Edexcel International A Level (IAL) Economics (WEC11–WEC14) Past Papers 2026

Markets in Action (WEC11)

Duration: 1h 45m

Macroeconomic Performance and Policy (WEC12)

Duration: 1h 45m

Business Behaviour (WEC13)

Duration: 2 hours

Developments in the Global Economy (WEC14)

Duration: 2 hours

Diminishing marginal utility vs decreasing total utility

WEC11 June 2024 Q8: 'Diminishing marginal utility was often not well understood. Whilst most could access the application mark many confused diminishing marginal utility with decreasing marginal utility and struggled to access any knowledge or analysis marks. The concept of diminishing marginal utility needs more work... it is where marginal utility falls. The utility is rising but at a slower rate.'

Unit 1

Non-rivalry vs non-excludability of public goods

WEC11 June 2024 Q9: 'The ability to explain non-excludability was more limited as many just said it was not excludable. This just rearranged the words and more was needed. Non-rivalry was better understood... whilst most could identify that this makes good public goods some struggled explaining the difference between the two concepts.'

Unit 1

Price elasticity of demand along a demand curve and price elasticity of supply

WEC11 June 2024 Paper Summary: 'Question 4 required candidates to identify the point on a demand curve where the price elasticity of demand will be one. It was the worst performing question with less than half able to identify that this was half way along the demand curve. Some work is needed with learners on how price elasticity varies along the demand curve.' Q6: 'many candidates struggled to deduce that house prices decreasing by 2.1% when the price elasticity of supply is 2.8 would lead to a reduction in supply of 5.88%.'

Unit 1

LRAS, classical vs Keynesian, and house prices in macro

WEC12 June 2023 Introduction: 'The two questions with the focus on LRAS and house prices were the least well answered questions in this section (Q3 and Q4 respectively) and this part of the specification may need attention by centres.' WEC12 June 2024 noted similar weakness on trade balance and house prices in MCQ.

Unit 2

Marginal Propensity to Consume and the multiplier formula

WEC12 June 2023 Q9: 'Many candidates were unable to correctly calculate the MPC. This is because they were not always informed of the multiplier equation and hence did not arrive at the correct workings.' Many quoted MPC = ΔC/ΔY from the stem ($25bn / $100bn = 0.25) instead of using the multiplier 1/(1−MPC) = 4 to derive MPC = 0.75.

Unit 2

Deflation vs disinflation

WEC12 June 2023 Q11: 'It is important to remember the distinction between deflation and disinflation.' Candidates often confused a falling rate of inflation with falling prices.

Unit 2

Terms of trade in WEC14

WEC14 June 2023 Introduction: 'The question with the focus on terms of trade was the least well answered question (Question 5) and this part of the specification may need attention by centres.' WEC14 June 2024 Introduction repeats: 'The question with the focus on terms of trade was the least well-answered question (question 4), and this part of the specification may need attention by candidates.'

Unit 4

Causes of income inequality and using the Gini coefficient / Lorenz curve

WEC14 June 2023 Q10: 'Most were able to identify the causes... Some answers carried a two-stage chain of reasoning without application to terminology and concepts, and therefore, candidates were not able to access Level 3 KAA. Those who linked it to the Gini coefficient and the Lorenz curve effectively, attained the higher level marks.'

Unit 4