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OCR AS Level EconomicsH060/01 Microeconomics MERGED QUESTION PAPER AND MARK SCHEME FOR MAY 2024
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OCR AS Level EconomicsH060/01 Microeconomics MERGED QUESTION PAPER AND MARK SCHEME FOR MAY 2024
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Monday 13 May 2024 – MorningAS Level Economics
H060/01 Microeconomics
Time allowed: 1 hour 30 minutes
Turn over
, 2
SECTION A
Write your answer to each question in the box provided.
1 Which is a positive externality of a new factory being built in a town?
A Air pollution
B Employment
C Noise
D Traffic congestion
Your answer [1]
2 The diagram shows the production possibility curve for a country that produces computers and
cars.
Quantity of
computers
produced
3000
Y
2000
X
1500
0 600 800 1000
Quantity of cars produced
The economy is currently producing at point X.
What would be the opportunity cost of moving to point Y?
A 200 cars
B 600 cars
C 500 computers
D 2000 computers
Your answer [1]
© OCR 2024
, 3
3 Which of these is an example of a normative statement?
A More people will use solar energy
B Solar energy will be the only type of energy available
C Solar energy is a natural source of energy
D The UK government must subsidise solar energy
Your answer [1]
4 Which of these is not an example of a composite demand good?
A Chair
B Milk
C Oil
D Wood
Your answer [1]
5 The diagram shows the demand and supply of oil.
The market is initially in equilibrium at E.
P S2
S
E1
P2
P1
E
D2
D
Q1 Q
What would be the most likely cause of the market equilibrium moving to E1?
A Decrease of costs of oil production and decrease in air travel
B Decrease of costs of oil production and increase in air travel
C Increase of costs of oil production and decrease in air travel
D Increase of costs of oil production and increase in air travel
Your answer [1]
© OCR 2024 Turn over
, 4
6 Which of these is not an economic agent?
A Countries
B Firms
C Governments
D Households
Your answer [1]
7 The table shows the quantity demanded and quantity supplied of a product at different prices.
Price Quantity Quantity
(£) Demanded Supplied
10 90 5
20 80 15
30 60 25
40 35 35
50 20 50
What is the state of the market for this product at a price of £30?
A Excess demand of 35 units
B Excess demand of 60 units
C Excess supply of 25 units
D Excess supply of 85 units
Your answer [1]
8 Which is not a reward for a factor of production?
A payment by a tenant of a house to its owner
B return received by a person on their savings account
C revenue received by a firm from its total sales
D total income earned by a self-employed person
Your answer [1]
9 The best description of a free good is
A Consumers do not have to pay for the good
B Scarce resources are not used in the production of the good
C The production of the good is fully subsidised
D The government provides the good to all consumers
Your answer [1]
© OCR 2024
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