AQA Economics A Level Paper 1 Resources and Notes

Produced by Tom Furber, an A-Level Economics tutor.

This page features resources for microeconomics for Paper 1, AQA Economics A Level. This includes notes, model answers, practice questions and more.

Contents

Model Answers

• Paper 1 2024 – complete model answers for Section A. [2, 4, 9 and 25 markers on trade unions and student housing].
• Paper 1 2024 – complete model answers for Section B. [15 and 25 markers on imperfect information, behavioural economics, consumer and producer surplus, price discrimination, economies of scale and nationalisation].
• Explain why pollution may represent a market failure. [9 marks]
• Explain possible reasons why firms may experience economies of scale. [15 marks]
• Evaluate the view that businesses should always aim to maximise profits. [25 marks]
• Evaluate possible methods for the government to intervene in markets with negative externalities, such as markets for petrol and diesel cars. [25 marks]
• Evaluate whether price discrimination is beneficial. [25 marks]
• Evaluate the consequences of income inequality. [25 marks]
• Evaluate the view that privatisation of the water industry has been beneficial. [25 marks]
• Sugar taxes: essay structure guide and model answer. [25 marks]

Notes

Please see below notes by topic, according to the AQA Economics A-Level syllabus (work in progress).

Economic methodology and the economic problem

Introduction. This includes:

• 4.1.1.1 Economic methodology
• 4.1.1.2 The nature and purpose of economic activity;
• 4.1.1.3 Economic resources;
• 4.1.1.4 Scarcity, choice and the allocation of resources.

4.1.1.5 Production possibility diagrams

Individual economic decision making

4.1.2.2 Imperfect information

4.1.2.3 Behavioural economic theory

Behavioural economic policies – nudges

Supply, demand and markets

Demand and price elasticity of demand

Supply and price elasticity of supply

4.1.3.6 The interrelationships between markets

Market structures

Monopoly and monopoly power

Oligopoly

Monopolistic competition

Price discrimination

Business objectives

Perfect competition

Labour markets

Labour supply and demand

Minimum wages

Government intervention

Competition policy

Privatisation and nationalisation

Subsidies

Taxes

Miscellaneous

• Sample essay question and mark scheme – in the style of Paper 1 AQA Economics: microeconomics.
• Evaluating for AQA Economics with a microeconomics example.