Pearson Edexcel GCE A Level In Economics A (9EC0)
Paper 03 Micro and Macro Economics
Pearson: helping people progress, everywhere
Pearson aspires to be the world’s leading learning company. Our aim is to help everyone progress in their lives through education. We believe in every ki...
Pearson Edexcel GCE A Level
In Economics A (9EC0)
Paper 03 Micro and Macro Economics
Summer 2024
,Summer 2024
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● All candidates must receive the same treatment. Examiners must mark
the first candidate in exactly the same way as they mark the last.
● Mark schemes should be applied positively. Candidates must be
rewarded for what they have shown they can do rather than penalised
for omissions.
● Examiners should mark according to the mark scheme not according to
their perception of where the grade boundaries may lie.
● There is no ceiling on achievement. All marks on the mark scheme
should be used appropriately.
● 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 may be
limited.
● When examiners are in doubt regarding the application of the mark
scheme to a candidate’s response, the team leader must be consulted.
● Crossed out work should be marked UNLESS the candidate has
replaced it with an alternative response.
Summer 2024
, Summer 2024
Question Answer Mark
Number
1(a) Knowledge 2, Application 2, Analysis 1
Knowledge/implicit understanding and analysis:
up to 3 marks e.g.
● The percentage change in quantity demanded
is less responsive to a change in price (1)
● Is relatively low e.g. between 0 and -1 (or 0 and 1)
/ PED<1 (1)
● Diagram showing price inelastic demand (1)
● An increase in price will result in an increase in total
revenue (1)
● Reference to a characteristic e.g necessity,
small proportion of income, few substitutes (1)
Application: up to 2 marks e.g.
● UK consumers use gas for 85% of central
heating/’are some of the biggest user of gas’ (1)
● Gas generates a third of UK electricity (1)
● There is no substitute for energy, at least in the
short run (1)
● Calculation of price change as percentage
or percentage points (1)
● Rise from around 50p per therm in Feb 2021 to
352p per therm in Dec 2021 (1) (5)
● ‘An almost perfect example of price
inelastic demand’ (Extract A lines 7-8)
Question Answer Mark
Number
Summer 2024
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