This is a teaching markscheme written for the practice paper on this site. It follows the familiar level-descriptor shape so it is usable in a classroom, but the descriptors are my own wording, not the examining board's. Official markschemes are copyright and are not reproduced here.
本评分方案为本站练习卷自编，采用常见的等级描述格式， 但描述语为自行撰写，非考试局原文。正式评分方案受版权保护，此处不予转载。
Align it with the current subject guide before using it for anything that counts.
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not meet a standard described below. | 0 |
| 1 | Vague definition. The idea that it is a limit on quantity. 含糊的定义：数量上的限制。 | 1 |
| 2 | Accurate definition. An understanding that it is a government-imposed limit on the quantity that may be supplied or issued, AND one of:
| 2 |
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not meet a standard described below. | 0 |
| 1 | Vague definition. The idea that costs fall as output rises. 含糊的定义：产量增加时成本下降。 | 1 |
| 2 | Accurate definition. An understanding that it is a fall in long-run average cost as the scale of output increases, AND one of:
| 2 |
Reward "average cost per unit" as equivalent to average cost. Do not reward a response that only says "costs fall" without reference to output or scale — that is Level 1.
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not meet a standard described below. | 0 |
| 1 | For sketching a business cycle diagram where expansion and contraction are not shown or are incorrectly identified. OR for a correctly labelled diagram indicating expansion or contraction, but with some labels missing or incorrect. | 1 |
| 2 | For indicating both periods but with some labels missing or incorrect. OR for a correctly labelled diagram indicating expansion or contraction. | 2 |
| 3 | For a correctly labelled business cycle diagram indicating a period of expansion AND a period of contraction. | 3 |
A wave fluctuating around a rising trend line. Horizontal axis: time (or years). Vertical axis: real GDP (or output, real income, economic activity).
If the vertical axis is labelled, the curve itself need not be; and vice versa. A title is not required. Abbreviations are acceptable. Accept "boom/recovery" for expansion and "recession/downturn/slump" for contraction.
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not meet a standard described below. | 0 |
| 1 | There is a correct diagram OR an accurate written response. | 1–2 |
| 2 | There is a correct diagram AND an accurate written response. | 3–4 |
Demand and supply with a second supply curve S(subsidy) below and parallel to S, and an area marked showing the total cost to the government. The area may be shaded, lettered, or referred to in the writing rather than drawn.
Reducing the subsidy means the government pays less per unit / absorbs less of producers' costs, so total government spending on the scheme falls (Table 3: RMB 32bn → 11bn), freeing funds for other uses. The supply curve shifts back towards S, raising price and lowering quantity.
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not meet a standard described below. | 0 |
| 1 | There is a correct diagram OR an accurate written response. | 1–2 |
| 2 | There is a correct diagram AND an accurate written response. | 3–4 |
MPB above MSB (MSB = MPB − external cost), with MSC = MPC. Market equilibrium at Qmarket where MPB = MPC, social optimum at Qoptimum where MSB = MSC, with Qmarket > Qoptimum and the welfare loss triangle between them identified.
Driving imposes costs on third parties — congestion for other road users and air pollution for people who do not drive (Text B, paragraph 2). Private drivers consider only their private benefit, so consumption exceeds the socially optimal level. For every unit between the two quantities, MSC exceeds MSB, and the sum of that gap is the welfare loss.
Accept a negative externality of production diagram only if the candidate's explanation is consistent with it throughout. Congestion and local air pollution from driving are most naturally treated as consumption externalities.
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not meet a standard described below. | 0 |
| 1 | There is a correct diagram OR an accurate written response. | 1–2 |
| 2 | There is a correct diagram AND an accurate written response. | 3–4 |
Domestic demand and supply for the EU market with a horizontal world supply curve Sworld, and Sworld+tariff above it. Price rises from Pw to Pw+t; domestic production rises, domestic consumption falls, and the quantity imported falls — imports shown as the gap between the two.
The tariff (Table 3: 10% → 35.3%) raises the price of imported Chinese EVs in the EU. Quantity demanded of imports falls, both because total EU consumption falls and because EU producers supply more at the higher price. Text C notes producers may absorb part of the tariff by cutting prices, which limits the fall.
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not meet a standard described below. | 0 |
| 1 | There is a correct diagram OR an accurate written response. | 1–2 |
| 2 | There is a correct diagram AND an accurate written response. | 3–4 |
Market for CNY. Vertical axis: the exchange rate, price of CNY in terms of another currency (e.g. EUR per CNY). Horizontal axis: quantity of CNY. Demand shifts right from D to D1, raising the equilibrium exchange rate — an appreciation.
Foreign buyers must obtain yuan to pay for Chinese vehicles (Text C, paragraph 2), so rising export demand increases demand for CNY and the currency appreciates, other things equal.
Accept the axis labelled as the price of CNY in any named foreign currency. Do not require the candidate to reconcile this with Table 3, which shows CNY per EUR rising over the period — that is a movement in the opposite direction and is properly a point for part (g).
| Level | Descriptor | Marks |
|---|---|---|
| 0 | The work does not reach a standard described below. | 0 |
| 1 | Little relevant knowledge. Economic terms are absent or used incorrectly. No use of the text or data. No evaluation. | 1–3 |
| 2 | Some relevant knowledge, but description rather than analysis. Limited use of terminology. Occasional reference to the text or data. Evaluation is asserted rather than argued. | 4–6 |
| 3 | Relevant knowledge applied to the case. Some analysis, though chains of reasoning are incomplete. Text and data used, but not consistently. Some evaluation, with reasons given. | 7–9 |
| 4 | Accurate, well-applied knowledge. Clear analysis with developed chains of reasoning. Effective and consistent use of the text and data. Balanced evaluation, though the judgement may be underdeveloped. | 10–12 |
| 5 | As Level 4, and the evaluation is sustained throughout rather than appended. Assumptions and the limitations of the data are recognised, and the response reaches a reasoned, supported judgement. | 13–15 |
Not more points. A Level 4 response argues both sides well and stops. A Level 5 response weighs them — says which consideration matters most and why, states what would have to be true for the opposite conclusion to hold, and notices where the data cannot settle the question. The judgement has to be earned by the analysis above it, not announced in a final sentence.
For bilingual classrooms