IGCSE/GCSE/O & A Level/IB/University Student Forum
Qualification => Subject Doubts => IGCSE/ GCSE => Commerce => Topic started by: hmh on June 04, 2009, 11:41:02 am
-
QUESTIONS, DISCUSSIONS START ON PAGE 10 OF THIS TOPIC.
Scroll down for revision guides...!
Also, Here are some revision links for economics help:
http://www.tutor2u.net
http://economics.about.com/
http://www.dineshbakshi.com/economics/
Specimen Papers 2009 Added
Till then Take Care and GUD LUCK!
Hope tht helps! :)
-
Here are all the attachments of notes to start with.
Hope tht helps!
-
Here are all the attachments of notes to start with.
Hope tht helps!
-
Here are all the attachments of notes to start with.
Hope tht helps!
-
guys i got year 10 economics test tomorow
what past papers should i do
-
guys i got year 10 economics test tomorow
what past papers should i do
I think you should do 2008 june and november. Thats most likely going to show up ;). GUD LUCK! And yea remember.. practise makes perfect..so dnt jst rely on 1 paper.. look over more!
-
So guys.. hows the revision for economics then?... hopefully very well. I guess most of you are busy with Biology. Jst wanna say GUD LUCK TO U ALL!!!!!!
-
Hey guys.. I had many people asking for "how to calculate RPI AND CPI".. its one of the most important questions in exam... about 7-10 marks. So here.. attaching the file.
-
Hey guys.. I had many people asking for "how to calculate RPI AND CPI".. its one of the most important questions in exam... about 7-10 marks. So here.. attaching the file.
if your a girl..i love you.
if your a boy..thankyou
lmao.
jke
-
Hey guys.. I had many people asking for "how to calculate RPI AND CPI".. its one of the most important questions in exam... about 7-10 marks. So here.. attaching the file.
if your a girl..i love you.
if your a boy..thankyou
lmao.
jke
loool.. if u were a girl.. i wud thank u.. but ur a boy and m a boy too.. so i wud say my pleasure :)
-
Hey guys.. hows everything going so far? Hopefully everyone feeling positive abt the exam coming up! Ask out any questions or problems u got.. I'm more than happy to help :)
-
Has anyone bothered making a sort of 'list' for questions that come up regularly?
-
Has anyone bothered making a sort of 'list' for questions that come up regularly?
lol.. i dnt think anyone has " bothered".. but thx for the idea.. i will make and post it today and u can hav a look!
Hope tht wil help. GUd Luck!
-
hi, does actual economic growth take inflation into account? Thank You :S
-
real growth or real GDP takes inflation into account
-
hi, does actual economic growth take inflation into account? Thank You :S
nid's right. Also, Over time, the growth in GDP causes inflation, and inflation begets hyperinflation. Once this process is in place, it can quickly become a self-reinforcing feedback loop. This is because in a world where inflation is increasing, people will spend more money because they know that it will be less valuable in the future. This causes further increases in GDP in the short term, bringing about further price increases. Also, the effects of inflation are not linear; 10% inflation is much more than twice as harmful as 5% inflation.
Hope tht helps :)
-
Has anyone bothered making a sort of 'list' for questions that come up regularly?
lol.. i dnt think anyone has " bothered".. but thx for the idea.. i will make and post it today and u can hav a look!
Hope tht wil help. GUd Luck!
Wow, thanks! Lol, I didn't mean bothered exactly :P Just that it seems like the questions are repeats but still the mark schemes sometimes changes and all.
-
Has anyone bothered making a sort of 'list' for questions that come up regularly?
lol.. i dnt think anyone has " bothered".. but thx for the idea.. i will make and post it today and u can hav a look!
Hope tht wil help. GUd Luck!
Wow, thanks! Lol, I didn't mean bothered exactly :P Just that it seems like the questions are repeats but still the mark schemes sometimes changes and all.
yea dnt worry m8.. will be posting it soon too. GUD LUCK
-
hi, does actual economic growth take inflation into account? Thank You :S
nid's right. Also, Over time, the growth in GDP causes inflation, and inflation begets hyperinflation. Once this process is in place, it can quickly become a self-reinforcing feedback loop. This is because in a world where inflation is increasing, people will spend more money because they know that it will be less valuable in the future. This causes further increases in GDP in the short term, bringing about further price increases. Also, the effects of inflation are not linear; 10% inflation is much more than twice as harmful as 5% inflation.
Hope tht helps :)
Thanks guys just getting all my definitions together :D
-
can someone tell me the difference By the way inelastic demand and elastic demand, inelastic price and elastic price.
Thanks
-
can someone tell me the difference By the way inelastic demand and elastic demand, inelastic price and elastic price.
Thanks
Inelastic demand: When the demand doesnt change or is less than 0.5% when price changes. Usually it doesnt matter how much the price change but the demand wont fall. E.g. Oil, Water.. these are essential things. essential goods and services.
Elastic demand: Opposite of the inelastic.. when price changes the demand change is above 1%. These are luxury items like cars, mobiles.
It is calculated by %change in quantity demanded / % change in price
Inelastic Price and Elastic price is not really mentioned but it refers to the elastic and inelastic demand.. so u can mention it there..
Hope tht helps :)
-
Full revision Guide has been added to the 1st page. Hope it is useful :)
-
does the revision guide cover everything..that means that i dont have to go thru the boook.
or theres still somethin to add in that guide.
Thanks By the way
Really appreciate it
-
does the revision guide cover everything..that means that i dont have to go thru the boook.
or theres still somethin to add in that guide.
Thanks By the way
Really appreciate it
well.. overall it does try to cover everything... but i guess you should look through topics tht you think are not well explained in the book... dnt leave anything on risk .. thts best tip i can give lol.. Gud luck :)
-
Thanks for revision guide!
-
Where can i get the revision guide??
-
can someone tell me the difference By the way inelastic demand and elastic demand, inelastic price and elastic price.
Thanks
Inelastic demand: When the demand doesnt change or is less than 0.5% when price changes. Usually it doesnt matter how much the price change but the demand wont fall. E.g. Oil, Water.. these are essential things. essential goods and services.
Elastic demand: Opposite of the inelastic.. when price changes the demand change is above 1%. These are luxury items like cars, mobiles.
