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ECONOMICS OCR H460-03 QP Oct21
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ECONOMICS OCR H460-03 QP Oct21
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Oxford Cambridge and RSAThursday 14 October 2021 – Afternoon
A Level Economics
H460/03 Themes in economics
Time allowed: 2 hours
You can use:
* 9 0 6 3 6 8 0 3 3 9 *
• a scientific or graphical calculator
* H 4 6 0 0 3 *
Please write clearly in black ink. Do not write in the barcodes.
Centre number Candidate number
First name(s)
Last name
INSTRUCTIONS
• Use black ink. You can use an HB pencil, but only for graphs and diagrams.
• Write your answer to each question in the space provided. If you need extra space use
the lined pages at the end of this booklet. The question numbers must be clearly shown.
• Answer all the questions.
INFORMATION
• The total mark for this paper is 80.
• The marks for each question are shown in brackets [ ].
• Quality of extended response will be assessed in questions marked with an asterisk (*).
• This document has 28 pages.
ADVICE
• Read each question carefully before you start your answer.
© OCR 2021 [601/4799/4] OCR is an exempt Charity
DC (CE/SG) 300719/3 Turn over
, 2
SECTION A
Answer all the questions in this section.
Write your answer for each question in the box provided.
1 What is a characteristic of positive economic statements?
A They are subjective opinions
B They can be proven true or false
C They explain correctly what is happening in an economy
D They explain the best outcome from a choice that can be made
Your answer [1]
2 Which of the industries below operates in the tertiary sector?
A Construction
B Fishing
C Leisure
D Manufacturing
Your answer [1]
© OCR 2021
, 3
3 What does point X on the diagram below represent?
Costs
LRAC
X
0 Output
A Constant returns to scale
B Diseconomies of scale
C Economies of scale
D Minimum efficient scale
Your answer [1]
4 In 2020 Sony announced the launch of the PlayStation 5 games console. It was estimated that
at a price of £500 Sony would sell 87 million consoles. Analysts suggested these sales would
increase to 122 million if the price was reduced to £400. What is the price elasticity of demand?
A –2.01
B –1.61
C –0.50
D 0.71
Your answer [1]
© OCR 2021 Turn over
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