Unit 4: Developments in the global economy · WEC14/01

Edexcel International A-level Unit 4, January 2022

All 8 written questions and 6 multiple choice questions from Edexcel International A-level Unit 4 (January 2022), Developments in the global economy. Case studies: The economy of Turkey. Each question shows its marks and topic, and opens the question paper and mark scheme at the right page.

Question paperMark schemeExaminer report

Section A

Q31 mark
Which one of the following is the most likely reason for this increase in Denmark's international competitiveness?
  1. AAn increase in its unit labour costs relative to other countries
  2. BAn increase in its transportation costs relative to other countries
  3. CAn increase in its labour productivity relative to other countries
  4. DAn increase in its rate of inflation relative to other countries
Show the answer

The answer is C.

TopicInternational competitiveness

Question paper p.3Mark scheme p.4Examiner report p.5Open in the tool
Q41 mark
Which one of the following is the most likely impact of this change?
  1. AThe Government will receive an additional 2% tax from all workers in Spain
  2. BThe value of Spain's Gini coefficient will fall and the country's Lorenz curve will shift inwards
  3. CThe burden of tax will fall mostly on low income households, as the tax change is regressive
  4. DThere will be an increased incentive for people to set up businesses in Spain
Show the answer

The answer is B.

TopicPoverty and inequality

Question paper p.3Mark scheme p.4Examiner report p.5Open in the tool
Q51 mark
Which one of the following can be deduced from this table?
  1. ANeither country will benefit from specialisation and trade
  2. BCountry X has a comparative advantage over Country Y in the production of bags and shoes
  3. CCountry Y has an absolute advantage over Country X in the production of bags and shoes
  4. DThere is no opportunity cost for either country in producing bags or shoes
Show the answer

The answer is A.

TopicInternational trade, protectionism and trading blocs

Question paper p.4Mark scheme p.5Examiner report p.5Open in the tool

Section B

Case study

The economy of Turkey

Extracts: Figure 1: Central bank base interest rate, January 2018 to December 2020 · Figure 2: Rate of inflation, as measured by the Consumer Price Index (CPI), · Figure 3: Turkish lira-US dollar exchange rate*, January 2018 to December 2020 · Extract A: Currency depreciation · Figure 1: based on data taken from tradingeconomics, 'Turkey interest rate', https://tradingeconomics.com/ · Figure 2: based on data taken from tradingeconomics, 'Turkey inflation rate', https://tradingeconomics.com/

In the extracts: Turkish Lira Exchange Rate', Central Bank's, European Union, Turkey's President, US Dollar, Governor, CPI, Attempts, Currency, Economists

Section C

Question text is quoted from the question papers, © Pearson Edexcel, for students’ private study. Open the official papers and mark schemes from the links on each question. Examiner insights are written with AI assistance and moderated by Finn.