: Pearson Edexcel past-paper questions pack

Free market, mixed and command economies

Past-paper questions pack

Name
Class
Date set
Date due
Score	/ 101

Questions are numbered; the mark schemes (the answer key) follow on separate pages so the question pages can be handed out alone. www.economicsaleveltutor.com

Pearson Edexcel AS and A-level Economics past-paper questions since 2016 · 15 parts · mark schemes follow the questions · www.economicsaleveltutor.com · Questions and mark schemes © Pearson Edexcel

1. June 2025 · AS Paper 1 · Q3(a) · 1 marks · AO1=1

(a) The economy of Singapore is a highly developed free market economy with some elements of government intervention. Define the term ‘free market’. (1)

2. June 2024 · AS Paper 1 · Q3(a) · 1 marks · AO1=1

(a) Which one of the following statements about a free market economy is true? (1) A It was supported by Karl Marx B The price mechanism allocates all resources C There are no externalities D The state owns all the resources

3. June 2023 · Paper 1 · Q1(a) · 4 marks · AO1=2,AO2=1,AO3=1

(a) With reference to the information provided, explain one advantage of a free market economy. (4)

4. June 2023 · Paper 1 · Q1(b) · 1 marks · AO1=1

(b) Which one of the following economic thinkers supported the idea of a command economy? (1) A Adam Smith B Friedrich Hayek C John Maynard Keynes D Karl Marx

5. June 2023 · AS Paper 1 · Q5(a) · 2 marks · AO1=1,AO2=1

(a) With reference to the above information, define the term ‘mixed economy’. (2)

6. June 2023 · AS Paper 1 · Q5(c) · 1 marks ·

Capital goods W 0 Consumer goods (c) Which one of the following is a likely advantage of a command economy? (1) A Low levels of unemployment B Price acts as a signal to allocate resources C Price controls cause shortages of goods D The profit motive gives firms the incentive to be more efficient

7. June 2023 · AS Paper 1 · Q6(g) · 20 marks · AO1=4,AO2=4,AO3=6,AO4=6

(g) Evaluate the possible disadvantages of a free market approach to the provision of television content. (20)

8. June 2022 · AS Paper 1 · Q6(c) · 6 marks · AO1=2,AO2=2,AO3=2

(c) With reference to the information provided and your own knowledge, explain two characteristics of private ownership in a free market economy. (6)

9. October 2020 · AS Paper 1 · Q1(a) · 1 marks · AO1=1

(a) Define the term ‘free market economy’. (1)

10. October 2020 · AS Paper 1 · Q1(c) · 2 marks · AO1=2

(c) Explain one advantage of a free market economy compared to a command economy. (2)

11. October 2020 · AS Paper 1 · Q6(f) · 20 marks · AO1=4,AO2=4,AO3=6,AO4=6

(f) Evaluate the possible advantages of a free market approach to providing services such as education. (20)

12. June 2019 · Paper 1 · Q5(b) · 1 marks · AO1=1

(b) Which one of the following statements is true? (1) A Friedrich Hayek believed that the government should subsidise inefficient firms B Friedrich Hayek was a key advocate of command economies as a way of allocating resources C Karl Marx advocated allocating resources via the free market D Karl Marx criticised the private ownership of factors of production

13. June 2019 · AS Paper 1 · Q6(g) · 20 marks · AO1=4,AO2=4,AO3=6,AO4=6

(g) Evaluate the possible disadvantages of a free market approach to providing health care. (20)

14. June 2018 · AS Paper 1 · Q1(c) · 1 marks · AO1=1

(c) Define the term ‘command economy’. (1)

15. June 2017 · AS Paper 1 · Q6(f) · 20 marks · AO1=4,AO2=4,AO3=6,AO4=6

(f) Evaluate the possible advantages of a free market approach to cigarette consumption. (20)

Mark schemes

1. June 2025 · AS Paper 1 · Q3(a)

Mark scheme June 2025 Paper 1 Q3(a)

2. June 2024 · AS Paper 1 · Q3(a)

Mark scheme June 2024 Paper 1 Q3(a)

3. June 2023 · Paper 1 · Q1(a)

Mark scheme June 2023 Paper 1 Q1(a)

4. June 2023 · Paper 1 · Q1(b)

Mark scheme June 2023 Paper 1 Q1(b)

5. June 2023 · AS Paper 1 · Q5(a)

Mark scheme June 2023 Paper 1 Q5(a)

6. June 2023 · AS Paper 1 · Q5(c)

Mark scheme June 2023 Paper 1 Q5(c)

7. June 2023 · AS Paper 1 · Q6(g)

Mark scheme June 2023 Paper 1 Q6(g)

8. June 2022 · AS Paper 1 · Q6(c)

Mark scheme June 2022 Paper 1 Q6(c)

9. October 2020 · AS Paper 1 · Q1(a)

Mark scheme October 2020 Paper 1 Q1(a)

10. October 2020 · AS Paper 1 · Q1(c)

Mark scheme October 2020 Paper 1 Q1(c)

11. October 2020 · AS Paper 1 · Q6(f)

Mark scheme October 2020 Paper 1 Q6(f)

12. June 2019 · Paper 1 · Q5(b)

Mark scheme June 2019 Paper 1 Q5(b)

13. June 2019 · AS Paper 1 · Q6(g)

Mark scheme June 2019 Paper 1 Q6(g)

14. June 2018 · AS Paper 1 · Q1(c)

Mark scheme June 2018 Paper 1 Q1(c)

15. June 2017 · AS Paper 1 · Q6(f)

Mark scheme June 2017 Paper 1 Q6(f)