Qualification > Commerce
Econ Paper 1 doubts!
ni:
--- Quote from: hmh on June 10, 2009, 11:22:06 am ---
--- Quote from: ni on June 10, 2009, 10:41:26 am ---I heard there is no Core Economics paper this year though...
is that not true?
--- End quote ---
Yes they removed core/extended now.. its ok paper 1 now both for core/extended.. Time : 45 mins, questions : 30.
--- End quote ---
Lol I was going to do extended anyways but I wonder if there is a possibility that the paper would be easier then. Or maybe it was just that there weren't enough people giving core in past years.
aquarian93:
--- Quote from: hmh on June 10, 2009, 11:21:07 am ---
--- Quote from: aquarian93 on June 10, 2009, 09:42:17 am ---i dont understand sum questions in
may 2007 paper 1
questions 6, 14, 32, 33, 35, 36.
the answers are respectively, D, A, B, B, A, D according to the mark scheme.
cn anyone explain them to me? :(
thank youuu
--- End quote ---
Question 6... its D because.. if theres recession means incomes wud be less.. so surely trade unions cant demand for higher wages. then.. more competition in market means more avaliablity of supply.. so tht wouldnt help them to influence their demands.. then few demand for products mean less sales revenue.. so cant pay high wages? so only left is D.
Question 14.. as the price rise for private.. the demand falls as a result so shift to left first of all. now chances are A or D... ok as a result of fall in demand.. they supply will decrease too.. to bring bak to equib. so its A.
Question 33 its B because if u look at others.. u will find tht their life expentancy is quite high.. which is a country tht is developed... then B also has high birth rates.. this tells us tht its standards of living are not so high and its developing country.
Question 35 .. its simply A.. because EU and G8 countries are developed and they lent money to African countries.. and now they decide to cancle the take-back of money.. so they are in other words transfering.
Question 36 .. reduction of quota means now less can be imported.. high quota = 35,000 goods... low quota = 10,000 goods.. so less imports mean less deficit.. cant be A.., ok the gud cant be cheaper as its not tariff thts being removed.. cant be B.. ok the goverment revenue wont decline as if less imported.. means more locally purchased so more VAT so more tax revenue for gov. yes gov revenue will decline but of the country tht the good/service is imported from.
:)
--- End quote ---
omg hmh, thank you so much :)
it just struck me dat coincidentally u always me out, thanks :)
+rep
(wish i could do a 100, bt sadly, the karma thing)
xxemoxx:
The price of a good is temporarily above the market equilibrium price.
What must happen for the market to be brought back to equilibrium?
quantity demanded quantity supplied
A rises rises
B rises falls
C falls rises
D falls falls
It came in M/J 2006 Q#9
can anybody explain me :)?
hmh:
--- Quote from: xxemoxx on June 10, 2009, 01:51:30 pm ---The price of a good is temporarily above the market equilibrium price.
What must happen for the market to be brought back to equilibrium?
quantity demanded quantity supplied
A rises rises
B rises falls
C falls rises
D falls falls
It came in M/J 2006 Q#9
can anybody explain me :)?
--- End quote ---
I explained the same question early.. lemme find the thread.
hmh:
--- Quote from: hmh on June 10, 2009, 02:23:31 pm ---
--- Quote from: xxemoxx on June 10, 2009, 01:51:30 pm ---The price of a good is temporarily above the market equilibrium price.
What must happen for the market to be brought back to equilibrium?
quantity demanded quantity supplied
A rises rises
B rises falls
C falls rises
D falls falls
It came in M/J 2006 Q#9
can anybody explain me :)?
--- End quote ---
I explained the same question early.. lemme find the thread.
--- End quote ---
it was my own thread lol.. anyways, to decrease the price.. we must increase the demand...so does we decrease the quantity supplied.. so the answer is B.
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