It is calculated by %change in quantity demanded / % change in price
Inelastic Price and Elastic price is not really mentioned but it refers to the elastic and inelastic demand.. so u can mention it there..
Hope tht helps :)
i think you meant less than 1 not less than 0.5 % !!
-
i just have a couple of questions, what do we have TO KNOW for these topics? just tell me, no need to explain or send anything
- describe and evaluate the effects of changes in structure of business organisations
- describe what determines demand for FACTORS OF PRODUCTION
- describe the allocation of resources in market and mixed economic systems
do they mean the 3 fundemental qs or something?
and can someone please explain me those points, i know theyre a lot, but i really need help :(
- analyse the different motives for SPENDING, saving and BORROWING
- discuss how and why different income groups have different expenditure patterns (spending, saving, borrowing)
- describe the main reasons for the different sizes of firms
this should keep the forum active for some time! im sorry if im asking too many questions :( :-[
thank you
-
3 mark definition for economic growth anyone??
-
i just have a couple of questions, what do we have TO KNOW for these topics? just tell me, no need to explain or send anything
- describe and evaluate the effects of changes in structure of business organisations
- describe what determines demand for FACTORS OF PRODUCTION
- describe the allocation of resources in market and mixed economic systems
do they mean the 3 fundemental qs or something?
and can someone please explain me those points, i know theyre a lot, but i really need help :(
- analyse the different motives for SPENDING, saving and BORROWING
- discuss how and why different income groups have different expenditure patterns (spending, saving, borrowing)
- describe the main reasons for the different sizes of firms
this should keep the forum active for some time! im sorry if im asking too many questions :( :-[
thank you
-describe and evaluate the effects of changes in structure of business organisations
Bsuinesses can grow... businesses can fail.. Businesses can gain economics or scale by large output... businesses can be effected because of external disecnomices of scale.
-describe what determines demand for FACTORS OF PRODUCTION
The aggregate demand for goods and services determines the demand for factors of production.
-describe the allocation of resources in market and mixed economic systems
Resources are allocated by private sector they have control.. they decide the prices.. they decide wat to produce in market/free economy... where as in mixed its both Government and Private sector.
-analyse the different motives for SPENDING
- discuss how and why different income groups have different expenditure patterns
Spending patterns differs with the incomes of the general public. It can be influenced by the government too.. either by increasing taxes or interest rates. High income group wud spend more on leisure items where as low incomes wud spend on basic items.
- describe the main reasons for the different sizes of firms
Sizes of firms depends on the type of industry they operate in... it can be measured by Capital employeed, Labour employeed, Sales turnover.
Ok.. now wat do u need to know... Structure of business organisations.... you wuld need to know why these change.. and wats the factor tht make them change.. it culd be owners' targets, for .e.g.
Demand for factors of production.. in there you wuld need to learn bits from demand and supply... and Basic Economic problem.. needs and wants..
Allocation of resources... you need to know advantages and this advantages for all the type of economic systems.
HOPE tht HELPS :)
-
3 mark definition for economic growth anyone??
Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Usually a result of booms in the economy.
Hope tht helps :)
-
Could anyone please clarify to me what exactly they mean by the structure of business organisations?
Is that just like in public limited companies it would be:
Shareholders> Board of directors> Managers..
etc.
(:
-
Could anyone please clarify to me what exactly they mean by the structure of business organisations?
Is that just like in public limited companies it would be:
Shareholders> Board of directors> Managers..
etc.
(:
yea u can take it tht way.. also, wat sector does it operate in.. for example is it manufacturer or tertiary sector.. as in economics sometimes it goes like tht..
Hope tht helps :)
-
can some body tell me wat is the most important topics that we have to focus on them for the structured questions paper ??
or just study all the book ?
-
can some body tell me wat is the most important topics that we have to focus on them for the structured questions paper ??
or just study all the book ?
Well.. its almost every topic.. but the main ones..the one for sure questions come up on are
Production ...
Types of business Organisations
How are prices decided
Social Costs and Benefits
The Labour Market
How economy Works
Marcoeconomic Problems : Inflation, Unemployment, and Growth
Macroeconomic Problem: International Trade
Macroeconomic Objectives
Population
There are the topics that must show up each year... altho these all are covered in 1 Question Section A + 7 Questions Section B.. but we only choose 3 questions for Section B.. so some topics you should know very well.
Hope tht helps :)
-
THANK YOU SO MUCH HMH!! I FORECAST YOU AN A* INSHALLA
+ REP
-
THANK YOU SO MUCH HMH!! I FORECAST YOU AN A* INSHALLA
+ REP
InshAllah everyone will get A*. Thanks alot :)
-
Hey guys what mark do yall think can make us get an A in paper 6? :S
I have a feeling I'll get around 35/40.
And I guess the curve this year could be high. :P lol.
-
Hey guys what mark do yall think can make us get an A in paper 6? :S
I have a feeling I'll get around 35/40.
And I guess the curve this year could be high. :P lol.
Thats surely an A or even A* .. more likely A*.. but yeah..depends on other papers too. Gud luck
-
Thanks.
Gud luck 2 u 2.
-
Can Anyone Please Tell Me The Difference Between Claimant And Unemployment
-
i have a feeling the cuve would be at 31/40
economics mostly depends on paper 2 thats the hardest and therefore takes the most percentage
-
Can Anyone Please Tell Me The Difference Between Claimant And Unemployment
the claimant count - measures how many unemployed people are claiming unemployment-related benefits.
Unemployment is a count of jobless people who want to work, are available to work, and are actively seeking employment.
The claimant count measures only those people who are claiming unemployment-related benefits (Jobseeker's Allowance). Benefits rules vary over time and between different countries, so it is more difficult to make comparisons.
Not all those who register for unemployment benefits
hope tht helps :)
-
i have a feeling the cuve would be at 31/40
economics mostly depends on paper 2 thats the hardest and therefore takes the most percentage
yea paper 2 = 50% and paper 3 = 30% .. before used to be 20% now its changed with paper 1.. which is now 20% and the whole format changed for paper 1.. 30 questions and 45 mins.
-
Can Anyone Please Tell Me The Difference Between Claimant And Unemployment
the claimant count - measures how many unemployed people are claiming unemployment-related benefits.
Unemployment is a count of jobless people who want to work, are available to work, and are actively seeking employment.
