Suggested Answers of BT2 Revision Package - ASKnLearn

Mark SchemePart (a)Knowledge, Application, Understanding and AnalysisL37-10L24-6L11-3For an answer which• displays depth of economic analysis for most part of the essay • applies accurately to the given context • analyses the effects on both markets For an answer which• contains some economic analysis though not consistently applied throughout • is largely theoretical with limited application to the given context OR• applies sound economic analysis but lacks scope – analysed only one of the goods [cap at 5m] For an answer which• is largely irrelevant with no indication that the meaning of the question has been properly grasp e.g. no application of the PED concept or no links to consumer expenditure • is largely descriptive and/or contains gross conceptual mistakes Part (b)Knowledge, Application, Understanding and AnalysisL39-11L26-8L11-5For an answer which• displays depth of economic analysis for most part of the essay • makes effective use of diagrams and other tools of economic analysis • applies accurately to the given context • analyses both thesis and antithesis arguments • (at the lower end of the mark range) may contain some inaccuracies e.g. explains correctly the relevance of PED but not PES For an answer which• presents both sides of the arguments but • is not consistently analytical throughout, limited in use of the tools of economic analysis such as diagrams • is largely theoretical with limited application to the given context OR• applies sound economic analysis but lacks balance For an answer which• is largely irrelevant with no indication that the meaning of the question has been properly grasp