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UNIVERSITY OF CAMBRIDGE INTERCONTINENTAL EXAMINATIONS GCE Advanced Subsidiary and Advanced Level DRAW SCHEME for the November 2005 problem paper 9708 ECONOMICS 9708/04 Paper 5, maximum uncooked mark 70 This tag scheme is published because an aid to teachers and students, to point the requirements with the examination. It shows the basis on which Examiners were initially instructed to award markings. It does not suggest the details in the discussions that took place at an Examiners’ getting together with before observing began.

Any substantial becomes the draw scheme that arose from these discussions will be noted in the published Report on the Examination.

Every Examiners will be instructed that alternative right answers and unexpected approaches in candidates’ scripts should be given marks that fairly reflect the relevant know-how and skills demonstrated. Draw schemes has to be read with the question documents and the Statement on the Examination. The minimum marks during these components essential for various marks were previously published with these indicate schemes, tend to be now rather included in the Report on the Exam for this period. ¢ CIE will not get into discussion or perhaps correspondence associated with these tag schemes.

CIE is creating the mark schemes intended for the Nov 2005 question papers for the majority of IGCSE and GCE Advanced Level and Advanced Subsidiary Level syllabuses and some Regular Level syllabuses. Page 1 Mark Structure GCE AS/A LEVEL ” NOVEMBER june 2006 Syllabus 9708 Paper four Section A ONE (a) What evidence is there in the article that the UK mobile phone companies operate within an imperfect marketplace structure? Simply four firms, can correct price, have got product difference in the handsets, no perfect knowledge. (b) Explain the statement ‘one result will probably be that cross-subsidisation will disappear and the price of a fresh handset is going up significantly. Explanation of meaning of subsidising 1 product or service by the profits upon another which usually itself could possibly be overpriced. Removing the subsidy will result in the price of the subsidised product raising if profit levels are to be maintained. Usually the subsidised merchandise makes a damage but is produced because it is supplementary to other earnings making goods and services. (c) The article says the decision of the High Court will cost the companies? 1 . 5 billion dollars to? a couple of billion. Clarify how the cellphone companies may well react in order to retain their profit levels.

Could make an effort to reduce labour costs, apply some redundancies, could prevent research and development, may generally try to reduce costs or could make an effort to increase income by marketing products through advertising. (d) Explain using a picture how the presence of end of contract charges might affect client surplus. Termination charges are put above the marketplace level. Plan should display a price above market eradicating which will result in reduction in consumer surplus. you mark intended for D/S plan correctly labelled, 1 for showing the reduced area of consumer excessive, 1 pertaining to explanation. e) Does the data lead you to go along with the spokesperson when he declared consumers must not necessarily view the decision like a good thing? In consumers’ fascination: they would save? 700 but over next three years, selling price reduction will be on most calls. Against consumers’ interest: cost of cell phone handset will rise, there exists a fear of elevated calls for texts, possibility of phone service,telephone company, telephone service finding a few other way to keep profits substantial. [6] [4] [4] [3] [4] University of Cambridge Foreign Examinations 2005 Page 2 Mark Plan GCE AS/A LEVEL ” NOVEMBER 2005 Syllabus 9708 Paper some

General comments for Section B The essay inquiries carry a maximum draw of twenty-five. Try not to , bunch’ signifies, but use the whole indicate range. If there is any doubt in your mind, provide the benefit of uncertainty to the applicant. The difference in grades ought to be assessed on the ability of the candidate to show the various aims of the assessment listed in the syllabus rather than purely within the ability to itemise further details from the content of the syllabus. Marks ought to be awarded pertaining to the ability to illustrate that goal (b) of the syllabus have been achieved as well as aim (a) , which usually refers to content material knowledge.

