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2.1 Introduction to the national economy

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Question 8

Table 1 shows the financial position of four households before a rise in interest rates. All other factors remain unchanged.

HouseholdSavingsMortgage debtMortgage rate
P£40,000£0None
Q£25,000£60,000Fixed
R£2000£180,000Variable
S£15,000£90,000Variable

Using Table 1, which household is most likely to experience the largest fall in money available for spending?

[1]
A

Household P

B

Household Q

C

Household R

D

Household S

Markscheme

2.1 Introduction to the national economy Questions

  1. GCSE
  2. /Economics
  3. /2.1 Introduction to the national economy

75 exam-style questions on AQA GCSE Economics 2.1 Introduction to the national economy, covering 2.1.1a What an interest rate is, 2.1.1b Interest rates and consumer decisions, 2.1.1c Interest rates, producer decisions and calculations, 2.1.2a UK government revenue and spending, and 2.1.2b Direct, indirect and progressive taxation. Each one has a worked solution and a mark scheme showing where the marks go.

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