The claimant count measures only those people who are claiming unemployment-related benefits (Jobseeker's Allowance). Benefits rules vary over time and between different countries, so it is more difficult to make comparisons.
Not all those who register for unemployment benefits
hope tht helps :)
Aha ,
So Not Every unemployed person gets paid ?
Ok Now I get it ..
Thaaaank You Very Much , You've Been Very Helpful
-
difference between free trade and trade agreement? its 6 marks.
is a trade agreement the same as restricted trade?
-
do i need to noe the advantages and disadvantages of all the business organizations, i.e sole trader, public limited, etc.?
thanks!
-
what exactly is meant by government spending.
-
could somebody help me with substitute goods definition ???
-
difference between free trade and trade agreement? its 6 marks.
is a trade agreement the same as restricted trade?
free trade is no restrictions at all, an agreement has "strings attatched" which could mean a country could agree to limit its supply of certain products to a country.. so they are a little bit different.
-
do i need to noe the advantages and disadvantages of all the business organizations, i.e sole trader, public limited, etc.?
thanks!
yah just learn it in case, you never know with economics! just know limited liability, unlimited liability, partners can argue, sole trader gets all the profits but access to capital difficult...
-
what exactly is meant by government spending.
this is money which is spent by the government. could be on:
public goods: goods and services which cannot be produced by the private sector and are good for the country .e.g. defense, streetlighting...
merit goods: goods which are good for the individual consuming them and good for society as well. e.g. vaccination
governments also spend money to increase production of declining industries to protect employment, to give money to those on low income (e.g. farmers), to subsidise merit goods, protect domestic industries from foreign competition...
-
could somebody help me with substitute goods definition ???
this is a good or service which could replace another good. for example, you can use slippers instead of shoes, or instead of boots i guess.
be careful not to confuse it with complementary goods (goods which are demanded with each other, eg dvd player and dvds)
-
what is the most serious cause of unemployment?
-
Hey people ....could someone pls post a definition on how to measure RPI ....for 7 marks pls !
Thx in advance
-
what is the most serious cause of unemployment?
id depends, most people regard structural unemployment as the most serious, it is when an economy become permenantly uncompetitive in a certain industry. it means workers need new skills and qualifications to be able to apply for another job, let alone get it! :)
-
Hey people ....could someone pls post a definition on how to measure RPI ....for 7 marks pls !
Thx in advance
hey someone has already posted a whole file on that, ive already got it so im going to attach it for you
i repeat
THIS FILE IS NOT MINE!!
-
Hey people ....could someone pls post a definition on how to measure RPI ....for 7 marks pls !
Thx in advance
hey someone has already posted a whole file on that, ive already got it so im going to attach it for you
i repeat
THIS FILE IS NOT MINE!!
Yes ...but i need a framed answer ! pls
-
Hey people ....could someone pls post a definition on how to measure RPI ....for 7 marks pls !
Thx in advance
hey someone has already posted a whole file on that, ive already got it so im going to attach it for you
i repeat
THIS FILE IS NOT MINE!!
Yes ...but i need a framed answer ! pls
Not so gud wid inflation.. let me try..and we only need to know RPI for exam 2009
First of all, A base is selected and then we found out how households spend their money, what goods and services they spend most of their incomes on.This is called basket. Then weight is attached to these goods and services which is how much of the income is spend on this good or service. After that retail shops are selected throughout the country and are told to keep a record of consumer spending. Then price changes are found between a certain amount of time, and then we construct a weighted price index. That is multiplying the new price index by weight for each catergory of products to calculate the general change in price.
Hope it helps! :)
-
THX HMH ....that seems to be atleast 5/7 ........ may be more !
THX :)
-
whats the difference between a RPI and inflation??
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
-
THX HMH ....that seems to be atleast 5/7 ........ may be more !
THX :)
It will be probly 7 wen u write in ur own words. Ur welcome :)
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
Inflation is the persistent genearl increase in price of level of goods and services..
where as,,retail price index is a monthly survey carried out by the governement to measure price changes!!
hope it helps :P
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
Most of the past papers i have seen..how we calculate RPI for 7 marks and i dnt knw to write an answer for 7 marks ..can any1 help??
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
Most of the past papers i have seen..how we calculate RPI for 7 marks and i dnt knw to write an answer for 7 marks ..can any1 help??
First of all, A base is selected and then we found out how households spend their money, what goods and services they spend most of their incomes on.This is called basket. Then weight is attached to these goods and services which is how much of the income is spend on this good or service. After that retail shops are selected throughout the country and are told to keep a record of consumer spending. Then price changes are found between a certain amount of time, and then we construct a weighted price index. That is multiplying the new price index by weight for each catergory of products to calculate the general change in price.
Hope it helps! :)
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
Most of the past papers i have seen..how we calculate RPI for 7 marks and i dnt knw to write an answer for 7 marks ..can any1 help??
First of all, A base is selected and then we found out how households spend their money, what goods and services they spend most of their incomes on.This is called basket. Then weight is attached to these goods and services which is how much of the income is spend on this good or service. After that retail shops are selected throughout the country and are told to keep a record of consumer spending. Then price changes are found between a certain amount of time, and then we construct a weighted price index. That is multiplying the new price index by weight for each catergory of products to calculate the general change in price.
Hope it helps! :)
OMG...u really saved my life..thnkz aloottt :D :D
I owe u ;)
-
u owe me nothing m8.. Gud luck for exam :)
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
it came in the Novmeber 2008 paper how to calculate inflation
so please check whether my answer is correct
The average price of the basket of products bought by a typical household in the first year of calculation or the base year is given the number 100.Then,if on average,prices rise by 25 percent than the price index at the end of the second year will be 125.Than,if on average,prices rise by 10 percent than it would be 137.5(125 * 10%)+125.This tells us consumer prices have risen on average by 37.5 percent over the two year period.
please tell any modifications if needed in the answer
-
u owe me nothing m8.. Gud luck for exam :)
Gd luck 2 u 2...By the way what lessons do u think is really IMP??
By the way guyz what r ur predictions for 2mrws exam??
-
whats the difference between a RPI and inflation??