Is it doesn’t objective with the examination, as listed in the syllabus, to assess both these aspires. An overall guide for markings for individual inquiries is given below, these are by a total of 25. They might be applied proportionally of course to parts of concerns where the total is less than 25: Mark one particular ” being unfaithful (Linked to level one out of individual issue notes). 1-5 where the solution is mostly unimportant and only contains a few valid points built incidentally in an irrelevant context. There will become substantial omissions of analysis. right here the answer displays some knowledge but will not indicate which the meaning from the question has become properly appreciated. Basic problems of theory or a great inadequate progress analysis might be evident. 6″9 Mark 15 ” 13 (Linked to level two in individual question notes). 10 “11 where there can be evidence of a great ability to discover facts or any ability for graphs and/or a fair ability to apply known laws to new conditions. There should be a precise although undeveloped explanation with the facts concerning the question as well as an explanation from the theory, and evidence of some bility to discriminate and form general judgements. Will not expect a definite logical demonstration. There will not be much evidence of a chance to recognise unstated assumptions, neither to examine the implications of the hypothesis, nor of the capacity to organise tips into a new unity. 12 ” 13 where the response has a even more thorough relevance to the query but where theory is usually incompletely explained. College or university of Cambridge International Assessments 2005 Page 3 Draw Scheme GCE AS/A LEVEL ” THE FALL OF 2005 Syllabus 9708 Newspaper 4 18 , 17 (Linked to level 3 in individual question notes). 4 “15 where there is a great knowledge of the facts and theory of the query, clear evidence of the ability to use the facts and theory with accurate reference to the question which may have offered the candidate with a book application.

You read ‘Saaaa’ in category ‘Essay examples’ There must also be evidence, where appropriate, of the capability to examine the implications in the question and an attempt to distinguish between details and worth judgements. Crystal clear statements, supported by reasoned arguments should be given and there ought to be some attempt for a realization to the issue. There should be a reasoned composition to the complete answer.

Do not expect too many extra Illustrative points that happen to be not clearly referred to inside the question, will not expect an excessive amount of critical discuss unstated presumptions 16 , 17 intended for an answer showing a well reasoned understanding of the question’s requirements and of the kind of theory: the analysis ought to be sound although illustration and development may not be very total. 18 , 25 (Linked to level 4 in individual question notes). 18 “20 where there is a detailed knowledge of the important points and theory with an outstanding ability to describe, explain or perhaps analyse this kind of in a exact, logical, reasoned manner.

There ought to be an ability to query a few of the assumptions inside the question and clear evidence of an capability to distinguish between fact and value judgements and draw several conclusions within the matter becoming discussed. Results should be created and expressed within a appear structured response so that the whole is well presented. New illustrations and apposite good examples should be presented as further more evidence of a great ability to identify the principles in the question and the application to relevant current situations. 1 , twenty-five for a response which, offered the time restriction, could not end up being improved considerably: it will have clear analysis, enough illustration and a good attempt at considered evaluation. Be positive within your marking, awarding marks for what is there without having to be too much influenced by omissions. Marks should not be deleted for inaccuracies. Matching marks pertaining to sub-sections. Total Mark 10 Total Draw 12 Total Mark 13 Total Indicate 15 you 1-3 1-4 1-4+ 1-5 2 4-5 5-6 5-6+ 6-8 three or more 6-7 7-8 7-8+ 9-11 4 8-10 9-12 9-13 12-15 University of Cambridge International Examinations june 2006 Page some

Mark Scheme GCE AS/A LEVEL ” NOVEMBER 2006 Syllabus 9708 Paper 5 Section M 2 (a) Explain what is meant by efficient useful resource allocation within a free marketplace. L4 L3 L2 L1 (b) For any sound explanation with crystal clear understanding of the guidelines involved in the research. [8 ” 10] To get a competent reason but with limited development of the analysis. [6 ” 7] For a accurate explanation of any free industry but undeveloped explanation of allocative performance. [4 ” 5] Pertaining to an answer containing some basic accurate facts nevertheless includes irrelevancies. Errors of theory or omissions of research will be substantial. 1 ” 3] [10] Would you agree that in some situations it is best to agree to the decision such as that of french government and abandon the search for financial efficiency through the free market? [15] Discussion of the reason for marketplace failure. Monopolies, merit merchandise, public goods. Consideration of whether this might apply in the case of the large engineering firm. L4 L3 L2 L1 For a reasoned discussion of causes of market inability and evidently structured solution. [12 ” 15]. For a reasonable explanation of market inability but not enough development and reasoned bottom line. 9 ” 11] For a limited but appropriate attempt to consider some marketplace failures. [6 ” 8] For a remedy which has some basic correct specifics but comes with irrelevancies. Mistakes of theory or absences of analysis will probably be substantial. [1 ” 5] 3 (a) Explain just how trade assemblage can be incorporated into the economical analysis of wage determination. [12] Candidates are asked to comment on trade unions so the economic theory of wages that they can should 2 that pertaining to an not perfect market. This kind of theory must be explained employing marginal earnings productivity.

