Edexcel IGCSE Economics 1.1.6.d external benefit examples
Practise external-benefit examples by analysing education, healthcare and vaccinations as wider benefits for society or third parties.
- Syllabus
- First assessment 2019
- Course
- Economics 4EC1
Exam points
- Recognise education, healthcare or vaccination as external benefit examples.
- Analyse how education or healthcare creates wider benefits for third parties.
- Evaluate government funding of vaccinations using social benefits and costs.
1.1.6.d Examples of external benefits question 1
[Maximum number: 9]
With reference to the data in 'Who should have the flu injection?' and your knowledge of economics, assess whether the cost to the UK Government of
funding the flu vaccination can be justified.
AO2 and AO3
- Private benefits + external benefits = social benefits
- The flu injection is given to the most vulnerable groups because they are more likely to require further healthcare if they became ill from flu
- This further healthcare would also be a cost to the UK Government, and so it may be cheaper to prevent the problem with the vaccination in the first place
- By reducing the number of people who become ill from the flu, further health care costs may be avoided as there is less risk of the illness spreading
- By keeping people healthy, they are more likely to be able to continue working and contribute to the output of the economy
AO4
- The money spent on the vaccinations could be used for other healthcare needs
- It may be difficult to distinguish between the groups most in need of the vaccination, so not everyone receives the injection
- The vaccination may not work so health care costs may still rise
- It is difficult to quantify the costs and external benefits
- It depends on other factors whether people become ill
Level
Mark
Descriptor
0
No rewardable material.
Level 1
1-3
- Demonstrates basic knowledge and understanding by developing relevant points. Limited application of economic terms, concepts, theories and calculations (AO2).
- Information presented will lack selectivity and organisation. Interpretation of economic information will be limited, with a lack of analysis of issues (AO3).
- Only offers one viewpoint, meaning there is an unbalanced and incomplete evaluation, showing limited understanding and awareness (AO4).
Level 2
4-6
- Demonstrates partial knowledge and understanding by developing relevant points. Partial application of economic terms, concepts, theories and calculations (AO2).
- Information presented will demonstrate some selectivity and organisation. Interpretation of economic information will be good, with some analysis of issues (AO3).
- Offers more than one viewpoint but the argument may lack balance, leading to an evaluation that may not demonstrate full understanding and awareness (AO4).
Level 3
7-9
- Demonstrates clear knowledge and understanding by developing relevant points. Appropriate application of economic terms, concepts, theories and calculations (AO2).
- Information presented will demonstrate excellent selectivity and organisation. Interpretation of economic information will be excellent, with a thorough analysis of issues (AO3).
- Offers more than one viewpoint. The argument is well balanced and coherent, leading to an evaluation that demonstrates full understanding and awareness (AO4).
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