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
it came in the Novmeber 2008 paper how to calculate inflation
so please check whether my answer is correct
The average price of the basket of products bought by a typical household in the first year of calculation or the base year is given the number 100.Then,if on average,prices rise by 25 percent than the price index at the end of the second year will be 125.Than,if on average,prices rise by 10 percent than it would be 137.5(125 * 10%)+125.This tells us consumer prices have risen on average by 37.5 percent over the two year period.
please tell any modifications if needed in the answer
I think its fine.. as long as there r numbers.. u can read my answer above tht may help :)
-
hey, do we need numbers to show how inflation is calculated?
-
hey, do we need numbers to show how inflation is calculated?
not necessarily.. but if they actually give u the numbers ..then u should use them.
-
hey, do we need numbers to show how inflation is calculated?
not necessarily.. but if they actually give u the numbers ..then u should use them.
they wont i asked :)
thanks!
-
hey, do we need numbers to show how inflation is calculated?
not necessarily.. but if they actually give u the numbers ..then u should use them.
they wont i asked :)
thanks!
oh thts gud. Thanks!
-
okay i have some more questions:
what are the causes of exchange rate fluctuations?
what are the consequences of exchange rate fluctuation?
Discuss policies to alleviate poverty
What are the benifits and disadvantages of specialisation at REGIONAL AND INTERNATIONAL levels?
i know the benifits and this of specialisation but whats regional and international levels ?? :S ???
tyvm
-
okay i have some more questions:
what are the causes of exchange rate fluctuations?
what are the consequences of exchange rate fluctuation?
Discuss policies to alleviate poverty
What are the benifits and disadvantages of specialisation at REGIONAL AND INTERNATIONAL levels?
i know the benifits and this of specialisation but whats regional and international levels ?? :S ???
tyvm
Causes for exchange rate to move up and down is tht it might be because of the demand and supply of the currency. if more exports tht means more demand for currency which will appericate the exchange rate therefore long run decreasing its demand as it wud be expensive to buy goods and services.. and thus depricate.
Consequences i mentioned up there :)
Distribution of income properly will eliminate poverty. Also, gov. can change its fiscal and monetary policies to adjust the levels of poverty in economy. Also, the more employment ..the less poverty and high living of standards in long term.
Reginal specilisation is when a whole country is specilised at producing one thing they gud at. International specilisation is when the whole market or the whole world is producing tht good/service.
Hope tht helps :)
-
okay i have some more questions:
what are the causes of exchange rate fluctuations?
what are the consequences of exchange rate fluctuation?
Discuss policies to alleviate poverty
What are the benifits and disadvantages of specialisation at REGIONAL AND INTERNATIONAL levels?
i know the benifits and this of specialisation but whats regional and international levels ?? :S ???
tyvm
Causes for exchange rate to move up and down is tht it might be because of the demand and supply of the currency. if more exports tht means more demand for currency which will appericate the exchange rate therefore long run decreasing its demand as it wud be expensive to buy goods and services.. and thus depricate.
Consequences i mentioned up there :)
Distribution of income properly will eliminate poverty. Also, gov. can change its fiscal and monetary policies to adjust the levels of poverty in economy. Also, the more employment ..the less poverty and high living of standards in long term.
Reginal specilisation is when a whole country is specilised at producing one thing they gud at. International specilisation is when the whole market or the whole world is producing tht good/service.
Hope tht helps :)
thanks so much!
By the way for the specialisation question, whats the advantage of regional specialization?!!
so this can be ur 200th post!!! :)
-
okay i have some more questions:
what are the causes of exchange rate fluctuations?
value of counter currency in the international market....If indian Rupee is going up against dollar, and pak rupee is stable, then indian rupee will gain with respect to pak rupee
counter currency's value depends on many domestic and international factors for that currencyPak rupee's own value will likely go up if our inflation goes down, if our interest rates go up, if we get a lot of foreign investment, or our trade deficit narrows or the trade gap grows, or expat pakistanis send more moneyBy the wayCOUNTER CURRENCY IS for example pak rupee versus indian rupee...indian rupee is the counter currency
what are the consequences of exchange rate fluctuation?
Discuss policies to alleviate poverty
What are the benifits and disadvantages of specialisation at REGIONAL AND INTERNATIONAL levels?
i know the benifits and this of specialisation but whats regional and international levels ?? :S ???
tyvm
-
consequences of exchange rate fluctuations is that importers and exporters get confused and its not easy for them to do business like for example if currency value goes down, exporters are happy and importers are unhappy....and vice versa
-
okay i have some more questions:
what are the causes of exchange rate fluctuations?
value of counter currency in the international market....If indian Rupee is going up against dollar, and pak rupee is stable, then indian rupee will gain with respect to pak rupee
counter currency's value depends on many domestic and international factors for that currencyPak rupee's own value will likely go up if our inflation goes down, if our interest rates go up, if we get a lot of foreign investment, or our trade deficit narrows or the trade gap grows, or expat pakistanis send more moneyBy the wayCOUNTER CURRENCY IS for example pak rupee versus indian rupee...indian rupee is the counter currency
what are the consequences of exchange rate fluctuation?
Discuss policies to alleviate poverty
What are the benifits and disadvantages of specialisation at REGIONAL AND INTERNATIONAL levels?
i know the benifits and this of specialisation but whats regional and international levels ?? :S ???
tyvm
so if intrest rates go up, this encourages investment?
im confused, i thought it was lowering intrest rates encourages investment :'( :'( :'( :'(
thanks though :)
By the way im guessing your indian :)
-
foreign investors hate to see currency value fluctuation
they get unnerved and hence they dont like to invest in countries whose currencies are fluctuating widely
if they invest in pakistan and rupee depreciates, the profitability on their investments in terms of dollars will go down
..for ur questioni am a pakistani..LMAO
no i said currency rate increases when the central bank increases the rate of intrest
-
consequences of exchange rate fluctuations is that importers and exporters get confused and its not easy for them to do business like for example if currency value goes down, exporters are happy and importers are unhappy....and vice versa
yah its like
S trong
P ound
I mports
C heap
E xports
D ear
thats how i learn it :)
-
consequences of exchange rate fluctuations is that importers and exporters get confused and its not easy for them to do business like for example if currency value goes down, exporters are happy and importers are unhappy....and vice versa
yah its like
S trong
P ound
I mports
C heap
E xports
D ear
thats how i learn it :)
i liked it ...lol
What are the factors that influence the choice of occupation
-
consequences of exchange rate fluctuations is that importers and exporters get confused and its not easy for them to do business like for example if currency value goes down, exporters are happy and importers are unhappy....and vice versa
yah its like
S trong
P ound
I mports
C heap
E xports
D ear
thats how i learn it :)
i liked it ...lol
What are the factors that influence the choice of occupation
Education required
Immobility
Type of job
Satisfaction
Fringe benefits
-
consequences of exchange rate fluctuations is that importers and exporters get confused and its not easy for them to do business like for example if currency value goes down, exporters are happy and importers are unhappy....and vice versa
yah its like
S trong
P ound
I mports
C heap
E xports
D ear
thats how i learn it :)
i liked it ...lol
What are the factors that influence the choice of occupation
Education required
Immobility
Type of job
Satisfaction
Fringe benefits
fringe benefits,satisfaction are right but it could also depend upon wage offered.whether the job matches ur true potential.Where other family and friends are present,language and culture??
