DP Economics
Question 23M.1.HL.TZ2.2a
| Date | May 2023 | Marks available | [Maximum mark: 10] | Reference code | 23M.1.HL.TZ2.2a |
| Level | HL | Paper | 1 | Time zone | TZ2 |
| Command term | Explain | Question number | a | Adapted from | N/A |
a.
[Maximum mark: 10]
23M.1.HL.TZ2.2a
(a)
Explain two economic costs of high unemployment.
[10]
Markscheme
Refer to Paper 1 markbands for May 2022 forward, available under the "My tests" tab > supplemental materials.
Answers may include:
- Terminology: unemployment.
- Explanation: of any two economic costs such as a loss of real output; higher spending and lower tax revenues for the government with the possibility of a larger budget deficit/ a smaller budget surplus; a more unequal distribution of income; costs to the government of dealing with social problems caused by unemployment; unemployed people may have difficulty finding work in the future; specific problems related to the type of unemployment, eg structural or cyclical.
- Diagram: any relevant diagram related to the particular cost being explained, eg use of a PPC diagram or an AD/AS diagram.
A maximum of [6] may be awarded if only one cost is explained.
Assessment Criteria
Part (a) 10 marks
Examiners report
This was by far the most popular question on the paper. There were many good responses and this is obviously an area of the syllabus for which candidates were well prepared. Candidates were usually able to identify two economic costs associated with unemployment. Weaker responses identified non economic costs. Some candidates wrote a lot about unemployment in general without adequately addressing the question.
