Ocr a level economics - Study guides, Revision notes & Summaries

This is the official question paper

This is the final mark scheme

OCR A LEVEL Economics H460/01 JUNE 2022 FINAL MARKSCHEME – Microeconomics. OCR (Oxford Cambridge and RSA) is a leading UK awarding body, providing a wide range of qualifications to meet the needs of candidates of all ages and abilities. OCR qualifications include AS/A Levels, Diplomas, GCSEs, Cambridge Nationals, Cambridge Technicals, Functional Skills, Key Skills, Entry Level qualifications, NVQs and vocational qualifications in areas such as IT, business, languages, teaching/training, a...

normative statement an opinion that cannot be confirmed by referencing facts positive statement a statement that can be proved by referencing facts why are economic models used? theories cannot be tested in a controlled environment the basic economic problem scarcity - consumer wants are always greater than available resources opportunity cost the next best alternative foregone factors of production resources used by a firm in production list and define the factors of production lab...

OCR A Level Economics With Complete Solutions Latest Update

normative statement correct answers an opinion that cannot be confirmed by referencing facts positive statement correct answers a statement that can be proved by referencing facts why are economic models used? correct answers theories cannot be tested in a controlled environment the basic economic problem correct answers scarcity - consumer wants are always greater than available resources opportunity cost correct answers the next best alternative foregone factors of production co...