-
correct :)
-
hmh: WAGE :P
and also
? danger/hazardous
? unpleasant/dirty
? Promotion prospects
? Holidays
? “Perks”/Fringe benefits
- Company car
- Health insurance
- Health club
- Discounts
- Free education for children
- Plane tickets
-
hmh: WAGE :P
and also
? danger/hazardous
? unpleasant/dirty
? Promotion prospects
? Holidays
? “Perks”/Fringe benefits
- Company car
- Health insurance
- Health club
- Discounts
- Free education for children
- Plane tickets
lol i guess i wrote all tht :P.. dangerous/hazardous, unpleasant/dirty = type of job. promotion prospects, perks, car,health, eductaion = fringe benefits.
-
correct :)
so the presence of trade union influences one's choice of occupation?
like where would i like to work..in a small enterprise with no trade union or small enterprise with a trade union
-
correct :)
so the presence of trade union influences one's choice of occupation?
like where would i like to work..in a small enterprise with no trade union or small enterprise with a trade union
presence of trade union doesnt inflence one's choice... it jst influence the wage rate and working conditions once u are in a job and joined a trade union.
-
theres nothing called i wrote all that in eco:P u need details :P :P
yah trade union definitely, because it can provide you more job security, more benifits, help you improve working conditions
-
lol, now were not agreeing on something!
-
lol, now were not agreeing on something!
lol.. we dnt need to argue on anything.. even if we agree or not.. main thing is correct info shud be provided.. we said 2 diff things.. now its his job to find the correct one :)
-
correct :)
so the presence of trade union influences one's choice of occupation?
like where would i like to work..in a small enterprise with no trade union or small enterprise with a trade union
presence of trade union doesnt inflence one's choice... it jst influence the wage rate and working conditions once u are in a job and joined a trade union.
how could it not play a singnificant factor.its supposed secure the job for u and make it more clearner etc lol
-
it doesnt matter, if you argue it correctly in an exam, you will get the marks. so this makes me relaxed now, fewf. its not like maths, where theres only ONE answer and NOTHING else! :)
so did u revise well for tmrw?
-
correct :)
so the presence of trade union influences one's choice of occupation?
like where would i like to work..in a small enterprise with no trade union or small enterprise with a trade union
presence of trade union doesnt inflence one's choice... it jst influence the wage rate and working conditions once u are in a job and joined a trade union.
how could it not play a singnificant factor.its supposed secure the job for u and make it more clearner etc lol
It does.. but thts wen u are already in a job.. but not wen ur getting a job for first time...
-
it doesnt matter, if you argue it correctly in an exam, you will get the marks. so this makes me relaxed now, fewf. its not like maths, where theres only ONE answer and NOTHING else! :)
so did u revise well for tmrw?
yea thts wat economics and business abt.. arguing ur point lol..
erm.. not really i didnt open book yet.. but thinking to soon.
-
it doesnt matter, if you argue it correctly in an exam, you will get the marks. so this makes me relaxed now, fewf. its not like maths, where theres only ONE answer and NOTHING else! :)
so did u revise well for tmrw?
yea thts wat economics and business abt.. arguing ur point lol..
erm.. not really i didnt open book yet.. but thinking to soon.
i havent opened my books since... well.. i cnt remember that far back..
ive only done past papers
-
Construction of RPI
1 ) Selection of goods - it's nearly impossible to calculate the price changes of all the goods and services, so a basket of about several 100 goods are selected, these goods must be the goods that are used by an average family.
2 ) base year - this must be a normal economic year in which there are no political or economical imbalances. base year is taken as standard year with which rest of years prices are compared. price level in base year is represented by 100.
3 ) collection of data - statistical department of govt. collects info about the prices in the base year as well as current year (the year whose price level is supposed to be found) info is gathered from price-lists, newspapers, cooperative societys office, etc.
4 ) assigning weight - patterns of expenditure are different for different goods, ppl spend more on some goods and less on others. more weight shud be given to those goods that are being used relatively commonly.
weight= expenditure on the good/total expenditure
5 ) Index (prive relatives) are calculated by:-
INDEX = current year price/base year price X 100
6 ) Weighted Index is calculated:-
WI = weight X index
7 ) RPI = total weighted index/total weights
8 ) RATE OF INFLATION is calculated by takin % changes in current year average prices, i.e, RPI of current year to the base year average prices
Rate of inflation = (RPI (current) - RPI (last year))/RPI (last year)*100%
Hope that helped.
-
Great Explaination! +rep right away.
-
Thanks m8, lol.
-
Thanks m8, lol.
You deserve it! thats exactly wat i m going to copy paste in my exam if question shows up.. which it does m sure every year.
-
huys my cousin will have the eco paper done before
he will be able to tell me what i need to know
should i cheat or not
i feel soo bad
-
huys my cousin will have the eco paper done before
he will be able to tell me what i need to know
should i cheat or not
i feel soo bad
lol.. cheating or not depends on u and ur cousin... but chatting or not depends on forum.. which is not to post nything until 24 hrs have past of exam ;).
