TAILIEUCHUNG - 2012 Economics Higher Finalised Marking Instructions

Indeed, in a world with constant returns to scale in production, two segregated economies with the same distribution of skills would completely bypass discrimination and would have equal wages and equal returns to other resources, regardless of the desire to discriminate against the segre- gated minorities. Therefore, discrimination by the majority in the market- place is effective because minority members cannot provide various skills in sufficient quantities to companies that would specialize in using these workers | XSQA 2012 Economics Higher Finalised Marking Instructions Scottish Qualifications Authority 2012 The information in this publication may be reproduced to support SQA qualifications only on a non-commercial basis. If it is to be used for any other purposes written permission must be obtained from SQA s NQ Delivery Exam Operations. Where the publication includes materials from sources other than SQA secondary copyright this material should only be reproduced for the purposes of examination or assessment. If it needs to be reproduced for any other purpose it is the centre s responsibility to obtain the necessary copyright clearance. SQA s NQ Delivery Exam Operations may be able to direct you to the secondary sources. These Marking Instructions have been prepared by Examination Teams for use by SQA Appointed Markers when marking External Course Assessments. This publication must not be reproduced for commercial or trade purposes. Economics 2012 Higher SECTION A ITEM A Marks a Define the following terms as used in the passage i real terms For realising that real terms involves a comparison with overall inflation or price rises - one mark. For concluding that cotton prices have become cheaper or fallen behind measured against overall inflation - one mark. 2 ii profit margins For realising that in the context of the passage profits must be under threat or reducing - one mark. For stating that profit margins represent the difference between revenue and costs - one mark. For defining - profit as a percentage of selling price - two marks. Mark up 1 mark . 2 b i Explain one factor that makes the demand for bread piece inelastic. Bread is an essential or necessary - 1 mark and as such most consumers will continue to purchase or still buy similar amounts as the price rises demand falls less than proportionately - 1 mark. Or bread is a low value item or a low percentage of overall spending - 1 mark and these products tend to have low price elasticity because overall the increase

• Kinh tế học
• Steinman discovered
• memory against
• Steinman demonstrated
• Farasan Archipelago
• Saudi Ar
• Island Biogeography