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OCR GCE AS LEVEL ECONOMICS PAPER 1 QUESTION PAPER 2023 (H060/01: Microeconomics)
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OCR GCE AS LEVEL ECONOMICS PAPER 1 QUESTION PAPER 2023 (H060/01: Microeconomics). DOWNLOAD OFFICIAL AND VERIFIED OCR AS LEVEL ECONOMICS PAPER 1 QUESTION PAPER 2...
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OCR GCE AS LEVEL ECONOMICS PAPER 1 QUESTION PAPER 2023 (H060/01: Microeconomics). DOWNLOAD OFFICIAL AND VERIFIED OCR AS LEVEL ECONOMICS PAPER 1 QUESTION PAPER 2023 ON www.leakedexams.com.


1 Which of these contains all the four factors of production?
 A Capital, enterprise, labour, land
 B Capital, labour, profit, rent
 C Enterprise, interest, land, wages
 D Interest, profit, rent, wages
 Your answer [1]
2 What is the income elasticity of demand if a 10% increase in consumer income leads to a 40%
decrease in quantity demanded?
 A –4.00
 B –0.25
 C 0.25
 D 4.00
 Your answer [1]
3 Which of these is an example of a normative statement?
 A Taxes on cigarettes provide the government with tax revenue
 B The government should raise taxes even higher on cigarettes
 C The tax on cigarettes accounts for 80% of the price of cigarettes
 D VAT is one of the taxes charged on cigarettes
 Your answer [1]
4 Opportunity cost is defined as the value of:
 A all alternative goods foregone
 B the cost of other goods and services
 C the cost imposed on a third party
 D the next best alternative foregone
 Your answer [1]


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Author OCR KING
Published 30 Jul 2024
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H060 H060/01 OCR GCE AS LEVEL ECONOMICS PAPER 1 QUESTION PAPER 2023 OCR AS LEVEL ECONOMICS PAPER 1 OCR ECONOMICS PAPER 1 2023 ECONOMICS PAPER 1 OCR OCR ECONOMICS 2023 OCR AS LEVEL ECONOMICS PAPER 1 2023 AS LEVEL ECONOMICS 2023 ECONOMICS
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