Edexcel A Level Economics A Paper 3: Microeconomics and macroeconomics June 2024 question paper 9EC0/03

With reference to Figure 1 and Extract A, explain what is meant by ‘price inelastic demand’ (line 8).

Examine one likely externality that arises when a producer generates electricity by burning gas. Use a diagram to show the external costs of production.

With reference to Figure 2 and Extract B, discuss the possible constraints on business growth for firms supplying energy to households in the UK.

EITHER

Evaluate the microeconomic and macroeconomic factors that explain gender-based wage differences in the UK oil and gas industry.

Evaluate the microeconomic and macroeconomic advantages for a country specialising in energy production using gas.

Write your answer here:

Explain one reason why a country might operate a managed exchange rate. Refer to Extract D in your answer.

With reference to the second paragraph of Extract E, examine two likely problems for the expansion of the chocolate industry in Ghana.

Discuss factors influencing the level of aggregate demand in Ghana. Use an aggregate demand and aggregate supply diagram in your answer.

EITHER

Evaluate the microeconomic and macroeconomic effects of high interest rates in Ghana, or another developing country of your choice.

Evaluate the microeconomic and macroeconomic effects of Ghana joining the African Continental Free Trade Agreement (Extract F).

Write your answer here: