AQA A-level ECONOMICS 7136/3 Paper 3 Economic Principles and Issues Mark scheme June 2024
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Module
A-level ECONOMICS Paper 3
Institution
A-level ECONOMICS Paper 3
A-level
ECONOMICS
7136/3
Paper 3 Economic Principles and Issues
Mark scheme
June 2024
Version: 1.0 Final
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant questions, by a panel of subj...
A-level
ECONOMICS
7136/3
Paper 3 Economic Principles and Issues
Mark scheme
June 2024
Version: 1.0 Final
, MARK SCHEME – A-LEVEL ECONOMICS – 7136/3 – JUNE
2024
Mark schemes are prepared by the Lead Assessment Writer and considered, together with
the relevant 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 – A-LEVEL ECONOMICS – 7136/3 – JUNE
2024
SECTION A
KEY LIST
B A C
(Employment of factors of
1 11 21
production has an (shift left and become
(4)
opportunity cost) flatter.)
D A D
(The firm is unlikely to (An increase in the price of
2 12 (A firm's revenue would fall 22
know everything about job the industry's product
applicants' skills, abilities with any change in caused by changing tastes)
and motivation) price)
C B B
(Productive efficiency in the (A reduction in the
3 13 (£0) 23
car industry is geographical mobility
unchanged) of labour)
C B D
(Spending on Good X will fall (government failure (Liquidity worsens and
4 14 24
by 2% and spending on due to unintended profitability improves)
Good Y will increase by 4%) consequences.)
C C D
(Indirect taxes made (Imports from other
5 15 25
the distribution of (Store of value) member countries will
income more increase)
unequal)
C C C
(A surplus will lead to
6 (–£8.5bn) 16 26 excess demand for the
(2022)
country's currency and
an appreciating
exchange rate)
C C D
(Tax F is a regressive tax (The rate of growth in the
7 17 27
and Tax G is a country's exports of copper
(Investment)
proportional tax) was higher in 2021 than in
2022)
D B C
(Marginal utility from (Increasing marginal (2022)
8 18 28
consuming the 3rd banana is returns to labour)
less than the 2nd)
A D C
(An increase in real (Sustained rises in
9 19 29
national income and a nominal national income in (Privatising key industries)
reduction in the future years)
balance of payments
deficit)
D C C
10 (joint supply) 20 (marginal cost equals 30 (8 000)
average total
cost.)
3
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