AS
ECONOMICS
7135/2
Paper 2 The National Economy in a Global Context
Mark scheme
June 2024
Version: 1.0 Final
*246a7135/2/MS*
, MARK SCHEME – AS ECONOMICS – 7135/2 – JUNE 2024
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that every associate understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts. Alternative
answers not already covered by the mark scheme are discussed and legislated for. If, after the
standardisation process, associates encounter unusual answers which have not been raised they are
required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further developed and
expanded on the basis of students’ reactions to a particular paper. Assumptions about future mark
schemes on the basis of one year’s document should be avoided; whilst the guiding principles of
assessment remain constant, details will change, depending on the content of a particular examination
paper.
No student should be disadvantaged on the basis of their gender identity and/or how they refer to the
gender identity of others in their exam responses.
A consistent use of ‘they/them’ as a singular and pronouns beyond ‘she/her’ or ‘he/him’ will be credited in
exam responses in line with existing mark scheme criteria.
Further copies of this mark scheme are available from aqa.org.uk
Copyright information
AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet for their own
internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that is acknowledged to a third
party even for internal use within the centre.
Copyright © 2024 AQA and its licensors. All rights reserved.
2
, MARK SCHEME – AS ECONOMICS – 7135/2 – JUNE 2024
SECTION A
The following list indicates the correct answers used
in marking the students’ responses.
KEY LIST
B D
(Rising national income leads
1 (Output of goods per worker) 11
to an increase in investment)
C
(the proportion of average
C
2 consumer expenditure relating to 12
(£600 000)
restaurants and hotels rose in
2022.)
D D
3 (An increase in savings) 13 (Shortages of skilled labour)
A
B
(A leftward movement along the (The central bank considers
4 14 the government's fiscal policy
short-run aggregate supply curve) when setting Bank Rate)
C B
5 (Falling labour productivity) 15 (1.2)
D
D (An increase in tax rates and
6 (the price level is rising less quickly 16 a reduction in welfare
than previously.) payments to create a budget
surplus)
B A
7 (A reduction in geographical 17 (A change in the pattern of
immobility of labour) economic activity)
D
C (the volume of imports to
8 18
(Point C) Switzerland from the USA is
likely to increase.)
C
(Labour productivity and real
A
9 19 GDP grew more quickly in
(Cyclical)
Country A than Country B
over the period.)
C
(A positive output gap and an C
10 20
increase in demand-pull inflation) (income tax rates.)
Totals
A 3
B 4
C 7
D 6
3
ECONOMICS
7135/2
Paper 2 The National Economy in a Global Context
Mark scheme
June 2024
Version: 1.0 Final
*246a7135/2/MS*
, MARK SCHEME – AS ECONOMICS – 7135/2 – JUNE 2024
Mark schemes are prepared by the Lead Assessment Writer and considered, together with the relevant
questions, by a panel of subject teachers. This mark scheme includes any amendments made at the
standardisation events which all associates participate in and is the scheme which was used by them in
this examination. The standardisation process ensures that the mark scheme covers the students’
responses to questions and that every associate understands and applies it in the same correct way.
As preparation for standardisation each associate analyses a number of students’ scripts. Alternative
answers not already covered by the mark scheme are discussed and legislated for. If, after the
standardisation process, associates encounter unusual answers which have not been raised they are
required to refer these to the Lead Examiner.
It must be stressed that a mark scheme is a working document, in many cases further developed and
expanded on the basis of students’ reactions to a particular paper. Assumptions about future mark
schemes on the basis of one year’s document should be avoided; whilst the guiding principles of
assessment remain constant, details will change, depending on the content of a particular examination
paper.
No student should be disadvantaged on the basis of their gender identity and/or how they refer to the
gender identity of others in their exam responses.
A consistent use of ‘they/them’ as a singular and pronouns beyond ‘she/her’ or ‘he/him’ will be credited in
exam responses in line with existing mark scheme criteria.
Further copies of this mark scheme are available from aqa.org.uk
Copyright information
AQA retains the copyright on all its publications. However, registered schools/colleges for AQA are permitted to copy material from this booklet for their own
internal use, with the following important exception: AQA cannot give permission to schools/colleges to photocopy any material that is acknowledged to a third
party even for internal use within the centre.
Copyright © 2024 AQA and its licensors. All rights reserved.
2
, MARK SCHEME – AS ECONOMICS – 7135/2 – JUNE 2024
SECTION A
The following list indicates the correct answers used
in marking the students’ responses.
KEY LIST
B D
(Rising national income leads
1 (Output of goods per worker) 11
to an increase in investment)
C
(the proportion of average
C
2 consumer expenditure relating to 12
(£600 000)
restaurants and hotels rose in
2022.)
D D
3 (An increase in savings) 13 (Shortages of skilled labour)
A
B
(A leftward movement along the (The central bank considers
4 14 the government's fiscal policy
short-run aggregate supply curve) when setting Bank Rate)
C B
5 (Falling labour productivity) 15 (1.2)
D
D (An increase in tax rates and
6 (the price level is rising less quickly 16 a reduction in welfare
than previously.) payments to create a budget
surplus)
B A
7 (A reduction in geographical 17 (A change in the pattern of
immobility of labour) economic activity)
D
C (the volume of imports to
8 18
(Point C) Switzerland from the USA is
likely to increase.)
C
(Labour productivity and real
A
9 19 GDP grew more quickly in
(Cyclical)
Country A than Country B
over the period.)
C
(A positive output gap and an C
10 20
increase in demand-pull inflation) (income tax rates.)
Totals
A 3
B 4
C 7
D 6
3
