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AS & A Level · AS/A Level

Economics

Markets and policy evaluation

Name: ____________________Date: October 10, 2026
  1. 1.

    Price rises by 10% and quantity demanded falls by 5%. Using percentage-change PED, calculate price elasticity of demand and predict the direction of total revenue change.

    [3 marks] · no calculator
  2. 2.

    Demand for a good is much less price elastic than supply. Explain why consumers may bear most of a specific tax and how the tax can affect traded quantity.

    [4 marks] · no calculator
  3. 3.

    Inflation is driven mainly by imported energy costs while output is weak. Evaluate raising interest rates as the only policy response. Reach a conditional judgement.

    [5 marks] · no calculator

Original, unofficial practice questions from SubjectScout — not official past-paper questions.

Marking points are indicative, not an official mark scheme. Accept equivalent valid methods and supported interpretations that address the task; award each mark once without requiring the model wording.