AQA AS ECONOMICS 7135/1 Paper 1 The Operation of Markets and Market Failure Mark scheme June 2024
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Module
AS ECONOMICS 7135/1
Institution
AS ECONOMICS 7135/1
AS
ECONOMICS
7135/1
Paper 1 The Operation of Markets and Market Failure
Mark scheme
June 2024
Version: 1.0 Final
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the standardisation events ...
AS
ECONOMICS
7135/1
Paper 1 The Operation of Markets and Market Failure
Mark scheme
June 2024
Version: 1.0 Final
1
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE
2024
questions, by a panel of subject teachers. This mark scheme includes any amendments
made at the standardisation events which all associates participate in and is the scheme
which was used by them in this examination. The standardisation process ensures that the
mark scheme covers the students’ responses to questions and that every associate
understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts.
Alternative answers not already covered by the mark scheme are discussed and legislated
for. If, after the standardisation process, associates encounter unusual answers which have
not been raised they are required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further
developed and expanded on the basis of students’ reactions to a particular paper.
Assumptions about future mark schemes on the basis of one year’s document should be
avoided; whilst the guiding principles of assessment remain constant, details will change,
depending on the content of a particular examination paper.
No student should be disadvantaged on the basis of their gender identity and/or how they
refer to the gender identity of others in their exam responses.
A consistent use of ‘they/them’ as a singular and pronouns beyond ‘she/her’ or ‘he/him’ will
be credited in exam responses in line with existing mark scheme criteria.
Further copies of this mark scheme are available from aqa.org.uk
2
, MARK SCHEME – AS ECONOMICS – 7135/1 – JUNE
2024
SECTION A
The following list indicates the correct
answers used in marking the students’
responses.
KEY LIST
C B
(Incentivising firms to produce (it affects an individual’s ability to
1 11
the goods consumers want) consume goods and services.)
C A
2 (is now too high.) 12 (The clothes)
D D
3 (An increase in the price of 13 (Pedestrianisation)
paper)
D D
(there is immobility of factors (an increase in the price paid by
4 14
of production.) consumers for electric scooters.)
C C
5 (2.5) 15 (rise by 10%.)
A
A
(charge the same price as
6 16 (external economies of scale.)
other firms.)
A A
(maximise the difference (Output per hour of labour was
7 17
between its total revenue and higher in 2017 than in 2021)
total cost.)
C
B
(a rise in the price of barley
(the demand for a good depends
8 and a movement along the 18
on the sales of what it produces.)
supply curve to the right.)
A D
9 (The extent to which barriers 19 (price inelastic and total revenue
to entry exist) will rise.)
B D
(The revenue received by (The costs of many businesses will
10 20
farmers will increase by 30p increase.)
per pint)
Totals
A6
B3
C5
D6
3
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