Learn Extracted exam questions A-Level Economics 9708 Economics November 2025 Question Paper 22
9708 Economics November 2025 Question Paper 22
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1 How do we make sure cocoa bean farmers get paid a living wage? Chocolate is very big business. Perhaps the long-term solution is to reduce the country’s dependence on cocoa bean exports and diversify into other products that can offer more and better paid job opportunities. Source: Adapted from Reuters, 4 April 2023 Content removed due to copyright restrictions. (a) (i) Identify one possible reason for the value of price elasticity of demand (PED) for chocolate. [1] (ii) Calculate the percentage change in the value of global sales of chocolate between 2017 and 2026, as shown in Table 1.1. [1] (b) With the help of a demand and supply diagram, demonstrate why cocoa bean prices continued to fall in 2023. [2] (c) Consider whether a buffer stock system controlled by the government of Ivory Coast would be likely to prevent fluctuations in the price of cocoa beans. [4] (d) Assess the extent to which the use of a minimum pricing policy would be the best way to ensure cocoa bean farmers get paid a living wage. [6] (e) Assess the advantages and disadvantages of Ivory Coast continuing to specialise in the production and export of cocoa beans. [6] Section B Answer one question. EITHER
(a) (i) Identify one possible reason for the value of price elasticity of demand (PED) for chocolate. [1]
(ii) Calculate the percentage change in the value of global sales of chocolate between 2017 and 2026, as shown in Table 1.1. [1]
(b) With the help of a demand and supply diagram, demonstrate why cocoa bean prices continued to fall in 2023. [2]
(c) Consider whether a buffer stock system controlled by the government of Ivory Coast would be likely to prevent fluctuations in the price of cocoa beans. [4]
(d) Assess the extent to which the use of a minimum pricing policy would be the best way to ensure cocoa bean farmers get paid a living wage. [6]
(e) Assess the advantages and disadvantages of Ivory Coast continuing to specialise in the production and export of cocoa beans. [6]
2 (a) With the help of a diagram, explain the difference between producer surplus and consumer surplus and consider the extent to which producers always gain when the price of a product increases due to higher costs of production. [8] (b) Assess the view that a business should be more concerned about the income elasticity of demand for its product than its cross elasticity of demand when incomes are falling. [12] OR
(a) With the help of a diagram, explain the difference between producer surplus and consumer surplus and consider the extent to which producers always gain when the price of a product increases due to higher costs of production. [8]
(b) Assess the view that a business should be more concerned about the income elasticity of demand for its product than its cross elasticity of demand when incomes are falling. [12]
3 (a) With the help of a diagram, explain the difference between a movement along a production possibility curve (PPC) and a shift of this curve and consider whether a decision to produce more of one product will always incur an equal opportunity cost. [8] (b) Assess the extent to which it is always necessary to increase the size of the labour factor of production in order to cause an outward shift of the production possibility curve. [12] Section C Answer one question. EITHER
(a) With the help of a diagram, explain the difference between a movement along a production possibility curve (PPC) and a shift of this curve and consider whether a decision to produce more of one product will always incur an equal opportunity cost. [8]
(b) Assess the extent to which it is always necessary to increase the size of the labour factor of production in order to cause an outward shift of the production possibility curve. [12]
4 (a) Explain three components of the current account of the balance of payments and consider the extent to which a depreciation in the exchange rate will always lead to a surplus on the current account. [8] (b) Assess the extent to which the use of supply-side policy would be the best way to reduce a deficit on the current account of the balance of payments. [12] OR
(a) Explain three components of the current account of the balance of payments and consider the extent to which a depreciation in the exchange rate will always lead to a surplus on the current account. [8]
(b) Assess the extent to which the use of supply-side policy would be the best way to reduce a deficit on the current account of the balance of payments. [12]
5 (a) With the help of an aggregate demand and aggregate supply (AD/AS) diagram, explain why two components of AD may increase and consider the extent to which an increase in AD will always lead to inflation. [8] (b) Assess the view that the effects of a high rate of inflation are always more damaging for consumers than for firms. [12]
(a) With the help of an aggregate demand and aggregate supply (AD/AS) diagram, explain why two components of AD may increase and consider the extent to which an increase in AD will always lead to inflation. [8]
(b) Assess the view that the effects of a high rate of inflation are always more damaging for consumers than for firms. [12]