0455 Economics November 2025 Question Paper 11

consumers and producers cannot establish an equilibrium price

an increase in the holidays for lorry drivers

O X Y food machines PPC What would cause a movement from point X to point Y? decrease in productivity

More cars are bought.

the price of the product the consumer’s willingness to buy the product the consumer’s income ✓ ✓ ✓

S

demand will fall and total revenue will not change

charities and public sector firms

supply (tonnes) demand (tonnes) price ($)

What will be the effect if the government imposes a minimum price of $40 per tonne? a fall in the price of X

spending ($per month) income ($ per month) 4150 4375 4650 4900 4975 5275 4000 4300 4600 4900 5200 5500 What is the first level of income shown at which savings are positive? $5200

decreased membership of teaching trade unions

members are unskilled workers

average costs decrease

output 100 cost ($000s) What is the firm's total variable cost at an output of 100 units?$50000

decreases by $20

to allocate resources and reduce trade union membership

a budget deficit

changes in income tax rates

increasing the privatisation of industries

long-term effect on the PPC diagram short-term effect on the PPC diagram movement to a point inside the PPC movement to a point inside the PPC

economic growth employment fall fall

employment in millions industry year 2 year 1 agriculture fishing hospitality manufacturing retailing total How did the patterns of employment change between year 1 and year 2? tertiary sector secondary sector rose fell

a sustained fall in total demand

a decrease in the general price level

85+ 80–84 75–79 70–74 65–69 60–64 55–59 50–54 45–49 40–44 35–39 30–34 25–29 20–24 15–19 10–14 5–9 0–4 age millions year X male female 85+ 80–84 75–79 70–74 65–69 60–64 55–59 50–54 45–49 40–44 35–39 30–34 25–29 20–24 15–19 10–14 5–9 0–4 age millions year X + 50 male female During this period, how did birth and death rates change? death rates birth rates fell fell

competition between firms results in lower prices

an increase in the level of domestic regulation

D1

a lower exchange rate