AQA As Economics Paper 1 2025 Question Paper Pdf

Download the official AQA AS Economics Paper 1 question paper from the May 2025 series (7135/1), sat on **Tuesday 13 May 2025 (morning)**. This paper focuses on **The Operation of Markets and Market Failure** and is worth **70 marks over 1 hour 30 minutes**.

The paper is divided into **Section A (multiple choice)** and **Section B (data response)**:

**Section A (pages 2–12): Multiple-choice questions**
- 20 questions covering core microeconomic concepts
- Topics include:
- Factors of production and economic decision-making (Q1–2)
- Demand and supply shifts (Figure 1, page 3)
- Market structures and pricing strategies (Q4)
- Costs and average cost calculation (Q5)
- Market failure and merit goods (Q6–7)
- Elasticity concepts (Q12, Q15 cross elasticity)
- Externalities and social vs private costs (Figure 2, page 5)
- Market concentration ratios (Table 1, page 7)
- Price mechanism functions (Q18)
- Government failure (Q20)

For example:
- **Page 5 (Figure 2)** illustrates divergence between private and social costs, requiring identification of overproduction due to negative externalities.
- **Page 7 (Table 1)** requires calculating changes in concentration ratios from market share data.
- **Page 9 (Table 2)** tests cross elasticity of demand using real data.

**Section B (pages 13–33): Data response (choose one context)**

**Context 1: Flood Defences**
- Definition question: *Opportunity cost* (3 marks)
- Data analysis using regional expenditure data (mean vs median calculation)
- Comparison of funding sources (local government vs other)
- Diagram: impact of removing building restrictions on housing supply (page 16)
- 10-mark explanation: rising UK house prices
- 25-mark essay: Should government be solely responsible for flood defence funding?

**Context 2: Coffee Markets**
- Definition question: *Productivity* (3 marks)
- Calculation: number of cups consumed at work (page 24)
- Data comparison: forecast vs actual coffee prices
- Diagram: inelastic demand and total revenue (page 26)
- 10-mark explanation: effect of capsule prices on coffee machine demand
- 25-mark essay: Should governments intervene in coffee markets?

The paper requires strong skills in:
- Data interpretation and calculations
- Diagram drawing and explanation
- Application of theory to real-world contexts
- Extended evaluation for high-mark essays

This resource is essential for realistic AS Economics exam practice, helping you master multiple-choice techniques, data response skills, and essay structure required for top grades.

Fully updated for the 2025/2026 academic year and optimised for instant download on markscheme.net.

This paper is ideal for Year 12 students preparing for AQA AS Economics exams and Year 13 students revising microeconomic fundamentals for A-Level Economics.

Teachers and tutors use this resource for mock exams, timed practice, and data response training. It is also perfect for independent learners aiming to improve exam technique and evaluation skills.