Economics · May / June 2024 · Paper 21 · Question 2

0455

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In recent years, the mobility of labour, the number of women in the labour force and GDP have increased in Bangladesh. In 2019, the central bank of Bangladesh approved three new commercial banks. In that year, women on average earned 77% of the pay of men in Bangladesh. The country’s economy experienced the world’s seventh highest economic growth rate, with an increase in GDP of 7.4%.

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2(a)[2]
Identify two influences on the mobility of labour. Two from:
age
skills / training
qualifications / level of education
price / availability of housing
cost of living /level of income
family ties
information on vacancies
disabilities / access
quality / cost of transport
distance to place of work
discrimination 2 Only accept these answers if within the first three influences mentioned.
2(b)[4]
Explain two benefits that consumers may gain from having more commercial banks. Logical explanation which might include: More choice / competition (1)
greater range of services / better quality of services / lower bank charges (1). Lower interest rate charged on loans / higher interest paid on savings (1)
due to higher competition (1). May be easier to obtain a loan (1)
which may increase the products consumes can buy (1). May be more convenient (1)
closer to home / less time travelling / more likely to be able to speak to a person (1). 4 One mark each for each of two benefits identified and one mark for each of two explanations. Mark
2(c)[6]
Analyse why women may be paid less than men. Coherent analysis which might include: Women may be less skilled (1)
have fewer qualifications (1)
and so be less productive (1)
if they have received less education / training (1)
may have less bargaining strength than men (1). Fewer women may be in promoted posts (1)
if they have taken time off to raise children / maternity leave / may have less experience (1). Women may be concentrated in low paying occupations / industries (1)
example e.g. clothes manufacture (1)
may only want part-time jobs (1)
because of family commitments (1). Discrimination (1)
some employers may underestimate / undervalue the productivity of women (1)
there may be no law or an ineffective law against discrimination (1)
example e.g. tv presenters / football (1). Lower demand / higher supply in some occupations (1)
due to lower revenue / value of product (1). 6 Allow the counter argument on why men may be paid more than women. Mark
2(d)[8]
Discuss whether or not people living in countries with a high GDP enjoy higher living standards than people in countries with a low GDP. In assessing each answer, use the table opposite. Why they might:
may be able to afford better standard of housing
may be able to afford better nutrition and healthcare which can increase life expectancy
higher incomes enable more and greater quality of products to be purchased
may be able to afford better education which may enable them to gain more interesting jobs with better working conditions. Why they might not:
high GDP does not necessarily mean that GDP per head is high and so incomes could be low
income may be unevenly distributed, and some people may be living in poverty
may have a large informal sector so GDP under-records income
countries with higher GDP may also have higher price levels
people may work long hours and so enjoy little leisure and may be stressed
there may be pollution and traffic congestion
people’s wants for goods and services may grow at a faster rate than their income – the more people have, the more they may want. See Guidance table at the end of the mark scheme. Mark

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