EcoHL P2 M04 M

EcoHL P2 M04 M - INTERNATIONAL BACCALAURAT BACHILLERATO c...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
MARKSCHEME May 2004 ECONOMICS Higher Level Paper 2 5 pages M04/330/H(2)M INTERNATIONAL BACCALAUREATE BACCALAURÉAT INTERNATIONAL BACHILLERATO INTERNACIONAL c
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
– 2 – M04/330/H(2)M This markscheme is confidential and for the exclusive use of examiners in this examination session. It is the property of the International Baccalaureate and must not be reproduced or distributed to any other person without the authorization of IBCA.
Background image of page 2
Each question is worth [10 marks] . Award up to the maximum marks indicated. 1. “As price falls the quantity supplied falls. As supply increases price falls.” Use supply and demand analysis to explain why these two statements do not contradict each other. The first part of the statement refers to a movement along the supply curve resulting from a shift of the demand curve to the left and a fall in price. The second part of the statement refers to a shift of the supply curve to the right, a movement along the demand curve and fall in price. Good answers will clearly demonstrate the difference between a shift and a movement along a supply curve and will use suitable, well-labelled diagrams to illustrate this. Allow a maximum of [6 marks] if no diagrams are used (as it is very difficult to answer adequately without diagrams). Allow a maximum of [4 marks] if only one part of the statement is correctly explained; i.e. there is no attempt to explain the seeming contradiction. For full marks, the contradiction should be expressed explicitly.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

EcoHL P2 M04 M - INTERNATIONAL BACCALAURAT BACHILLERATO c...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online