Exam (elaborations)

PEARSON EDEXCEL GCE A-LEVEL ECONOMICS 6EC03/01 ADVANCED UNIT 3 BUSINESS ECONOMICS AND ECONOMIC EFFICIENCY JUNE 2024 EXAM (AUTHENTIC MARKIN SCHEME ATTACHED) Turn over P43306A P43306A0132 ©2014 Pearson Education Ltd.

12 views 0 purchase

Course
ECONOMICS

Institution
PEARSON (PEARSON)

PEARSON EDEXCEL GCE A-LEVEL ECONOMICS 6EC03/01 ADVANCED UNIT 3 BUSINESS ECONOMICS AND ECONOMIC EFFICIENCY JUNE 2024 EXAM (AUTHENTIC MARKIN SCHEME ATTACHED) Turn over P43306A *P43306A0132* ©2014 Pearson Education Ltd.

[Show more]

Preview 4 out of 55 pages

View example

Uploaded on March 7, 2024
Number of pages 55
Written in 2023/2024
Type Exam (elaborations)
Contains Questions & answers

a level
a level economics
pearson edexcel
business economics and economic efficiency

Study Level
A/AS Level
Examinator
PEARSON (PEARSON)
Subject
ECONOMICS
Unit
ECONOMICS

StudyTimeOT

Member since 8 months 4 documents sold

$9.37

Added

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

Write your name here
Surname Other names

Candidate Number
Pearson Centre Number

Edexcel GCE
Economics
Advanced
Unit 3: Business Economics and Economic
Efficiency
Tuesday 3 June 2014 – Morning Paper Reference

Time: 1 hour 30 minutes 6EC03/01
You do not need any other materials. Total Marks

PEARSON EDEXCEL GCE A-LEVEL ECONOMICS 6EC03/01
ADVANCED UNIT 3 BUSINESS ECONOMICS AND
ECONOMIC EFFICIENCY JUNE 2024 EXAM

(AUTHENTIC MARKIN SCHEME ATTACHED)

Turn over

P43306A *P43306A0132*
©2014 Pearson Education Ltd.
1/1/1/1/1

, Section A: Answer ALL the questions in this section.

You should spend 35 minutes on this section. Use the data to support your
answers where relevant. You may annotate and include diagrams in your
answers.
1 Dairy Crest Group is a British food producer which uses a large amount of milk
in its production processes to make dairy products. In March 2013, Dairy Crest
Group bought Proper Welsh Milk, a firm which specialises in selling fresh milk.
This takeover could lead to advantages of
(1)
A horizontal integration

B backward vertical integration

C forward vertical integration

D conglomerate integration

E external economies of

scale Answer Explanation

(3)

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

(Total for Question 1 = 4 marks)

,2
*P43306A0232*

, 2 A cherry grower finds it impossible to influence the market price of her produce.
Which of the following conditions would most clearly indicate that she operates
in a perfectly competitive market?
(1)
A She produces at an output at which marginal cost is less than marginal revenue

B Marginal cost is equal to total cost at every level of output

C Marginal cost is equal to average cost at every level of output

D She produces at the same output in the short run as in the long run

E Average revenue equals marginal revenue at every level of

output Answer
Explanation
(3)

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

....................................................................................................................................................................................................................................................................................

(Total for Question 2 = 4 marks)
3
*P43306A0332* Turn over

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller StudyTimeOT. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.37. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

81989 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Popular Universities in the United States

Popular books

Find notes and summaries for these qualifications

Exam (elaborations)

PEARSON EDEXCEL GCE A-LEVEL ECONOMICS 6EC03/01 ADVANCED UNIT 3 BUSINESS ECONOMICS AND ECONOMIC EFFICIENCY JUNE 2024 EXAM (AUTHENTIC MARKIN SCHEME ATTACHED) Turn over P43306A P43306A0132 ©2014 Pearson Education Ltd.

Document information

Subjects

Written for

Seller

Reviews received

Content preview