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0455_m26_ms_22 2026 March Economics 0455 Mark Scheme 2 Variant 2 · Cambridge CAIE IGCSE

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0455_m26_ms_222026 March Economics 0455 Mark Scheme 2 Variant 2

This is the official Cambridge mark scheme for Economics (0455) Mark Scheme 2 (Variant 2) from the 2026 March session. Mark schemes show exactly how each mark is awarded, including acceptable alternative answers, required key terms, and common errors that lose marks. Cambridge mark schemes use notation like "allow," "accept," and "do not credit" to define the boundary between full marks and zero.

Also referenced as: 0455_m26_ms_22 · 0455/22/f/m/26 ms · 0455/22 Feb/March 2026 ms

Paper 2: Structured Questions This is Paper 2: Structured Questions, worth 90 marks with a duration of 2h 15m. Section A: 1 compulsory data response question using source material. Section B: choose 3 from 4 structured questions. Step-by-step reasoning is essential.

This mark scheme corresponds to 0455_m26_qp_22. For maximum revision benefit, attempt the question paper under strict exam conditions first, then use this mark scheme to self-assess. Pay attention to the marking notation: "allow" means an alternative is accepted, "do not credit" means a specific phrasing is rejected even if technically correct, and "ORA" (or reverse argument) means the mark can also be earned with the opposite reasoning.

Cambridge mark schemes reward precise language. For Economics (0455), look for keywords the examiner requires — definitions must include specific terms (e.g., "per unit mass," "resultant"), and calculations must show working even if the final answer is correct. Understanding mark scheme conventions helps you write answers that hit every marking point, not just the general idea.

Same paper, other years

Economics (0455) Mark Scheme 2 (Variant 2) from other exam sessions — practise the same paper across the years, then check each one against its mark scheme.

Examiner Insights — Paper 2: Structured Questions

Based on analysis of 3 official Cambridge documents (2023, 2025)

1

Confusing budget deficit with current account deficit

Some candidates confused a government budget deficit with a deficit on the current account of the balance of payments0455 Paper 2, June 2023

How to fix: Budget deficit = government spends more than it receives in tax revenue (fiscal). Current account deficit = a country imports more goods/services than it exports (trade). These are completely different — one is about government finances, the other is about international trade.

4

Explaining consequences when asked for causes (and vice versa)

How to fix: Read the question carefully. 'Explain the causes of inflation' needs factors that LEAD TO inflation. 'Explain the consequences of inflation' needs effects that RESULT FROM inflation. Underline 'causes' or 'consequences' before writing.

5

Jumping analytical stages instead of step-by-step reasoning

candidates do better if they do not jump stages0455 Paper 2, March 2025

How to fix: Show every step in the chain: event → immediate effect → further consequence → final outcome. For example: 'Minimum wage rises → firms' labour costs increase → firms may raise prices → demand for products may fall → unemployment could rise.' Each step earns marks.

View full exam guide for Economics (0455) →

All Economics (0455) Papers — 2026 March

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More Economics (0455) Past Papers

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Economics Exam Guide: How to Score Higher

Top mistakes, scoring patterns & answer frameworks from 3 official Cambridge documents