0455.2.9.1 — definition of market economic system.: past paper questions
Real questions on 0455.2.9.1 — definition of market economic system.
The newest 12 of 12 written questions. Open one to see it on the real paper.
- 0455/11 · May/June 2024 · Q8[1]
What could not occur in a market economic system?
See it on the paper → - 0455/12 · October/November 2023 · Q4[1]
What are features of a market economy?
See it on the paper → - 0455/23 · October/November 2023 · Q1g[6]
Discuss whether or not privatisation is likely to have benefited consumers in Montenegro.
See it on the paper → - 0455/23 · October/November 2023 · Q3a[2]
Identify two types of economic system.
See it on the paper → - 0455/22 · May/June 2023 · Q2d[8]
Discuss whether or not a market economy allocates resources in the best possible way.
See it on the paper → - 0455/22 · February/March 2022 · Q1c[2]
State two reasons why a foreign MNC may want to operate in Bermuda.
See it on the paper → - 0455/23 · October/November 2020 · Q4b[4]
Explain two benefits consumers may gain from a market economic system.
See it on the paper → - 0455/11 · May/June 2019 · Q12[1]
Which form of integration is this?
See it on the paper → - 0455/12 · May/June 2019 · Q4[1]
Cuba is implementing free market reforms. What is a likely advantage of this?
See it on the paper → - 0455/23 · May/June 2019 · Q6d[8]
Discuss whether or not the operation of a market economic system is harmful to an economy.
See it on the paper → - 0455/22 · February/March 2019 · Q6d[8]
Discuss the advantages and disadvantages of a market economic system.
See it on the paper → - 0455/22 · February/March 2019 · Q7a[2]
Define a market.
See it on the paper →
What examiners said
A few candidates confused a market economy with a mixed economy or a planned economy. Most candidates did write about a market economy but there was a wide spread of performance. Some candidates just stated points, some provided answers that were limited or reasonable on both sides. Others produced answers that were strong on one side and, at least, limited on the other side. An example of a Level...
— Examiner report, May/June 2023, 0455/22 Q2(d) (Cambridge)
This was generally well-answered with the two main reasons being no corporation tax and a high GDP per head.
— Examiner report, February/March 2022, 0455/22 Q1(c) (Cambridge)
A market economic system was understood by most candidates although a few confused it with a system that involved government intervention. Benefits that were commonly identified included, consumer sovereignty, range of choice and low prices. As with other explanation questions, some candidates identified the benefit but then did not explain how consumers gained from it. For example, stating that c...
— Examiner report, October/November 2020, 0455/23 Q4(b) (Cambridge)
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