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A-Level Economics (AQA)

Micro and macroeconomics. AQA board.

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Pass mark 24/40 60 minutes AQA How many can I get wrong?
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Try 3 real A-Level Economics (AQA) questions
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Q1. Which of the following best defines a 'market failure'?
  • A.  Any situation where a firm makes a loss
  • B.  A fall in the price of a good below its cost of production
  • C.  A misallocation of resources where the free market fails to achieve allocative efficiency
  • D.  A situation where government intervenes in an otherwise efficient market
Show answer & explanation
✓ Answer: C. A misallocation of resources where the free market fails to achieve allocative efficiency
Market failure occurs when the free market, left to its own devices, leads to an inefficient allocation of resources (marginal social benefit does not equal marginal social cost). It is not simply about firms making losses or prices falling, which can happen in perfectly efficient markets.
Q2. The price elasticity of demand for a good is calculated as -0.4. What does this tell us?
  • A.  Demand is price inelastic, so a price rise will increase total revenue
  • B.  Demand is price elastic, so a price rise will decrease total revenue
  • C.  Demand is unit elastic, so total revenue is unaffected by price changes
  • D.  Demand is perfectly inelastic, so quantity demanded never changes
Show answer & explanation
✓ Answer: A. Demand is price inelastic, so a price rise will increase total revenue
A PED of -0.4 has a magnitude below 1, meaning demand is price inelastic — quantity demanded changes proportionally less than price. Because demand is inelastic, raising price increases total revenue, since the percentage fall in quantity is smaller than the percentage rise in price.
Q3. In monopolistic competition, why does long-run equilibrium typically involve firms earning only normal profit, despite each firm having some price-setting power?
  • A.  Because government regulation caps prices
  • B.  Because firms are legally required to set price equal to marginal cost
  • C.  Because low barriers to entry allow new firms to enter and erode any supernormal profit over time
  • D.  Because marginal cost always equals average cost in this market structure
Show answer & explanation
✓ Answer: C. Because low barriers to entry allow new firms to enter and erode any supernormal profit over time
Just as in perfect competition, the absence of significant barriers to entry means that supernormal profits attract new entrants, whose differentiated products draw customers away from existing firms until demand falls enough that only normal profit remains. Unlike perfect competition, however, the resulting equilibrium output is not at the point of minimum average cost, since demand is downward-sloping.
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Markets & market failure · 35
Demand, supply & elasticity · 37
Costs, revenue & competition · 35
National income & AD/AS · 36
Macroeconomic policy · 37
International trade & development · 35

Who has to sit the A-Level Economics (AQA)

Who needs a A-Level Economics (AQA)?

Students typically seeking university degrees in Economics, Finance, or Business. No prior GCSE Economics is required.

The real A-Level Economics (AQA): format

How many questions are in the A-Level Economics (AQA)?

The real A-Level Economics (AQA) has 3 questions and lasts 360 minutes. Our mock uses 40 questions in 60 minutes.

What it costs, and what a resit costs

How much does the A-Level Economics (AQA) cost?

Real exam fee: £220-£450 (private candidate exam and centre fees, excluding tuition). Resit fee: £220-£450 (private candidate exam and centre fees, excluding tuition). Rebooking after a fail: Typically annually for June exam series; late entry fees apply after February deadline.

How hard is it

What is the A-Level Economics (AQA) pass rate?

Real exam first-time pass rate: 98.1% (A*-E grade, 2026). Difficulty: Moderately challenging, requires analytical essay writing and quantitative skills.

Why people fail it

Why do people fail the A-Level Economics (AQA)?

Figures for the real exam from vertexaisearch.cloud.google.com, checked October 2026. Fees and rules change, so confirm with the test provider before you book.
A-Level Economics (AQA): common questions
Frequently asked
What is the pass mark for the A-Level Economics (AQA)?
You need 24 out of 40 correct to pass, which is about 60%. Our mocks mark you against this exact threshold.
How long do you get?
The test is timed at 60 minutes. Our full mock runs on the same clock so you can practise your pacing.
Are these the real exam questions?
No. Our questions are original and written to match the current syllabus, so they give realistic practice without copying the official paper. Every answer comes with a plain-English explanation. Always confirm current rules and content with AQA.