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    0455 Economics: MARK SCHEME For The October/November 2007 Question Paper

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    0455 Economics: MARK SCHEME For The October/November 2007 Question Paper

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    Faheem ur Rehman
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    hi

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    0455 Economics: MARK SCHEME For The October/November 2007 Question Paper

    Uploaded by

    Faheem ur Rehman
    hi

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

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    UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS

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    International General Certificate of Secondary Education

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    MARK SCHEME for the October/November 2007 question paper

    0455 ECONOMICS
    0455/02 Paper 2 (Core), maximum raw mark 60

    This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of
    the examination. It shows the basis on which Examiners were instructed to award marks. It does not
    indicate the details of the discussions that took place at an Examiners’ meeting before marking began.

    All Examiners are instructed that alternative correct answers and unexpected approaches in
    candidates’ scripts must be given marks that fairly reflect the relevant knowledge and skills
    demonstrated.

    Mark schemes must be read in conjunction with the question papers and the report on the
    examination.

    • CIE will not enter into discussions or correspondence in connection with these mark schemes.

    CIE is publishing the mark schemes for the October/November 2007 question papers for most IGCSE,
    GCE Advanced Level and Advanced Subsidiary Level syllabuses and some Ordinary Level
    syllabuses.
    Page 2 Mark Scheme Syllabus Paper
    IGCSE – October/November 2007 0455 02

    1 (a) Explanation of land, labour, capital, and enterprise. [4]


    A list of four factors, 2 marks only.
    A list of three factors, 1 mark only.

    (b) More capital and more investment but less labour. [2]

    (c) Explanation of fixed and variable costs. Fixed cost will increase with new technology. Labour
    may be a fixed or a variable cost but likely delivery staff are thought to be a variable cost. As
    labour may be replaced by machines, this will decrease. However, if labour is paid more, the
    overall effect is uncertain. [4]

    (d) Price rises usually cause demand to fall and switch to other substitutes. This may not be
    thought to be a sufficient increase to cause many to switch to alternative means of
    communication. Extended candidates could mention price elasticity of demand. [4]

    (e) Only comparison on price is with Italy and Germany.


    No real information about rate of inflation, only a general statement about price comparing
    well.
    Delivery figures do seem to support the claim that Royal Mail is providing good service (but
    only comparison is with France).
    Only one delivery a day now, no comparison on that with other countries.
    Statement about investing in training and technology.
    Does say it needs to make profits. Not sure how much will be re-invested.
    The conclusion is uncertain as there is insufficient evidence. [6]
    A maximum of 4 marks for a one-sided answer.

    2 (a) May employ people from different countries but this is not the definition. Has to operate in
    different countries. Governments may be involved in multi-national companies but this again
    is not the definition and most would be privately owned. [4]

    (b) Group of people working together in a similar occupation, promote welfare, safety, negotiate
    wages. [6]

    © UCLES 2007
    Page 3 Mark Scheme Syllabus Paper
    IGCSE – October/November 2007 0455 02

    3 (a) Explanation of principle. Must mention ‘next best’ or ‘best’ for 2 marks. Application in terms
    of what might be given up – for example, might get higher pay but give up shorter journey,
    might give up possible alternative job, might give up holidays by switching employment,
    1 mark. [3]

    (b) Could be a range of non-wage factors, could be amount of skill required, may be a manager
    or a clerical worker, differences in male and female, extent of union activity, supply of and
    demand for labour can be mentioned. [7]
    Maximum of 5 marks if not related to a service sector occupation.

    4 (a) Any three which could be connected with age distribution, birth rate, death rate; occupational
    distribution; dependency ratios, extent of malnutrition. [3]

    (b) Comment on validity of using GDP. Difficulties of comparison over time and between
    countries, problems of informal economy, inflation, income per head, non-economic factors
    influencing standard of living, exchange rates. [7]

    5 (a) Concentration on a particular skill, or in this case a particular product, which it is thought the
    country is better suited to providing. [4]

    (b) Text books will tell you that specialisation will produce greater efficiency. However, this has
    implications in terms of the human cost of this through loss of income, employment,
    impoverishment of regions and general disaffection of those who are not involved in the
    specialised areas. [6]

    © UCLES 2007

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