100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Pearson Edexcel A-Level Economics Advanced Level UNIT 4: Developments in the global economy January 2024 Authentic Marking Scheme Attached £8.16
Add to cart

Exam (elaborations)

Pearson Edexcel A-Level Economics Advanced Level UNIT 4: Developments in the global economy January 2024 Authentic Marking Scheme Attached

 4 views  0 purchase

Pearson Edexcel A-Level Economics Advanced Level UNIT 4: Developments in the global economy January 2024 Authentic Marking Scheme Attached

Preview 4 out of 57  pages

  • April 24, 2024
  • 57
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (241)
avatar-seller
StudyTimeOT
Please check the examination details below before entering your candidate information
Candidate surname Other names


Centre Number Candidate Number




Pearson Edexcel International Advanced Level
Tuesday 9 January 2024
Afternoon (Time: 1 hour 45 minutes) Paper
reference WEC11/01
Economics  


International Advanced Subsidiary
UNIT 1: Markets in action

You must have: Total Marks
Source Booklet (enclosed)



Instructions
•• Use black ink or ball-point pen.
Fill in the boxes at the top of this page with your name,
centre number and candidate number.
•• Answer ALL questions in Sections A, B and C.
Answer ONE question in Section D.
• Answer the questions in the spaces provided
– there may be more space than you need.

Information
•• The total mark for this paper is 80.
The marks for each question are shown in brackets
– use this as a guide as to how much time to spend on each question.
• Calculators may be used.
Advice
•• Read each question carefully before you start to answer it.
Check your answers if you have time at the end.




Turn over


P73482A
©2024 Pearson Education Ltd.
S:1/1/1/1/1
*P73482A0128*

, SECTION A
Answer ALL questions in this section.




DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
Questions must be answered with a cross in a box . If you change your mind about an answer,
put a line through the box and then mark your new answer with a cross .
1 Which one of the following is a characteristic of symmetric information?
A Buyers have more information than sellers

B Sellers have more information than buyers

C Buyers and sellers have the same level of information

D Buyers and sellers experience market failure
(Total for Question 1 = 1 mark)

2 70 million citizens in Bangladesh live in areas where there is a risk of flooding.
The Government of Bangladesh plans to spend $400 billion to build 600 kilometres of
sea defences.
Sea defences are an example of which one of the following?

A Consumer goods

B Free goods

C Private goods

D Public goods
(Total for Question 2 = 1 mark)

3 The cross elasticity of demand for Pepsi Cola with respect to a change in the price of
Coca-Cola is estimated to be +0.62 in North America.
Which one of the following can be deduced from this information?

A Pepsi Cola and Coca-Cola are complements

B Pepsi Cola and Coca-Cola are substitutes

C Pepsi Cola and Coca-Cola are unrelated goods

D Pepsi Cola and Coca-Cola are normal goods
(Total for Question 3 = 1 mark)




2
*P73482A0228* 

, 4 The diagram represents the market for wheat in India. The Government of India
operates a minimum price scheme for wheat. It agrees to buy any surpluses from
farmers at the minimum price of 0E.
DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA




Price of wheat F Supply
per kg




G H Pmin
E

I




Demand
0 J K
Quantity of wheat, kg

Which one of the following can be deduced from this information?

A The Government will spend GHKJ

B The Government will spend EFG

C The Government will spend GHI

D The Government will spend EHK0
(Total for Question 4 = 1 mark)




3
 *P73482A0328* Turn over

, 5 The chart shows the sources of electricity generation for Brazil in 2021.

Other renewables




DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA DO NOT WRITE IN THIS AREA
11%
Solar
2%
Oil
3%
Coal
4%



Wind
11% Hydropower
55%




Gas
14%

Which one of the following can be deduced from the chart?

A Electricity is mostly generated from non-renewable resources

B Electricity is mostly generated from renewable resources

C 21% of electricity is generated using renewable resources

D 79% of electricity is generated using non-renewable resources
(Total for Question 5 = 1 mark)




4



*P73482A0428* 

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

Quick and easy check-out

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

Focus on what matters

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 £8.16. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52510 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

Start selling
£8.16
  • (0)
Add to cart
Added