1 mark
Q1(a) Multiple choice completing what the International Labour Organisation measures.
Edexcel · 4EC1
All 23 questions from the Edexcel iGCSE Paper 2, Nov 2020 Economics paper (4EC1), worth 80 marks in total. The main topics tested are Unemployment (3), Economic growth (2), Fiscal policy (2), Trade protection (1).
Each question is summarised in our own words with its mark tariff, command word and specification point, and links through to the official paper.
Mark scheme → Examiner report → Open in the searchable bank →
Q1(a) Multiple choice completing what the International Labour Organisation measures.
Q1(b) Multiple choice naming the protection method that lowers export prices.
Q1(c) Give the meaning of gross domestic product.
Q1(d) Set out one benefit of economic growth.
Q1(e) Work out the 2018 inflation rate to 2 d.p. from the figures given.
Q1(f) Diagram question: label the three stages of the economic cycle.
Q1(g) Give one reason someone might choose voluntary unemployment.
Q1(h) Data response: how cheaper transport has driven globalisation.
Q2(a) Multiple choice picking the diagram showing a market after tariffs are introduced.
Q2(b) Multiple choice naming the supply-side policy that removes government controls.
Q2(c) Name one drawback of free trade.
Q2(d) Give the meaning of an exchange rate.
Q2(e) Give one reason a weaker euro improved Germany's current account.
Q2(f) Give one way privatisation could raise airport productivity.
Q2(g) Data response: benefit payments as a way of redistributing income - Canada case.
Q3(a) Multiple choice on the trade-off that comes with faster growth.
Q3(b) Multiple choice naming the tax that takes a rising share as income grows.
Q3(c) Give one benefit to Indonesia of foreign multinationals owning palm oil plantations.
Q3(d) Data response: what a recession does to unemployment - Italy case.
Q3(e) Data response: how far monetary policy can lift growth - China case.
Q4(a) Work out Estonia's fiscal surplus or deficit in EURm for 2018.
Q4(b) Data response: how fiscal policy could hold Estonian inflation down.
Q4(c) Data response: weigh up public transport subsidies as environmental protection.
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