EXAM PREP
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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
Friday 7 June 2024 Morning Time allowed: 2 hours
Materials
For Examiner’s Use
For this paper you must have:
• the Insert Section Mark
• a calculator.
A
Instructions B
• Answer all questions. TOTAL
• 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.
*JUN247136301*
IB/G/Jun24/G4001/E9 7136/3
, 2
Do not write
outside the
Section A box
Answer all questions in this section.
Only one answer per question is allowed. tyrionpapers.com
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 Which one of the following is a consequence of the basic economic problem of limited
resources and unlimited wants?
[1 mark]
A All goods and services will have a market price
B Employment of factors of production has an opportunity cost
C Markets are unable to allocate resources efficiently
D There will not be an excess supply in markets
0 2 A profit-maximising firm, in the service sector, needs to recruit a new employee. Which
one of the following explains why asymmetric information could mean that the most
suitable person is not chosen?
[1 mark]
A It is difficult to calculate the marginal revenue productivity of workers in the
service sector
B Occupational immobility of labour means that there is a limited supply of
workers with the right skill set
C The firm may have to recruit the worker from the local area because labour
is often geographically immobile
D The firm is unlikely to know everything about job applicant’s skills, abilities
and motivation
*02*
IB/G/Jun24/7136/3
Turn over
, tyrionpapers.com
Scroll below to see the sample of the paper
O2ered to you by Tyrion Papers
https://tyrionpapers.com
If you have any issues or queries, do reach out to
I’ll help you out for sure
We have locked papers, Predicted Papers, Topic tests, Notes,
question banks and so much more
, tyrionpapers.com
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
Friday 7 June 2024 Morning Time allowed: 2 hours
Materials
For Examiner’s Use
For this paper you must have:
• the Insert Section Mark
• a calculator.
A
Instructions B
• Answer all questions. TOTAL
• 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.
*JUN247136301*
IB/G/Jun24/G4001/E9 7136/3
, 2
Do not write
outside the
Section A box
Answer all questions in this section.
Only one answer per question is allowed. tyrionpapers.com
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 Which one of the following is a consequence of the basic economic problem of limited
resources and unlimited wants?
[1 mark]
A All goods and services will have a market price
B Employment of factors of production has an opportunity cost
C Markets are unable to allocate resources efficiently
D There will not be an excess supply in markets
0 2 A profit-maximising firm, in the service sector, needs to recruit a new employee. Which
one of the following explains why asymmetric information could mean that the most
suitable person is not chosen?
[1 mark]
A It is difficult to calculate the marginal revenue productivity of workers in the
service sector
B Occupational immobility of labour means that there is a limited supply of
workers with the right skill set
C The firm may have to recruit the worker from the local area because labour
is often geographically immobile
D The firm is unlikely to know everything about job applicant’s skills, abilities
and motivation
*02*
IB/G/Jun24/7136/3
