The exam paper focuses on microeconomic concepts, including market structures, supply and demand, and economic efficiency. Key topics cover price elasticity, economies of scale, market equilibrium, and externalities. Quantitative tasks include calculations of average fixed costs, net pay, and price elasticity. Real-world applications analyze competitive and non-competitive markets, such as farmers’ markets and the High Speed 2 (HS2) project. Emphasis is placed on government interventions, social costs, and regional economic disparities. The paper explores economic decision-making, opportunity costs, and the socio-economic impacts of large infrastructure projects on labor markets and inequality.