Cambridge International Examinations Cambridge International General Certificate of Secondary Education

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1 * * ambridge International Examinations ambridge International General ertificate of Secondary Education ENMIS 0455/11 Paper 1 Multiple hoice ctober/november 2017 dditional Materials: Multiple hoice nswer Sheet Soft clean eraser Soft pencil (type or H is recommended) 45 minutes RE THESE INSTRUTINS FIRST Write in soft pencil. o not use staples, paper clips, glue or correction fluid. Write your name, entre number and candidate number on the nswer Sheet in the spaces provided unless this has been done for you. NT WRITE IN NY RES. There are thirty questions on this paper. nswer all questions. For each question there are four possible answers,, and. hoose the one you consider correct and record your choice in soft pencil on the separate nswer Sheet. Read the instructions on the nswer Sheet very carefully. Each correct answer will score one mark. mark will not be deducted for a wrong answer. ny rough working should be done in this booklet. This document consists of 10 printed pages and 2 blank pages. I17 11_0455_11/5RP ULES 2017 [Turn over

2 2 1 n oil company announced in 2015 that it was starting its drilling operations for oil deposits in the rctic cean. What will be the effect of this? to increase the supply of raw materials to reduce the level of technology available to solve the economic problem to worsen resource allocation 2 self-employed fortune teller earns a living by reading the palms of people s hands. Which factors of production are essential to this activity? capital and enterprise enterprise and labour labour and land land and capital 3 country is operating at point X on its production possibility curve (PP). drought significantly reduces agricultural output. Which point represents the new position? manufacturing output X agricultural output 4 government needs to decide how much to fine firms for causing the external costs of air pollution in industrial areas. Which external cost would be the most difficult to measure in monetary terms? the discomfort associated with breathing the expenditure on additional healthcare the loss of earnings due to illness the medical research into respiratory disease ULES /11//N/17

3 3 5 What is an example of market failure? city centre congestion low economic growth rising prices trade deficits 6 The table illustrates the demand and supply for coffee in a market in frica. price per kg ($) quantity demanded (kg) quantity supplied (kg) When the price rises from $20 to $30 per kg, what is the price elasticity of demand for coffee? etween 2005 and 2015 the number of late-night music clubs in the UK fell from 3144 to The causes were said to be the increase in the cost to clubs of planning regulations and the increase in alternative ways of meeting people on social media. How would the effect of these causes be shown on a demand and supply diagram for entrance to late-night music clubs? planning regulations movement down the supply curve movement up the supply curve shift of supply curve to left shift of supply curve to right increase in dating websites shift of demand curve to left movement up the demand curve shift of demand curve to left shift of demand curve to right ULES /11//N/17 [Turn over

4 8 job offers employees piecework, commission, paid holidays and a company pension. Which are non-wage factors? 4 commission and company pension company pension and paid holidays paid holidays and piecework piecework and commission 9 When will a trade union be most likely to succeed in achieving the aims of its members? when firms are trying to cut costs of production when the rate of unemployment in the country is high when trade union membership in the industry is compulsory when workers are unskilled 10 The typical pattern of income over a person s whole lifetime is shown by which diagram? income income income income lifetime lifetime lifetime lifetime 11 When choosing an occupation people often consider things other than the wage-rate. What would not be a good match for the type of work that is desired? desired aspect occupation detailed work; career structure lawyer outdoor lifestyle; regular hours farmer part-time hours; work with people supermarket assistant technical knowledge; responsibility telephone engineer 12 Which is an internal diseconomy of scale? a lack of communication in a firm a reduction of cost by buying in bulk a shortage of skilled labour in an area traffic congestion in a particular area ULES /11//N/17

5 13 What is not likely in an industry with many small firms? 5 high capital costs high level of competition low barriers to entry low research expenditure 14 major computer company announced that its profits had fallen below the level predicted. What might have caused this? increased advertising costs that greatly improved sales low prices that made the company s product competitive new technology that reduced costs reduced sales and low prices 15 The diagram shows the fixed costs, variable costs and total costs of a firm. costs T S R Q output t output Q, which distance represents the firm s variable cost? QR QT RT ST 16 What, when increased, will help a government to reduce the rate of inflation? budget deficit consumer spending income tax pensions ULES /11//N/17 [Turn over