-
huys my cousin will have the eco paper done before
he will be able to tell me what i need to know
should i cheat or not
i feel soo bad
i reckon u must be a muslim(i am not)..i heard somewhere u will be going against ur religion if u cheat
-
huys my cousin will have the eco paper done before
he will be able to tell me what i need to know
should i cheat or not
i feel soo bad
i reckon u must be a muslim(i am not)..i heard somewhere u will be going against ur religion if u cheat
lol.. doesn't depend on religion.. it depends on ur faith... ur inner faith.. wat it says u do tht. I don't think any religion says tht u are allowed to cheat... and cheating is of different kinds too.. not jst 1.. so.. it doesn't really matter.. hope u understand :)
-
huys my cousin will have the eco paper done before
he will be able to tell me what i need to know
should i cheat or not
i feel soo bad
i reckon u must be a muslim(i am not)..i heard somewhere u will be going against ur religion if u cheat
lol.. doesn't depend on religion.. it depends on ur faith... ur inner faith.. wat it says u do tht. I don't think any religion says tht u are allowed to cheat... and cheating is of different kinds too.. not jst 1.. so.. it doesn't really matter.. hope u understand :)
see my friend atheism says Do in whatever means possible to acheive what u aiming for..:D
-
And what does humanity says? Do anything to achieve what you want? whether you hurt everyone or not? doesnt matter?
-
And what does humanity says? Do anything to achieve what you want? whether you hurt everyone or not? doesnt matter?
why did u -repp me..lol
i am talking about those aims which involves no hurting anybody but a little bit cheating..lmfaooo.
duh!any aims involving murders are condemned by people regardless of faith..its in human nature to condemn it.
TBH i aint a atheist.I was just showing you how bad these people are :D
-
And what does humanity says? Do anything to achieve what you want? whether you hurt everyone or not? doesnt matter?
why did u -repp me..lol
i am talking about those aims which involves no hurting anybody but a little bit cheating..lmfaooo.
duh!any aims involving murders are condemned by people regardless of faith..its in human nature to condemn it.
TBH i aint a atheist.I was just showing you how bad these people are :D
believe me i didn't -rep lol.. i never clicked -rep till now and its more than 9 months me here. yea i got wat u meant.. ah well.. anways.. every time hope fr gud :)
-
Construction of RPI
1 ) Selection of goods - it's nearly impossible to calculate the price changes of all the goods and services, so a basket of about several 100 goods are selected, these goods must be the goods that are used by an average family.
2 ) base year - this must be a normal economic year in which there are no political or economical imbalances. base year is taken as standard year with which rest of years prices are compared. price level in base year is represented by 100.
3 ) collection of data - statistical department of govt. collects info about the prices in the base year as well as current year (the year whose price level is supposed to be found) info is gathered from price-lists, newspapers, cooperative societys office, etc.
4 ) assigning weight - patterns of expenditure are different for different goods, ppl spend more on some goods and less on others. more weight shud be given to those goods that are being used relatively commonly.
weight= expenditure on the good/total expenditure
5 ) Index (prive relatives) are calculated by:-
INDEX = current year price/base year price X 100
6 ) Weighted Index is calculated:-
WI = weight X index
7 ) RPI = total weighted index/total weights
8 ) RATE OF INFLATION is calculated by takin % changes in current year average prices, i.e, RPI of current year to the base year average prices
Rate of inflation = RPI (current) - RPI (base)
Hope that helped.
GREAT explanation-thanks ;D
-
and By the way atheists aren't necessarily 'bad' people lol...I could give you several thousand examples of religious-fanatics who have done some terrible things (not saying that religion is a bad thing-just saying that you don't have to be religious to be a good person :))
-
thanks so much hmh for all your help in econ by reading this forum- +rep for you mate :D
-
i need help with this question :-\
Discuss how the use of a protective meaure such as a tariff might be better than allowing free trade.(4 marks)
please answer as soon as you can..anyone! :-[
-
anyone??pleasee!!!i NEED to know! :(
-
i need help with this question :-\
Discuss how the use of a protective meaure such as a tariff might be better than allowing free trade.(4 marks)
please answer as soon as you can..anyone! :-[
maybe i can help dont knw :(..
Define what is meant by a tariff first and then..
umm if there is free trade then maybe the BOP will be deficit soo if they use a protective mesure like tariff..there will be less import and more export soo the BOP will be surplus and if there is a tariif on imported goods soo more people will buy domestic products soo employement will increase to produce the products and the GDP and econmic growth of the country will rise...i am nt sure abt this answer and hope it is right
-
i need help with this question :-\
Discuss how the use of a protective meaure such as a tariff might be better than allowing free trade.(4 marks)
please answer as soon as you can..anyone! :-[
maybe i can help dont knw :(..
Define what is meant by a tariff first and then..
umm if there is free trade then maybe the BOP will be deficit soo if they use a protective mesure like tariff..there will be less import and more export soo the BOP will be surplus and if there is a tariif on imported goods soo more people will buy domestic products soo employement will increase to produce the products and the GDP and econmic growth of the country will rise...i am nt sure abt this answer and hope it is right
hmm...it makes sense! :)
thanku so much!
+ rep 4 u! ;)
-
i need help with this question :-\
Discuss how the use of a protective meaure such as a tariff might be better than allowing free trade.(4 marks)
please answer as soon as you can..anyone! :-[
maybe i can help dont knw :(..
Define what is meant by a tariff first and then..
umm if there is free trade then maybe the BOP will be deficit soo if they use a protective mesure like tariff..there will be less import and more export soo the BOP will be surplus and if there is a tariif on imported goods soo more people will buy domestic products soo employement will increase to produce the products and the GDP and econmic growth of the country will rise...i am nt sure abt this answer and hope it is right
Good answer there :). Lemme try
Allowing free trade will help local and international businesses to trade widout restrictions and therefore it might increase the demand for local producers' goods and services which therefore will help increase GDP and thus an increase in economic growth. however, the imports might be cheaper as compared to local so this could create several problems for local businesses as there might not be sales revenue and no profits. Introduction of tariffs here will help as it will make the imports expensive and thus reducing demand for imported items as well as increasing demand for local items thus puting back the sales revenues and profits up. As the consequence of this, incomes of employees will increase as more employment is created and thus an increase in standards of living and economic growth.
Hope it helps.
-
i need help with this question :-\
Discuss how the use of a protective meaure such as a tariff might be better than allowing free trade.(4 marks)
please answer as soon as you can..anyone! :-[
maybe i can help dont knw :(..
