Pearson Edexcel International GCSE Economics (4EC1/02R) Question Paper 2 and Mark Scheme 2026

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Pearson Edexcel International GCSE Economics (4EC1/02R) Question Paper 2 and Mark Scheme 2026

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Pearson Edexcel International GCSE Economics (4EC1/02R) Question Paper 2 and Mark Scheme 2026

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Please check the examination details below before entering your candidate information
Candidate surname Other names

Centre Number Candidate Number

Pearson Edexcel International GCSE

Afternoon (Time: 1 hour 30 minutes) Paper
reference 4EC1/02R
Economics 🟐 🟐

Level 1/2
PAPER 2: Macroeconomics and the Global Economy

You do not need any other materials. Total Marks

Instructions

•• Use black ink or ball-point pen.
Fill in the boxes at the top of this page with your name,
centre number and candidate number.
•• Answer all questions.
Answer the questions in the spaces provided
– there may be more space than you need.
•• Calculators may be used.
You are advised to show all your working out with your answer clearly
identified at the end of your solution.

Information

•• The total mark for this paper is 80.
The marks for each question are shown in brackets
– use this as a guide as to how much time to spend on each question.

Advice
• Read each question carefully before you start to answer it.
• Check answer
Try to every question.
• your answers if you have time at the end.
Pearson Edexcel International GCSE Economics (4EC1/02R)
Question Paper 2 and Mark Scheme 2026

, Answer ALL questions. Write your answers in the spaces provided.

Some questions must be answered with a cross in a box . If you change your mind about an

DO NOT WRITE IN THIS AREA
answer, put a line through the box and then mark your new answer with a cross .
1 (a) Which one of the following is an example of seasonal unemployment?
(1)
A A farm worker having no work due to automation

B A construction worker not finding work during the monsoon period

C A skilled worker unable to find employment due to a recession

D A person choosing not to work and being paid welfare benefits

(b) Which one of the following is likely to cause cost-push inflation?
(1)

A An increase in consumer demand for goods and services

B A decrease in taxes on business profits

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C An increase in the prices of raw materials paid by producers

D A decrease in interest rates set by the central bank

(c) What is meant by the term current account deficit?
(2)

. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . ......................

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2
■■■■

, (d) Describe one benefit to a country of using quotas for imported goods.
(2)
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. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . ......................

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(e) Calculate the price in euros (€) of a UK-manufactured smartphone priced at £750
when the exchange rate is £1 = €1.18. You are advised to show your working.
(2)

. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. .. . . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . .. . . ......................
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3
■■■■ Turn over

, In January 2024, China introduced a 6% tariff on coal from Russia, South Africa,
Mongolia and the US.

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(f) Using the diagram below, draw the effects of the introduction of the tariff on the
equilibrium price and quantity of coal in China. Label the new curve, the new
equilibrium price and the new equilibrium quantity.
(3)

D S
Price
of coal

Pe

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S D

Qe Quantity of coal

Figure 1

DO NOT WRITE IN THIS AREA

4
■■■■

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Study: Pearson
Uploaded on: April 13, 2026
Number of pages: 52
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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Pearson Edexcel International GCSE Economics (4EC1/02R) Question Paper 2 and Mark Scheme 2026

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