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Mark Scheme (Results) : Summer 2017
Mark Scheme (Results) : Summer 2017
Summer 2017
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Summer 2017
Publications Code 4EC0_01_1706_MS
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General Marking Guidance
1(a)(ii) (2)
Question Suggest two possible reasons why the global demand for Mark
Number coffee is price inelastic.
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)
Question Apart from seeking to increase wages, identify one other Mark
Number role of a trade union.
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)
2(b)(i) (3)
Question Give one example of the type of business activity that Mark
Number might be found in each of the three sectors of an
economy.
Question Mark
Number Barriers to entry make it impossible for firms
to enter the Mexican telecommunications
market.
Consider one policy a government can use to improve
competition. How effective might this policy be in
achieving an increase in competition in a market such
as the Mexican telecommunications market?
1 mark for identifying government policy
2(d)(ii) e.g. subsidising smaller firms, regulation, other financial (6)
incentive e.g. cheap loans, grants
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)
Question Briefly explain one advantage of economic growth and one Mark
Number disadvantage.
1 mark for advantage, 1 mark for development
3(a)(ii) e.g. increased incomes (1) can buy more goods and (4)
services/enjoy better quality of life (1)
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)
Question Explain why an MNC such as Samsung might want to invest Mark
Number in Vietnam.
e.g. To save money (1) labour costs may be lower in
4(a)(ii) Vietnam than elsewhere (1) assembling electronic devices (4)
is likely to use a lot of labour (1) reducing costs may
enable Samsung to reduce price and gain a competitive
advantage (1)
Question Increasing FDI will always benefit a developing economy Mark
Number such as Vietnam. To what extent do you agree with this
statement?
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)
Question Explain one way in which Vietnam might benefit from free Mark
Number trade.
1 mark for reason, 2 marks for development
4(b)(iii) (3)
e.g. reduces cost of imports (1) consumers get cheaper
goods (1) and increase in real income/spending power (1)
Further guidance
Maximum for 1 sided argument (3 marks)
Maximum for both sides (4 marks)