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Mark Scheme (Results)
January 2009

GCE

GCE Economics (6EC01) Paper 01

Edexcel Limited. Registered in England and Wales No. 4496750
Registered Office: One90 High Holborn, London WC1V 7BH

Candidates can be awarded up to 3 marks for explanation even if the incorrect key is used
Candidates can be awarded on maximum of 3 marks for identifying and explaining incorrect options

Question
Number
1

Answer

Mark

A

(1)

• A positive statement is an assertion of a fact / can be proved or disproved / value free (1 mark).
• Statement 1 is positive as it contains something (air quality) which can be tested. (1 mark).
• A normative statement is a value judgement / cannot be tested as true or false (1 mark).
• Statement 2 is normative as it contains the value judgement of
‘unfair’ (1 mark).

6EC01 GCE Economics
0901

2

(3)

Question Answer
Number
2
C

Mark
(1)

• A general understanding of the price mechanism e.g. invisible hand / interaction of supply and demand / allocation of resources (1 mark)
• An increase in demand for a good will lead to a rise in its price (1 mark) which provides an incentive for producers to expand / raise supply / more profits can be made (1 mark)
• Also, a decrease in demand for a good will lead to a fall in its price
(1 mark) and so producers contract / reduce supply /less profits can be made (1 mark).
Also award:
Relevant diagram which shifts the demand curve and shows impact on price and producer supply (up to 2 marks)
Price
S
P1
Pe

D1
D
Qe

Q1

Question Answer
Number
3
B

Mark
(1)

• Definition of producer surplus (the difference between the price producers are willing to supply a good for and the actual market price) (1 mark).
• Annotation of diagram which shows the new area of producer surplus (1 mark)
• Original producer surplus (in winter) is P1YZ (1 mark).
New level of producer surplus is P2XZ (1 mark).

6EC01 GCE Economics
0901

3

(3)