成果经济试卷

UNIVERSITYOFCAMBRIDGEINTERNATIONALEXAMINATIONS

InternationalGeneralofSecondaryEducation

MARKSCHEMEfortheMay/June2010questionpaperfortheguidanceofteachers

0455/22

0455ECONOMICS

Paper22(StructuredQuestions),

umrawmark80

Thismarkschemeispublishedasanaidtoteachersandcandidates,toindicatetherequirementsoftheexamination.ItshowsthebasisonwhichExaminerswereinstructedtoawardmarks.ItdoesnotindicatethedetailsofthediscussionsthattookceatanExaminers’meetingbeforemarkingbegan,whichwouldhaveconsideredtheacceptabilityofalternativeanswers.

Markschemesmustbereadinconjunctionwiththequestionpapersandthereportontheexamination.

CIEwillnotenterintodiscussionsorcorrespondenceinconnectionwiththesemarkschemes.

CIEispublishingthemarkschemesfortheMay/June2010questionpapersformostIGCSE,GCEAdvancedLevelandAdvancedSubsidiaryLevelsyllabusesandsomeOrdinaryLevelsyllabuses.

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1 (a)Ideaofadownswing/downturninabusinessortradecycle.Economicgrowthwillbenegative.

Risingunemployment/joblosses.

Ideaofaperiodoftime(technicallytwosuccessivequartersofnegativegrowth,butweshouldn’texpectcandidatestobethisprecise). [2]

Productivityreferstooutputperfactororinput,suchasoutputperworker(1),perperiodoftime(1).

Avaguecommentonanincreaseinproduction/outputshouldgetnomarks. [2]

Theyhaveaseparaegalexistencefromtheirowners.Theyareownedbyshareholders.

Theownershavelimitedliability.Theyhaveplcaftertheirnames.

Sharescanbetradedonastockexchange.

ThedirectorsmustreportontheprogressofthetotheshareholdersatanAGM.

Aumof2marksifonlyonefeatureisdescribed,butitisdoneverywell. [3]

Possiblereasons:

wages/salaries

otherfinancialfactors,e.g.bonus,commission,profitsharing

hoursofwork/flexitime

location(possiblyreducingtraveltime/cost)

workingconditions

holidayprovision

promotionprospects

fringebenefits,e.g.car

pensionarrangements

social/leisure/canteenfacilities.

Upto3marksforidentificationofreasons.

Upto3marksforexnationofthesereasons. [6]

Generalunderstandingofwhatatradeunionis(2)(thiscanbeimpliedthroughouttheanswer).

Discussionofroleinrelationto:

betterpay

improvedworkingconditions

puttingpressureonindividualfirmstomaintainjobs

puttingpressureonernmenttomaintainjobs

threat/differenttypesofindustrialaction(5).

Thequestiondoesrefertohoweffectivetradeunionsmaybeintheirinfluence;answerswhichfailtoaddressthiscangainnomorethan4marks.

Answerswhichonlydealwithfirmsortheernmentcangetaumof4marks. [7]

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2 (a)(i)Correctlylabelleddiagram(price,ty,demand)(1).

Shiftofdemandcurvetotheright(1). [2]

Possiblecauses:

risein e

greavailabilityofcredittofinanceborrowing

fallininterestrateonloans

priceofsubstitutehasgoneup

priceofcomplementhasgonedown

effectofadvertisingn

growthinpopulation

changeintastesandpreferencesofconsumersinfavourofaproduct.

Notethatthequestionaskscandidatestoidentifytwocauses. [2]

GeneralideathatPEDmeasuresthesensitivityofdemandtoachangeinprice(1).

Preciseformula:percentagechangeintydemandedofaproductdividedbypercentagechangeinpriceofaproduct(2).

Extracomment,e.g.itisusuallynegative,itcanrangefromperfectlyinelastictoperfectlyelastic(1). [4]

IfPEDiselastic,thebusinessshouldreduceprice(1)tobenefitfromanincreaseinrevenue(1).IfPEDisinelastic,thebusinessshouldincreaseprice(1)tobenefitfromanincreaseinrevenue(1). [4]

Firmsmaycometodominateandhavemonopolypower,leadingtohigherpricesandlowerlevelsofoutput.

Theremaybesignificantdifferencesin eandwealth,whichgivessomeconsumersmuorepowerthanothers.

Meritgoods,whicharesociallydesirable,maybeunder-providedandunder-consumed.Demeritgoods,whicharesociallyundesirable,maybeover-providedandover-consumed.Publicgoods,whichcannotbeeasilyprovidedthroughamarketsystem,maynotbeprovidedatall.

Resourcescannotalwayseasilymovefromoneusetoanother,e.g.labourmaynothavethenecessaryskillsand/orinformation.

Externalitiesmaynotbetakenintoaccountinconsumptionandproductiondecisions.

Pleasenotethatmerit,demeritandpublicgoodsarenotonthesyllabus;aummark,therefore,couldbeobtainedwithoutreferencetoanyofthese.

Ageneralunderstandingofwhatismeantbymarketfailurecangainupto2marks.

Anarrowfocusononeparticularareaofmarketfailure,thatisdonewell,cangainaumof5marks. [8]

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3 (a)Afixedoroverheadcostisacostofproductionwhichdoesnotvarywithchangesinoutput(1),suchasthecostoffixedinterestpaymentsonloans(1).

Avariablecostisacostofproductionwhichdoesvarywithchangesinoutput(1),suchasthecostofrawmaterials(1). [4]

Threefromthefollowing:

land,e.g.wheretheterminalsandrunwaysareconstructed

labour,e.g.theskilledandunskilledlabourinvolvedinthevariousactivities

capital,e.g.theequipmentandmachineryusedattheairport

enterprise,e.g.theroleoftheentrepreneurinvariousairportoperations.

