Pearson Edexcel GCE In Economics B

Mark Scheme (Results) Summer 2024 Pearson Edexcel GCE In Economics B (9EB0) Paper 1: Markets and how they work Edexcel and BTEC Qualifications Edexcel and BTEC qualifications are awarded by Pearson, the UK’s largest awarding body. We provide a wide range of qualifications including academic, vocational, occupational and specific programmes for employers. For further information visit our qualifications websites at or . Alternatively, you can get in touch with us using the details on our contact us page at Pearson: helping people progress, everywhere Pearson aspires to be the world’s leading learning company. Our aim is to help everyone progress in their lives through education. We believe in every kind of learning, for all kinds of people, wherever they are in the world. We’ve been involved in education for over 150 years, and by working across 70 countries, in 100 languages, we have built an international reputation for our commitment to high standards and raising achievement through innovation in education. Find out more about how we can help you and your students at: November 2021 Question Paper Log Number 80957 Publications Code 9EB0_01_2406_MS All the material in this publication is copyright © Pearson Education Ltd 2021 General Marking Guidance • All candidates must receive the same treatment. Examiners must mark the first candidate in exactly the same way as they mark the last. • Mark schemes should be applied positively. Candidates must be rewarded for what they have shown they can do rather than penalised for omissions. • Examiners should mark according to the mark scheme not according to their perception of where the grade boundaries may lie. • There is no ceiling on achievement. All marks on the mark scheme should be used appropriately. • All the marks on the mark scheme are designed to be awarded. Examiners should always award full marks if deserved, i.e. if the answer matches the mark scheme. Examiners should also be prepared to award zero marks if the candidate’s response is not worthy of credit according to the mark scheme. • Where some judgement is required, mark schemes will provide the principles by which marks will be awarded and exemplification may be limited. • When examiners are in doubt regarding the application of the mark scheme to a candidate’s response, the team leader must be consulted. • Crossed out work should be marked UNLESS the candidate has replaced it with an alternative response. Question Number Explain one reason why an increase in market share might be an important business objective for TUI. Mark 1(a) Knowledge/Understanding 1, Application 2 Analysis 1 Knowledge/Understanding: up to 1 mark for explaining a reason e.g. • It can gain economies of scale (1) Application: up to 2 marks are available for contextualised answers, e.g. • TUI can spread its fixed costs over more passengers (1) • TUI has lost market share to Jet2holidays and wants to be market leader (1) Analysis: Up to 1 mark available for developing the reason. • Reducing average costs could allow TUI to lower prices thereby gaining a competitive advantage over its rivals (1) (4) Question Number Using a supply and demand diagram, illustrate the impact on the market for global travel after travel restrictions have been removed for consumers. Mark 1(b) Knowledge/Understanding 2, Application 1, Analysis 1 Knowledge/Understanding: up to 2 marks for: constructing supply and demand curves correctly and for labelling the axes with price and quantity (1) correctly showing original equilibrium price and quantity P and Q (1) Application: 1 mark for correctly interpreting the shift in the demand curve to the right (1) Analysis: 1 mark is available for showing the new equilibrium and the consequences on the price and quantity axes P1 and Q1 (1) (4) Question Number Using Extract B, calculate to two decimal places, the operating profit margin for TUI in Q3 2023. You are advised to show your working. Mark 1(c) Knowledge/Understanding 1, Application 3, Knowledge/Understanding: 1 mark for the correct formula for operating profit margin: Operating profit x 100 (1) Revenue Application: Up to 3 marks for calculations €52.5m (1) x100 €5 286.0m (1) = 0.99% (1) NB if no working is shown award marks as below: If the answer given is 0.99% award 4 marks If the answer given is 0.99 award 3 marks (4)