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AQA 2023 MS * AS ECONOMICS 7135/1 Paper 1
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AQA AS ECONOMICS 7135/1 Paper 1 MS June 2023 Version: 1.0Final
AS
ECONOMICS
7135/1
Paper 1 The Operation of Markets and Market Failure
Mark scheme
June 2023
Version: 1.0 Final
*236A7135/1/MS*
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2023
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that every associate understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts. Alternative
answers not already covered by the mark scheme are discussed and legislated for. If, after the
standardisation process, associates encounter unusual answers which have not been raised they are
required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further developed and
expanded on the basis of students’ reactions to a particular paper. Assumptions about future mark
schemes on the basis of one year’s document should be avoided; whilst the guiding principles of
assessment remain constant, details will change, depending on the content of a particular examination
paper.
Further copies of this mark scheme are available from aqa.org.uk
Copyright information
AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet for their own
internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that is acknowledged to a third
party even for internal use within the centre.
Copyright © 2023 AQA and its licensors. All rights reserved.
2
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE 2023
SECTION A
The following list indicates the correct answers used
in marking the students’ responses.
KEY LIST
D
A (Higher profits providing an incentive to
1 (Alternative uses for resources) 11
increase output)
B
A
(monopoly power of Fresh Co
2 (–0.4) 12
increases.)
B
(The social optimum output is greater
B
than the free market output because the
3 (G) 13
private benefit is less than the social
benefit.)
C
A
(opportunities for internal
4 14 (A reduction in labour costs)
economies of scale.)
D
D
(Demand is price inelastic and supply is
5 (involved a normative judgement.) 15
price inelastic.)
C B
(the mean income may be higher (Production of healthcare addresses the
6 or lower in country Z compared 16 basic economic questions of ‘how’ and
with country W.) ‘for whom’)
B D
7 (Advertising to establish a brand) 17 (A subsidy of P2 minus P3 per unit)
D B
8 (2.5) 18 (are an inferior good.)
B C
9 (£290) 19 (Point H.)
C C
(consumed together with another (The extent to which firms differentiate
10 20
good.) their products)
Totals
A3
B7
C5
D5
3
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