Define what is meant by a tariff first and then..
umm if there is free trade then maybe the BOP will be deficit soo if they use a protective mesure like tariff..there will be less import and more export soo the BOP will be surplus and if there is a tariif on imported goods soo more people will buy domestic products soo employement will increase to produce the products and the GDP and econmic growth of the country will rise...i am nt sure abt this answer and hope it is right
Good answer there :). Lemme try
Allowing free trade will help local and international businesses to trade widout restrictions and therefore it might increase the demand for local producers' goods and services which therefore will help increase GDP and thus an increase in economic growth. however, the imports might be cheaper as compared to local so this could create several problems for local businesses as there might not be sales revenue and no profits. Introduction of tariffs here will help as it will make the imports expensive and thus reducing demand for imported items as well as increasing demand for local items thus puting back the sales revenues and profits up. As the consequence of this, incomes of employees will increase as more employment is created and thus an increase in standards of living and economic growth.
Hope it helps.
Nicee answer :D
-
lol.. thanks. the answer doesnt matter as long as its correct info. which both of them have :)
-
lol.. thanks. the answer doesnt matter as long as its correct info. which both of them have :)
yeah it is similar to mine but u expanded it more thats it :P
-
WHY THE HELL YOU PEOPLE FORGET THE MAIN POINT.BY IMPOSING TARIFFS ON THE IMPORTS,THE GOVERNMENT WILL RECIEVE MORE MONEY WHEN THE IMPORTS PASS THROUGH THE CUSTOM OFFICIALS,THEREBY INCREASING THE MONEY FOR PUBLIC EXPENDITURE.
:D
-
WHY THE HELL YOU PEOPLE FORGET THE MAIN POINT.BY IMPOSING TARIFFS ON THE IMPORTS,THE GOVERNMENT WILL RECIEVE MORE MONEY WHEN THE IMPORTS PASS THROUGH THE CUSTOM OFFICIALS,THEREBY INCREASING THE MONEY FOR PUBLIC EXPENDITURE.
:D
yea thts correct.. he said discuss.. so we gota go in more depth i guess.. got discuss/argue 2points. :)
-
WHY THE HELL YOU PEOPLE FORGET THE MAIN POINT.BY IMPOSING TARIFFS ON THE IMPORTS,THE GOVERNMENT WILL RECIEVE MORE MONEY WHEN THE IMPORTS PASS THROUGH THE CUSTOM OFFICIALS,THEREBY INCREASING THE MONEY FOR PUBLIC EXPENDITURE.
:D
yea thts correct.. he said discuss.. so we gota go in more depth i guess.. got discuss/argue 2points. :)
Oo oki :P..By the way thnkz 4 ur answer :P
-
hey HMH,al noor co i have a question
As countries develop they often rely less on exports of agricultural products and more on the exports from other sectors. Discuss the possible benefits of this.
Please answer
-
and also what role the trade union plays in an economy
-
hey HMH,al noor co i have a question
As countries develop they often rely less on exports of agricultural products and more on the exports from other sectors. Discuss the possible benefits of this.
Please answer
As conuntries develop.. they become more advanced in captial and infrastructure.. and more of the working population works in tertiary sector. These people are educated and thus provide a gud litracy rate of economy as well as more advances in the techonology. Now, these economy deindustrialises.. means less of secondary and primary sector because these people have more incomes to spend on luxury goods and services so the demand and supply for tertiary sector increases. This increase the exports/imports of the economy providing with more surplus for the gov. which can be then invested in economy for ever more advances.
Trade unions as in economy... well, they negotiate for the whole economy on the issues such as least wage rate.. also protect consumers laws such as banning faulty guds/servies. Also, they negotiate for the betterment of the whole economy by protesting against wrong laws by government as they view it.
Hope it helps :)
-
hey HMH,al noor co i have a question
As countries develop they often rely less on exports of agricultural products and more on the exports from other sectors. Discuss the possible benefits of this.
Please answer
As conuntries develop.. they become more advanced in captial and infrastructure.. and more of the working population works in tertiary sector. These people are educated and thus provide a gud litracy rate of economy as well as more advances in the techonology. Now, these economy deindustrialises.. means less of secondary and primary sector because these people have more incomes to spend on luxury goods and services so the demand and supply for tertiary sector increases. This increase the exports/imports of the economy providing with more surplus for the gov. which can be then invested in economy for ever more advances.i agree with your literacy rate point but exports of agriculture can also bring mone to the government for which it can invest in other sectors...??
Trade unions as in economy... well, they negotiate for the whole economy on the issues such as least wage rate.. also protect consumers laws such as banning faulty guds/servies. Also, they negotiate for the betterment of the whole economy by protesting against wrong laws by government as they view it.
Hope it helps :)
-
hey HMH,al noor co i have a question
As countries develop they often rely less on exports of agricultural products and more on the exports from other sectors. Discuss the possible benefits of this.
Please answer
As conuntries develop.. they become more advanced in captial and infrastructure.. and more of the working population works in tertiary sector. These people are educated and thus provide a gud litracy rate of economy as well as more advances in the techonology. Now, these economy deindustrialises.. means less of secondary and primary sector because these people have more incomes to spend on luxury goods and services so the demand and supply for tertiary sector increases. This increase the exports/imports of the economy providing with more surplus for the gov. which can be then invested in economy for ever more advances.
Trade unions as in economy... well, they negotiate for the whole economy on the issues such as least wage rate.. also protect consumers laws such as banning faulty guds/servies. Also, they negotiate for the betterment of the whole economy by protesting against wrong laws by government as they view it.
Hope it helps :)
It really helped me thnkz alot :P
-
hey HMH,al noor co i have a question
As countries develop they often rely less on exports of agricultural products and more on the exports from other sectors. Discuss the possible benefits of this.
Please answer
As conuntries develop.. they become more advanced in captial and infrastructure.. and more of the working population works in tertiary sector. These people are educated and thus provide a gud litracy rate of economy as well as more advances in the techonology. Now, these economy deindustrialises.. means less of secondary and primary sector because these people have more incomes to spend on luxury goods and services so the demand and supply for tertiary sector increases. This increase the exports/imports of the economy providing with more surplus for the gov. which can be then invested in economy for ever more advances.i agree with your literacy rate point but exports of agriculture can also bring mone to the government for which it can invest in other sectors...??
Trade unions as in economy... well, they negotiate for the whole economy on the issues such as least wage rate.. also protect consumers laws such as banning faulty guds/servies. Also, they negotiate for the betterment of the whole economy by protesting against wrong laws by government as they view it.