6 17 n economy has a deficit on its balance of trade in manufactured goods. Which government policy will reduce this deficit? 6 a decrease in subsidies paid to local manufacturers an increase in interest rates an increase in sales tax on locally manufactured goods an introduction of import duties on manufactured goods 18 The graph shows the percentage of income paid in taxation. Which line represents a proportional tax? % income paid in taxation income 19 What is most likely to decrease when employment increases? economic growth government welfare payments the price level the standard of living 20 Why is the Human evelopment Index (HI) often considered to be better than Gross omestic Product (GP) per head as a measure of living standards? GP per head excludes economic growth. GP per head ignores population growth. HI includes more than the production of goods and services. HI is calculated by the national government. ULES /11//N/17

7 21 n economy is predicted to grow at a rate of 3% during the next year. What is most likely to cause this growth? 7 an increase in expenditure an increase in interest rates an increase in sales (goods and services) tax an increase in the government s budget surplus 22 The diagrams show percentage employment in different sectors in two countries. percentage employed country X percentage employed country Y primary secondary services 0 primary secondary services Which statement is correct when comparing country X and country Y? ountry X employs more workers in secondary industry than country Y. ountry X produces more primary output than country Y. ountry Y is more developed than country X. ountry Y produces more secondary output than country X. 23 Which policy aims to maintain low inflation over a period of time? imposing a minimum wage to be paid to workers reducing interest rates to encourage borrowing restricting the supply of money through the central bank writing off the debts of low-income countries ULES /11//N/17 [Turn over

8 24 What most accurately measures the international purchasing power of a currency? 8 the balance of payments the exchange rate the gross domestic product the rate of inflation 25 The charts show the population structure of a country in 1960 and male age female millions male age female millions What decreased between 1960 and 2015? average age number of people below 15 number of people over 60 total population ULES /11//N/17

9 26 The table gives information about four countries. Which country is likely to be most developed? 9 life expectancy GP per head (US$) % of labour force in agriculture What is a benefit of tariffs? increased choice increased government revenue more competition more trade 28 What is a country said to have if the value of its exported goods exceeds the value of its imported goods? a surplus on its balance of payments a surplus on its balance of trade a surplus on its capital account a surplus on its current account 29 n rgentine product initially sells in the US for $50 when the exchange rate between the two countries is 5 pesos to 1 dollar The exchange rate changes to 10 pesos to 1 dollar and the price of the product remains unchanged in rgentina. What will be the new price of the product in the US? $5 $25 $100 $500 ULES /11//N/17 [Turn over

10 10 30 The UK wants to increase exports to the US. What action will achieve this? borrowing US dollars from international banks devaluing UK pounds against the US dollar placing a quota on imports from the US selling US dollars to buy UK pounds ULES /11//N/17

11 11 LNK PGE ULES /11//N/17

12 12 LNK PGE Permission to reproduce items where third-party owned material protected by copyright is included has been sought and cleared where possible. Every reasonable effort has been made by the publisher (ULES) to trace copyright holders, but if any items requiring clearance have unwittingly been included, the publisher will be pleased to make amends at the earliest possible opportunity. To avoid the issue of disclosure of answer-related information to candidates, all copyright acknowledgements are reproduced online in the ambridge International Examinations opyright cknowledgements ooklet. This is produced for each series of examinations and is freely available to download at after the live examination series. ambridge International Examinations is part of the ambridge ssessment Group. ambridge ssessment is the brand name of University of ambridge Local Examinations Syndicate (ULES), which is itself a department of the University of ambridge. ULES /11//N/17

Cambridge International Examinations Cambridge International General Certificate of Secondary Education

Cambridge International Examinations Cambridge International General Certificate of Secondary Education *2094163331* ambridge International Examinations ambridge International General ertificate of Secondary Education EONOMIS 0455/12 Paper 1 Multiple hoice October/November 2017 dditional Materials: Multiple