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Paper 1 HL Mock 15

This document is a mock exam paper for the Economics Higher Level Paper 1, consisting of two sections: Microeconomics and Macroeconomics. Candidates are instructed to answer one question from each section, with a total of 50 marks available. The exam includes topics such as elasticity, subsidies, price discrimination, consumer price index, and policies for controlling inflation.

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meena malik
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43 views4 pages

Paper 1 HL Mock 15

This document is a mock exam paper for the Economics Higher Level Paper 1, consisting of two sections: Microeconomics and Macroeconomics. Candidates are instructed to answer one question from each section, with a total of 50 marks available. The exam includes topics such as elasticity, subsidies, price discrimination, consumer price index, and policies for controlling inflation.

Uploaded by

meena malik
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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M15​

/1/ECONO/HP1/ENG/TZ2/XX

ECONOMICS
HIGHER LEVEL
PAPER 1

Mock Exam 2015

1 hour 30 minutes

___________________________________________________________________________

INSTRUCTIONS TO CANDIDATES

● Do not open this examination paper until instructed to do so.


● You are not permitted access to any calculator for this paper.
● Section A: answer one question.
● Section B: answer one question.
● Use fully labelled diagrams and references to examples where appropriate.
● The maximum marks for this paper is ​ [50 marks]

3 pages
© International Diploma Organization 2015
­2­ M15​
/3/ECONO/HP1/ENG/TZ2/XX

SECTION A

Answer ​
one ​
question from this section

Microeconomics

1. (a) Explain, with reference to elasticity, how effectively a subsidy


could be used to promote the use of renewable energy (solar
and wind power). ​
[10 marks]

(b) Compare and contrast the policies of taxation on carbon fuel


with subsidy on renewable energy a policy to correct the market
failure of increasing carbon emissions in the atmosphere. ​
[15 marks]

2. (a) Explain why and how an airline company may sell tickets for the
same flight at different prices to different costumers. ​
[10 marks]

(b) “Price discrimination only benefits the producers in an oligopoly


market” Evaluate this view with reference to the conditions
necessary for price discrimination. ​
[15 marks]
­3­ M15​
/1/ECONO/HP1/ENG/TZ2/XX

SECTION B

Answer ​
one ​
question from this section

Macroeconomics

3. (a) Describe how the consumer price index is used to measure the level
of inflation. ​
[10 marks]

(b) Evaluate the effectiveness of supply­side policies may be used as a


method of controlling inflation. ​
[15 marks]

4. (a) Explain how the central bank of a country can influence the level
of aggregate demand in a macro­economy by controlling the
money supply. ​
[10 marks]

(b) Analyse the effectiveness of demand­side policies as methods


of promoting economic growth. ​
[15 marks]

________________________________________________________________________

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