Allowconstruction(asopposedtooperation)ofanairport.Alistofthreefactorsofproductioncangain1mark.

Agoodexnationofthesethreefactors,withnoapplicationtoanairport,cangetaumof5marks. [6]

Thesocialcostmeasuresthecosttothewholesocietyofaneconomicactivity;itisequaltothesumoftheprivatecostandtheexternalcost.Examplescouldincludenoiseandvisualpollution(external)andwagespaidtobuildingworkers(internal).

Thesocialbenefitmeasuresthebenefittothewholesocietyofaneconomicactivity;itisequaltothesumoftheprivatebenefitandtheexternalbenefit.Examplescouldincludeextrarevenuegeneratedinthearea,improvementintransportinfrastructureandbenefittotradeandtourism(external)andprofitsearnedbyairlines(internal).

A umof6marksifthecandidateonlydiscussessocialcostsorsocialbenefits.Also,a umof6marksifnoreferencetoanewrunway.

Ananswerthatfocusesonlyonexternalorprivatecostsandbenefitscangetaumof6marks. [10]

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4 (a)Soleproprietor:

asmall,onebusiness

theishis/herownboss

theownerisallyliableforanydebtsandhasunlimitedliability

thereceivesalltheprofits.

Partnership:

individualsworktogetherandsharejointresponsibilityforanydecisions

thepartnersusuallyhaveunlimitedliability

morepeopletobringinskillsandideas

enhancesabilitytobringinmorefunds.

Aumof2marksifonlyonetypeofbusinessiscovered. [4]

Possiblereasons:

canbringinmoremoneybysellingsharestofriendsandfamily

thiswillprovidenecessaryfinanceforabusinesstoexpand

shareholdershavelimitedliability

thehasaseparaegalidentity. [4]

Possiblereasons:

amountofcapitaltofinancegrowth

organisationofthebusiness,e.g.soletrader

alchoice/preferencesofowner(s)

ernmentregulation/assistance

customerpreferencefor alservice

locationinparticularshop areas,e.g.villages

convenience,e.g.extendedopeninghours.

Notethatthequestionspecificallyreferstotheretailtrade;aumof3marksifnoreferencetotheretailtrade. [5]

Economiesofscale:

bulkbuying

managerial

technical,e.g.specialisation,indivisibilities,linkedprocesses

financialeconomies

riskbearingeconomies.

Theseareallinternaleconomiesofscale,butcreditshouldbegiventoreferencetopossibleexternaleconomies,suchasavailabilityofskilledlabourorexistenceofancillaryfirms.

Thequestiondoesrefertotheextentsotherecouldbeareferencetopossiblediseconomiesofscale.

Thequestionalsoreferplicitlytotheevisionmanufacturingindustry;aummarkof5ifageneralanswerisgivenwithnospecificreferencetoevisionmanufacturing. [7]

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5 (a)Topayfor:

education

healthservice

transport

socialservices/security

housing

localernment

lawandorder

defence.

Partoffiscal:

toreducethelevelofdemand

tohelpcontrolinflation

todiscourageimports

tomaintainabalanceofpaymentsequilibrium

toredistribute e.

Aummarkof4ifcandidateonlydealswithraisingrevenuetopayforexpenditure.[6]

Directtaxes:

thesetakemoneydirectlyfrompeople’s esorfromcompanies’profits

theycanbeprogressiveineffect

examplesinclude etax,corporationtax,inheritancetax,capitalgainstax.

Indirecttaxes:

thesearepaidwhengoodsandservicesarebought

thesetendtoberegressiveineffect

examplesincludeVAT/GST,exciseduties. [4]

Directtaxes,suchas etax,areprogressivemeaningthattheytakeahigherproportionof efromtherichthanthepoor.Theytakeintoaccounttheabilityofpeopletopayandthemoneyobtainedcanthenbeusedtopayforbenefitstothepoor,suchashousingbenefits,unemploymentbenefitsandothertypesofsocialsecurity.Thiswouldn’tapplytoindirecttaxesbecausetheseareregressivetaxes.Inotherwords,theydonottakeintoaccounttheabilitytopay.

Thequestiondoesrefertoextent;answerswhichfailtoaddressthiscangetnomorethan6marks. [10]

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6 (a)Economicadvantages:

largepooloflabour

largenumberofconsumers.

Economicdisadvantages:

possibleburdenonlimitedresources

highrateofunemployment. [4]

Possiblereasons:

birthrate

deathrate

fertilityrate

netmigration

livingstandards/qualityoflife

availabilityof/knowledgeaboutcontraception

customsandbeliefs

religion

femaleemployment/careeropportunities

ageofmarriage

medicaladvancesandhealthcare

influencesonimmigration/emigration,e.g.availabilityofjobs.

umof3marksforidentificationofreasons. [6]

GDP:

GDP

realGDP

perhead/percapita

arathernarrowmeasureofeconomicdevelopment/welfare

doesn’ttakeintoaccountwhatpeoplecanbuywiththeir es

doesnottakeintoaccountthedistributionof e,thetypeofproductsproducedorpollution.

Thereareotherwaysofmeasuringthestandardofliving,suchastheHumanDevelopmentIndex:

UnitedNationscompilation

hasaumpossiblevalueof1

itdoesincorporateGDPpercapita

alsoincludesaccesstoeducationandknowledge,measuredbytheadultlicyrateandschoolandcollegeenrolmentrates

alsoincludeshealth,dietandlifestyle,measuredbylifeexpectancyatbirth.

Thequestiondoesrefertohoweffectively,e.g.acomparisonofGDPwithalternativeapproaches;answerswhichfailtoaddressthiscangainnomorethan6marks. [10]

7 (a)Anexchangerateisthepriceofonec