0455_s10_ms_22.pdf

UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June 2010 question paper for the guidance of teachers 0455 ECONOMICS 0455/22 Paper 22 (Structured Questions), maximum raw mark 80 This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate the details of the discussions that took place at an Examiners’ meeting before marking began, which would have considered the acceptability of alternative answers. Mark schemes must be read in conjunction with the question papers and the report on the examination. ? CIE will not enter into discussions or correspondence in connection with these mark schemes. CIE is publishing the mark schemes for the May/June 2010 question papers for most IGCSE, GCE Advanced Level and Advanced Subsidiary Level syllabuses and some Ordinary Level syllabuses. www.XtremeP Page 2 Mark Scheme: Teachers’ version Syllabus Paper IGCSE – May/June 2010 0455 22 ? UCLES 2010 1 (a) Idea of a downswing/downturn in a business or trade cycle. Economic growth will be negative. Rising unemployment/job losses. Idea of a period of time (technically two successive quarters of negative growth, but we shouldn’t expect candidates to be this precise). [2] (b) Productivity refers to output per factor or input, such as output per worker (1), per period of time (1). A vague comment on an increase in production/output should get no marks. [2] (c) They have a separate legal existence from their owners. They are owned by shareholders. The owners have limited liability. They have plc after their names. Shares can be traded on a stock exchange. The directors must report on the progress of the company to the shareholders at an AGM. A maximum of 2 m