Trade unions can have an effect on the supply curve which can be now not anymore solely dependant upon market pushes. Where the real wage will probably be determined depends on the family member strengths with the employer plus the trade union. L4 L3 L2 L1 For a audio discussion with good description of the analysis and an obvious understanding of the guidelines involved. [9 ” 12] [7 ” almost 8 D and S approach] For any competent comment but with limited elaboration of the analysis. [7 ” 8] [5-6 D and S approach] To get a correct justification of section of the analysis. Prospects might clarify either the us government or the unions. 5 ” 6] [3+ ” 4 D and S approach] Intended for an answer which has some basic accurate facts nevertheless includes irrelevancies. Errors of theory or perhaps omissions of analysis will be substantive. [1 ” 4] [1 “3 D and S approach] University of Cambridge Worldwide Examinations 2006 Page your five Mark Scheme GCE AS/A LEVEL ” NOVEMBER june 2006 Syllabus 9708 Paper 5 (b) Talk about the likely effects that trade assemblage might have on the economy of a country. [13] Trade unions could affect the supply of time and doing work practices. They will could cause creation to decrease with consequent downwards effects upon income, spending and national income.

Prospects could explain this making use of the multiplier principle. Union could, however , through negotiation stop disruption of production, or perhaps could screen the execution of protection procedures that might involve extra spending by employer. This might well offer an upward effect on national income. L4 L3 L2 L1 For a reasoned and crystal clear explanation with accurate development of theory contrasting possible results. [9 ” 13] For the clear yet undeveloped justification which focuses on change of income in one direction just. 7 ” 8] For a limited attempt to consider the theory and with a higher concentration on the descriptive elements. [5 ” 6] For an answer that has some basic right facts nevertheless includes irrelevancies. Errors of theory or perhaps omissions of analysis are considerable. [1 ” 4] four (a) With the aid of diagrams separate normal revenue and irregular profit. [10] Diagrams showing normal and abnormal profit with enclosed explanation of the curves used in the plan. Candidates can easily distinguish between excellent and imperfect markets.

L4 L3 L2 L1 For any sound justification, good blueprints correctly classed, with clear understanding of the guidelines involved in the examination. [8 ” 10] For the competent description but with limited development of the analysis. Blueprints clear but not fully classed. [6 ” 7] For the correct justification of conditions but some poor diagrams. [4 ” 5] For a remedy which has some basic correct facts but contains irrelevancies. Errors of theory or omissions of analysis will be substantial. [1 ” 3] (b) Discuss whether firms always need to maximise revenue and are capable to do so in the way suggested simply by economic theory. 15] Discussion of the theory of profit maximisation. Individuals should consider not only whether it is likely to estimate marginal revenue and minor cost to achieve profit maximisation but as well whether the firm might have substitute aims. Sales maximisation, behavioural, managerial, satisficing, market share is designed might be mentioned. L4 L3 L2 L1 For a reasoned discussion and clearly structured answer. [12 ” 15] For a reasonable discussion although undeveloped answer mentioning both only one part of the question or perhaps both parts but just scant mention of alternative aspires. 9 ” 11] For a limited but acceptable attempt to consider the question with very limited advancement either component. [6 ” 8] Pertaining to an answer that has some basic appropriate facts yet includes irrelevancies. Errors of theory or perhaps omissions of research will be considerable. [1 ” 5] University of Cambridge Worldwide Examinations 2006 Page six Mark Structure GCE AS/A LEVEL ” NOVEMBER 2005 Syllabus 9708 Paper 4 5 What lengths do you concur that low interest rates and low inflation would be the most important aims of government plan in increasing economic well being? 25] Discussion of the overall macro aims of government insurance plan with a discuss whether the two mentioned must be regarded as the most important. The effect of low interest rates and low pumpiing and feasible links together can be developed. Reasons needs to be given pertaining to either deciding on or certainly not choosing these types of aims as the utmost important. L4 L3 L2 L1 For the thorough explanation of the aims, a clear examination of the hyperlink between them, a discussion of the likely outcome of your choosing both those seeks or alternatives with a reasoned conclusion. 18 ” 25] For the competent reason of the seeks but high is only limited attempt to consider the significance in the importance of the aims. There will be some discussion but the evaluation will not be totally developed or extensive. [14 ” 17] For a precise though undeveloped explanation which includes attempt at research but just limited evaluation. [10 ” 13] Pertaining to an answer which in turn shows a lot of knowledge nevertheless does not indicate that the problem has been completely grasped. The answer will have a few correct details but contain irrelevancies. Mistakes of theory or omissions of analysis will probably be substantial. you ” 9] 6 With the acceptance of the Malaysian government, the Swedish firm IKEA, the world’s most significant retailer of home furnishings, features invested $106 million in Malaysia in the past three years. It plans to spread out another huge store near your vicinity, employing 400.00 people with anticipated sales of around $50 mil in the initial year. (Herald Tribune August 15 03 p 12) (a) Use the multiplier evaluation to explain what effect this investment may have on the Malaysian national salary. [10] Discourse on the effect of increasing investment in terms of employment, income, spending, conserving.

