Mark Scheme (Results)
Summer 2024
Pearson Edexcel GCE AS Level
In Economics A (8EC0)
Paper 01 Introduction to Markets and Market
Failure
,General marking guidance
• All candidates must receive the same treatment. Examiners must mark the last
candidate in exactly the same way as they mark the first.
• Mark schemes should be applied positively. Candidates must be rewarded for
what they have shown they can do rather than be penalised for omissions.
• Examiners should mark according to the mark scheme – not according to their
perception 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 mark
scheme. 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 a
candidate’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 with
an alternative response.
Summer 2024
Question Paper Log Number 72055
Publications Code 8EC0_01_2406_MS
All the material in this publication is copyright
© Pearson Education Ltd 2024
, Question Answer Mark
Number
1(a) Knowledge 1, Application 1, Analysis 1
Explain the distinction between renewable and non-renewable
resources
Knowledge/Analysis
• Renewable resources e.g. can naturally replenish
themselves / will not run out(1)
• Non-renewables e.g. are limited in supply / cannot
be used sustainably (1)
(3)
Application 1
Oil and/or wind power – must be linked to either
renewable or renewable source (1)
Question Answer Mark
Number
1(b)
Knowledge 1
The only correct answer is C
A Is not correct as scarcity not moving along a demand curve (1)
B Is not correct as supply does not exceed demand when an item is
scarce
D Is not correct, there are too few resources to be allocated
Summer 2024
Pearson Edexcel GCE AS Level
In Economics A (8EC0)
Paper 01 Introduction to Markets and Market
Failure
,General marking guidance
• All candidates must receive the same treatment. Examiners must mark the last
candidate in exactly the same way as they mark the first.
• Mark schemes should be applied positively. Candidates must be rewarded for
what they have shown they can do rather than be penalised for omissions.
• Examiners should mark according to the mark scheme – not according to their
perception 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 mark
scheme. 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 a
candidate’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 with
an alternative response.
Summer 2024
Question Paper Log Number 72055
Publications Code 8EC0_01_2406_MS
All the material in this publication is copyright
© Pearson Education Ltd 2024
, Question Answer Mark
Number
1(a) Knowledge 1, Application 1, Analysis 1
Explain the distinction between renewable and non-renewable
resources
Knowledge/Analysis
• Renewable resources e.g. can naturally replenish
themselves / will not run out(1)
• Non-renewables e.g. are limited in supply / cannot
be used sustainably (1)
(3)
Application 1
Oil and/or wind power – must be linked to either
renewable or renewable source (1)
Question Answer Mark
Number
1(b)
Knowledge 1
The only correct answer is C
A Is not correct as scarcity not moving along a demand curve (1)
B Is not correct as supply does not exceed demand when an item is
scarce
D Is not correct, there are too few resources to be allocated
