Pearson Edexcel GCE AS Level In Economics A (8EC0) Paper 02 The UK Economy – Performance and Policies Mark Scheme (Results) Summer 2024

Pearson Edexcel GCE AS Level In Economics A (8EC0) Paper 02 The UK Economy –
Performance and Policies Mark Scheme (Results) Summer 2024




Mark Scheme (Results)

Summer 2024
Pearson Edexcel GCE AS LevelIn
Economics A (8EC0)
Paper 02 The UK Economy – Performance andPolicies




1

,General marking guidance
 All candidates must receive the same treatment. Examiners must mark the lastcandidate in exactly
the same way as they mark the first.
 Mark schemes should be applied positively. Candidates must be rewarded forwhat they have
shown they can do rather than be penalised for omissions.
 Examiners should mark according to the mark scheme – not according to theirperception of where
the grade boundaries may lie.
 All the marks on the mark scheme are designed to be awarded. Examiners should always award full
marks if deserved, i.e. if the answer matches the markscheme. Examiners should also be prepared to
award zero marks if the candidate’s response is not worthy of credit according to the mark scheme.
 Where some judgement is required, mark schemes will provide the principles by which marks will be
awarded and exemplification/indicative content will not be exhaustive.
 When examiners are in doubt regarding the application of the mark scheme to acandidate’s response,
a senior examiner must be consulted before a mark is given.
 Crossed-out work should be marked unless the candidate has replaced it withan alternative
response.




Summer 2024
Question Paper Log Number 72019
Publications Code 8EC0_02_2406_MS
All the material in this publication is copyright
© Pearson Education Ltd 2024




2

, Question Answer Mark
Number
1(a) The only correct answer is A

B is not correct because this is when actual economicgrowth is less
than potential economic growth

C is not correct because this is when actual economicgrowth is
greater than potential economic growth

D is not correct because this is the increase in productivecapacity of the (1)
economy




Question Answer Mark
Number
1(b) Knowledge 1, Application 1, Analysis 1

Knowledge/understanding:
1 mark for identifying one limitation, e.g. does not consider

 exchange rates (1)
 population growth (1)
 presence of informal and unpaid economy (1)
 subsistence, barter and the hidden economy (1)
 income inequality/distribution of income (1)

Application:
1 mark for reference to the information provided for e.g.

 Real GDP increase in developing countries is higherthan
developed countries (1) /
 Difference of 2.9 pp in growth rates (1)
 Reference to own example (1)

Analysis:
1 mark for linked development, e.g.

 Exchange rates might not accurately reflect the differences in
purchasing power of currencies (1)
 Population growth accounts for most of the growthin
developing countries (1)
 Presence of informal and unpaid economy will implythat some
output is unrecorded (1)
 Subsistence, barter and the hidden economy will




3