Multiplier analysis. Usually this question comes up with reference to govt spending and investment but this is a sizable investment and in addition it will have multiplier effects. L4 L3 L2 L1 For a sound explanation of the evaluation and a definite understanding of the principles involved. [8 ” 10] For a proficient comment good results . limited elaboration of the research. [6 ” 7] To get a correct reason of portion of the analysis. Applicants might clarify how expenditure might enhance income but might not deal with further improves in as they do not go over what leaking occur at each ’round’. four ” 5] Pertaining to an answer which includes some basic correct facts although includes irrelevancies. Errors of theory or omissions of research will be significant. [1 ” 3] University of Cambridge International Examinations 2005 Page 7 Mark Scheme GCE AS/A LEVEL ” NOVEMBER june 2006 Syllabus 9708 Paper four (b) Discuss whether the actions of multi-national companies are often beneficial. Candidates should go over the effects of huge companies. They will could consider whether a huge company is helpful for the shareholders, the workforce as well as the consumer. These types of groups may be in different countries.

They should discuss the effect in host country where wages/incomes/employment might boost and on the possible rewards for directors (and shareholders) who could possibly be in the home country. The multi-national might have decided to operate in the host nation because of reduced costs or perhaps cheaper advices so a comment on the possible benefits of comparative benefits would be relevant. L4 L3 L2 L1 For a audio discussion with good justification of the analysis and a clear understanding of the principles involved. Reasoned evaluative comments should be given. 12 ” 15] For a skilled comment but with only limited evaluation from the effects. [9 ” 11] For a accurate discussion of the analysis good results . only extremely brief, or any evaluation. [6 ” 8] For a remedy which has some basic correct facts but contains irrelevancies. Errors of theory or absences of analysis will probably be substantial. [1 ” 5] [15] 7 ‘There a number of difficulties in measuring living standards that we can never make certain that people in one country are better off than those in another country. ‘ Comment after this affirmation. [25] Prospects should consider each part of the assertion.

They should talk about whether there are plenty of difficulties in measuring living standards and offer reasons for their conclusion with this part of the issue. They should in that case consider whether it is possible to compare one particular country with another and discuss what use nationwide income stats might be. They must form a general conclusion. L4 L3 L2 L1 For a thorough explanation of the difficulties of computing living standards, and a clear conclusion towards the assertion and then a consideration with the usefulness of using the figures to make comparisons. [18 ” 25] To get a competent justification of the problems but with a restricted conclusion.

There will be some concern of comparison between countries but this will likely not end up being fully produced or extensive. [14 ” 17] To get an accurate although undeveloped explanation with some attempt for analysis nevertheless only limited evaluation. The conclusion will be weakened. [10 ” 13] To get an answer which in turn shows a lot of knowledge yet does not suggest that the issue has been completely grasped. The answer will have some correct specifics but include irrelevancies. Errors of theory or absences of analysis will be substantial. [1 ” 9] School of Cambridge International Assessments 2005

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