M15/3/ECONO/HP3/ENG/TZ0/XX/M
Markscheme
May 2015
Economics
Higher level
Paper 3
17 pages
, –2– M15/3/ECONO/HP3/ENG/TZ0/XX/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 the IB Assessment Centre.
, –3– M15/3/ECONO/HP3/ENG/TZ0/XX/M
Notes for examiners:
1. Whenever relevant, carry over marks must be awarded. If a candidate makes an error in
calculation, but then uses the incorrect figure appropriately and accurately in later question
parts, then the candidate may be fully rewarded. This is the “own-figure rule” and you should
put OFR on the script where you are rewarding this. To do this you will need to use the
on-page comment annotation tool ( ).
2. Alternative approaches may be taken in responses to the [4] questions that use A02 command
terms. If this is the case and the alternative approaches are valid, then full credit should be
given.
1. (a) (i) On the diagram, draw and label the average revenue curve for Firm A. [2]
For an accurate average revenue curve. [1]
For an accurate, labelled average revenue curve. [1]
Markscheme
May 2015
Economics
Higher level
Paper 3
17 pages
, –2– M15/3/ECONO/HP3/ENG/TZ0/XX/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 the IB Assessment Centre.
, –3– M15/3/ECONO/HP3/ENG/TZ0/XX/M
Notes for examiners:
1. Whenever relevant, carry over marks must be awarded. If a candidate makes an error in
calculation, but then uses the incorrect figure appropriately and accurately in later question
parts, then the candidate may be fully rewarded. This is the “own-figure rule” and you should
put OFR on the script where you are rewarding this. To do this you will need to use the
on-page comment annotation tool ( ).
2. Alternative approaches may be taken in responses to the [4] questions that use A02 command
terms. If this is the case and the alternative approaches are valid, then full credit should be
given.
1. (a) (i) On the diagram, draw and label the average revenue curve for Firm A. [2]
For an accurate average revenue curve. [1]
For an accurate, labelled average revenue curve. [1]
