Exam (elaborations)
AQA A-level ECONOMICS Paper 1 Markets and Market Failure Thursday 18 May 2023
AQA A-level ECONOMICS Paper 1 Markets and Market Failure Thursday 18 May 2023
[Show more]
Content preview
2AQA
A-level
ECONOMICS
Paper 1 Markets and Market Failure
Thursday 18 May 2023
Section A
Answer EITHER Context 1 OR Context 2.
EITHER
Context 1 Total for this context: 40 marks
Electric cars and battery production
Study Extracts A, B and C and then answer all parts of Context 1 which follow.
Extract A
Table 1: Sales of cars by fuel type Figure 1: UK demand for lithium-ion batteries,
in the UK, 2020 and 2021 Gigawatt hours (GWh), 2015 to 2030
2020 2021
Diesel 261 772 135 773
Petrol 903 961 762 103
IB/G/Jun23/7136/1
, 3
Battery
108 205 190 727
Electric
Hybrid
357 126 558 578
Electric*
Total 1 631 064 1 647 181
*Hybrid Electric cars use lithium-ion
batteries and diesel/petrol
Extract B: The electric vehicle revolution
Sales of electric vehicles (EVs) in Europe have jumped from 198 000 in 2018 to an expected
1.17 million in 2021. They are an alternative to petrol and diesel vehicles, which create
damaging emissions through air pollution and contribute to climate change. EVs still only make
up about 1% of all cars on the road, but global sales of EVs are forecast to reach 10.7 million by
2025 and then 28.2 million by 2030. Carmakers have announced a total of $330 billion of 5
investment into electric and battery technology over the next five years. In fact, several
manufacturers have begun to phase out petrol and diesel cars altogether.
Why is this happening now? Regulations are becoming tighter. Ambitious plans to expand the
use of electric vehicles are one of the most obvious ways to meet emissions targets set by
national governments. The UK has already announced plans to ban the sale of petrol and 10
diesel cars by 2035. Meeting this target will require government spending to install the charging
points needed to convince consumers to switch to electric vehicles.
Another reason for the EV revolution is the improved choice of such vehicles. There are around
330 EV models on sale today, compared with just 86 five years ago. While many are still more
expensive than petrol vehicles, they boast substantially lower running costs, even more so as 15
global petrol prices rise. Also, many governments still offer generous financial incentives to
encourage people to purchase EVs.
IB/G/Jun23/7136/1
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 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 teachers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £14.22. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77858 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now
