your answer [1]



2 If real GDP in 2019 was $482bn and $476bn in 2020, what was the rate of economic growth
in 2020?

A –1.26%

B –1.24%

C 1.24%

D 1.26%


Your answer [1]




© OCR 2022

, 3
3 The diagram below shows a firm producing Q1 units of output at a price of P1 at a particular point
in time. What is likely to happen next?

Costs /
revenues MC
AC



P1 AR = MR




0 Q1 Output

A New firms enter the market, causing a shift in the average and marginal cost curves

B New firms enter the market, causing a shift in the average and marginal revenue curve

C Some firms leave the market, causing a shift in the average and marginal cost curves

D Some firms leave the market, causing a shift in the average and marginal revenue curve


Your answer [1]



4 What is the relationship between accounting and economic profit?

A Accounting profit will be equal to economic profit

B Accounting profit will be larger than economic profit

C Economic profit will be larger than accounting profit

D There is no relationship between accounting profit and economic profit


Your answer [1]




© OCR 2022 Turn over

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