Mark Scheme - Q1

Level 1 – few if any issues recognised, not well applied to economic concepts, some general understanding of low inflation, unemployment and phillips curve – 0-3 marks

Level 2 – Recognise at least one concept and attempts to apply key terms and knowledge to the answer. Limited analysis. No evaluation. 4-6 marks

Level 3 – Identify at least two relevant issues. Arguments are analysed and come to a conclusion. 7-10 marks

Level 4 – Shows a good understanding of different points of view, prepares a well structured and supported argument. 11-13 marks

Level 5 – Good evaluation of the different factors supported by evidence presented in an ordered and logical way. 14-15 marks