MARK SCHEME – GCSE ECONOMICS – 8136/2 – JUNE
2023
AQA
GCSE
ECONOMICS
8136/2
Paper 2 How the Economy Works
Mark scheme
June 2023
2
, MARK SCHEME – GCSE ECONOMICS – 8136/2 – JUNE
2023
Level of response marking instructions
Level of response mark schemes are broken down into levels, each of which has a descriptor. The
descriptor for the level shows the average performance for the level. There are marks in each level.
Before you apply the mark scheme to a student’s answer read through the answer and annotate it (as
instructed) to show the qualities that are being looked for. You can then apply the mark scheme.
Step 1 Determine a level
Start at the lowest level of the mark scheme and use it as a ladder to see whether the answer meets the
descriptor for that level. The descriptor for the level indicates the different qualities that might be seen in
the student’s answer for that level. If it meets the lowest level then go to the next one and decide if it
meets this level, and so on, until you have a match between the level descriptor and the answer. With
practice and familiarity you will find that for better answers you will be able to quickly skip through the
lower levels of the mark scheme.
When assigning a level you should look at the overall quality of the answer and not look to pick holes in
small and specific parts of the answer where the student has not performed quite as well as the rest. If
the answer covers different aspects of different levels of the mark scheme you should use a best fit
approach for defining the level and then use the variability of the response to help decide the mark within
the level, ie if the response is predominantly level 3 with a small amount of level 4 material it would be
placed in level 3 but be awarded a mark near the top of the level because of the level 4 content.
Step 2 Determine a mark
Once you have assigned a level you need to decide on the mark. The descriptors on how to allocate
marks can help with this. The exemplar materials used during standardisation will help. There will be an
answer in the standardising materials which will correspond with each level of the mark scheme. This
answer will have been awarded a mark by the Lead Examiner. You can compare the student’s answer
with the example to determine if it is the same standard, better or worse than the example. You can then
use this to allocate a mark for the answer based on the Lead Examiner’s mark on the example.
You may well need to read back through the answer as you apply the mark scheme to clarify points and
assure yourself that the level and the mark are appropriate.
Indicative content in the mark scheme is provided as a guide for examiners. It is not intended to be
exhaustive and you must credit other valid points. Students do not have to cover all of the points
mentioned in the Indicative content to reach the highest level of the mark scheme.
An answer which contains nothing of relevance to the question must be awarded no marks.
3
, MARK SCHEME – GCSE ECONOMICS – 8136/2 – JUNE
2023
KEY LIST
B – Where government revenue is greater
01 06 B – Increased UK economic growth
than government expenditure
02 C – Increasing interest rates 07 B – Frictional
03 B – 1.1% 08 C – Increase, Decrease
04 C – Store of value 09 D – Increased UK imports from the USA
05 C – Decreased unemployment benefits 10 A – £1.4 million deficit
Qu Part Marking guidance Total
marks
11 State two factors that may influence the rate of interest charged by banks 2
lending money.
AO1 = 2
Possible answers include:
Bank of England’s ‘base rate’
amount borrowed
length of loan period
inflation
security/collateral offered
existing debt level of customer
credit score of customer or income/employment status of customer.
4
2023
AQA
GCSE
ECONOMICS
8136/2
Paper 2 How the Economy Works
Mark scheme
June 2023
2
, MARK SCHEME – GCSE ECONOMICS – 8136/2 – JUNE
2023
Level of response marking instructions
Level of response mark schemes are broken down into levels, each of which has a descriptor. The
descriptor for the level shows the average performance for the level. There are marks in each level.
Before you apply the mark scheme to a student’s answer read through the answer and annotate it (as
instructed) to show the qualities that are being looked for. You can then apply the mark scheme.
Step 1 Determine a level
Start at the lowest level of the mark scheme and use it as a ladder to see whether the answer meets the
descriptor for that level. The descriptor for the level indicates the different qualities that might be seen in
the student’s answer for that level. If it meets the lowest level then go to the next one and decide if it
meets this level, and so on, until you have a match between the level descriptor and the answer. With
practice and familiarity you will find that for better answers you will be able to quickly skip through the
lower levels of the mark scheme.
When assigning a level you should look at the overall quality of the answer and not look to pick holes in
small and specific parts of the answer where the student has not performed quite as well as the rest. If
the answer covers different aspects of different levels of the mark scheme you should use a best fit
approach for defining the level and then use the variability of the response to help decide the mark within
the level, ie if the response is predominantly level 3 with a small amount of level 4 material it would be
placed in level 3 but be awarded a mark near the top of the level because of the level 4 content.
Step 2 Determine a mark
Once you have assigned a level you need to decide on the mark. The descriptors on how to allocate
marks can help with this. The exemplar materials used during standardisation will help. There will be an
answer in the standardising materials which will correspond with each level of the mark scheme. This
answer will have been awarded a mark by the Lead Examiner. You can compare the student’s answer
with the example to determine if it is the same standard, better or worse than the example. You can then
use this to allocate a mark for the answer based on the Lead Examiner’s mark on the example.
You may well need to read back through the answer as you apply the mark scheme to clarify points and
assure yourself that the level and the mark are appropriate.
Indicative content in the mark scheme is provided as a guide for examiners. It is not intended to be
exhaustive and you must credit other valid points. Students do not have to cover all of the points
mentioned in the Indicative content to reach the highest level of the mark scheme.
An answer which contains nothing of relevance to the question must be awarded no marks.
3
, MARK SCHEME – GCSE ECONOMICS – 8136/2 – JUNE
2023
KEY LIST
B – Where government revenue is greater
01 06 B – Increased UK economic growth
than government expenditure
02 C – Increasing interest rates 07 B – Frictional
03 B – 1.1% 08 C – Increase, Decrease
04 C – Store of value 09 D – Increased UK imports from the USA
05 C – Decreased unemployment benefits 10 A – £1.4 million deficit
Qu Part Marking guidance Total
marks
11 State two factors that may influence the rate of interest charged by banks 2
lending money.
AO1 = 2
Possible answers include:
Bank of England’s ‘base rate’
amount borrowed
length of loan period
inflation
security/collateral offered
existing debt level of customer
credit score of customer or income/employment status of customer.
4