Hope it helps :)
yea, true it can bring... but as i said people are more advanced and so like to spend more on luxury products.. which deindustrialises... means less of primary and secondary sector.. thus it goes to tertiary sector .. and wen the economy is improved/specialised in tht.. i dnt think its still going to bother wid agriculture anymore?
Hope it helps :)
-
What the Examiners are looking for??
4 types of skills they test.
1. Knowledge with understanding.
2. Application
3.Analysis
4. Evaluation
Knowledge with understanding:
The key words to look for in paper... Describe, State, List, Outline, What is meant by...., Give..., Define...., Identify..., Name.
Application
Here the key words...Explain how this business...., Why might company x...., Give an example from case study to..., Why might company z...., From the cast study outline...
Analysis
Analyse two factors...., Explain why..., Using accounting ratios, analyse...., Examine why the business....
Evaluation
Discuss.., Justify..., Consider..., Decide..., Which..., Evaluate..., Why do you think...., To what extent..., Do you agree.., Advise...., Assess..., Recommend....
How to improve your grade?
-Use your text book to guide you throught topics.
-Learning and recalling the work is necessary. If you recall you succeed and if you cannot, you will fail.
-Make sure you can explain your answers in detail and do not make simple statements unless a question asks you for a simple statement.
-Use past papers to reinforce revision.
- MOST IMPORTANTLY..... Keep It Simple and Structured, And Subject Specific!!
HOPE THAT HELPS EVERYONE! AND GUDDD LUUUCKKK!!
-
i need help with this question :-\
Discuss how the use of a protective meaure such as a tariff might be better than allowing free trade.(4 marks)
please answer as soon as you can..anyone! :-[
maybe i can help dont knw :(..
Define what is meant by a tariff first and then..
umm if there is free trade then maybe the BOP will be deficit soo if they use a protective mesure like tariff..there will be less import and more export soo the BOP will be surplus and if there is a tariif on imported goods soo more people will buy domestic products soo employement will increase to produce the products and the GDP and econmic growth of the country will rise...i am nt sure abt this answer and hope it is right
Good answer there :). Lemme try
Allowing free trade will help local and international businesses to trade widout restrictions and therefore it might increase the demand for local producers' goods and services which therefore will help increase GDP and thus an increase in economic growth. however, the imports might be cheaper as compared to local so this could create several problems for local businesses as there might not be sales revenue and no profits. Introduction of tariffs here will help as it will make the imports expensive and thus reducing demand for imported items as well as increasing demand for local items thus puting back the sales revenues and profits up. As the consequence of this, incomes of employees will increase as more employment is created and thus an increase in standards of living and economic growth.
Hope it helps.
thanks!!!yea...defnitely did help!:)
+ rep for u ;)
-
Ur welcome :)
-
hey HMH,al noor co i have a question
As countries develop they often rely less on exports of agricultural products and more on the exports from other sectors. Discuss the possible benefits of this.
Please answer
hey, im reading answers, and all you guys are writing mostly on HOW they become more developed! im gna try answering this qs :)
benifits:
- less primary product dependency which are price elastic, meaning that increasing the supplies would lead to a lower revenue, so depend on them less would mean country is not vulnerable to a great loss in its GDP because of the elasticity of primary products
- developing other sectors of the economy bring in income which is less vulnerable to change, because they need more qualifications and skills than the primary sector. they are more reliable
- climate conditions do not affect the secondary or primary sector, so output is less affected than through agriculture
thats all i can think of :-\
also someone said "Now, these economy deindustrialises.. means less of secondary and primary sector because these people have more incomes to spend on luxury goods and services so the demand and supply for tertiary sector increases." i dont know who though but i dont think thats necessarily true because "luxury goods" are also in the manufacturing sector not only in the tertiary sector. for example, cars, houses, flat screen TVs 8)
i have a question thats not from a past paper though, when they ask you "is there enough evidence" do u also argue both sides ( like there is evidence to suggest that...but also...), or do you just say, yes there is enough evidence, no there isnt... HELP!!!
-
Hey there.. i wrote tht abt deindustrilisation.. and the luxury goods.. yea the luxury goods was a mistake as an example.. thanks for correction!.
Abt ur question abt evidence.. ususally its not enough to conclude an answer.. so we always argue tht wat is the source of the evidence provided.. is it relative? trusted? biased? thts the main point to argue.. then u can look at the case study and argue other points mentioned.. and in end u have to give a conclusion abt what u think.
Hope tht helps :)
-
ur welcome its nothing :-\
yah this is great, and i didnt know you could talk about the "source" of the extract thats amazing. like history :o
one more thing can you tell me about public expenditure vs private expenditure?
and is expenditure the same as investment?
thanks again :)
-
ur welcome its nothing :-\
yah this is great, and i didnt know you could talk about the "source" of the extract thats amazing. like history :o
one more thing can you tell me about public expenditure vs private expenditure?
and is expenditure the same as investment?
thanks again :)
Basically, Public expenditure/ investment is done by Government as ususally on things which the whole economy can benefit from. For example, improving country's infrastructure, investing into health and services for the betterment and increase rate of health and age in economy. Private sector is opposite, in means of its done by private sector of the economy, usually on things for itself... like for the advances of new technology, research and development, anything tht leads to profit, As profit is main objective of private sector.
Expenditure/ Investment.. hope u understood is they r same or not ;)
Hope it helped :)
-
Off to take the exam now.. :)
EVERYONE BEST OF LUCK FOR THE EXAM. HOPE WE ALL DO OUR BESTEST!!!!!! ;D
-
how waz the paper...it waz easy wasnt it??
-
yes it was good ......i guess the band will be high this year !
-
no the gt will be same like previous years cuz the paper was exactly same as before except that Question one came a little easier this time
-
Can't wait till 24 hrs are over.
URGH-I'm more into bio, chem, physics-Econ isn't for me haha
-
Can't wait till 24 hrs are over.
URGH-I'm more into bio, chem, physics-Econ isn't for me haha
lol.. yea but still you take it :P.. lets wait for 24 hrs ... have some drinks n rest before a long chat and arguments :P ;D
GREAT JOB GUYS!
-
I know we're not mean to discuss it till 24 hours later...
But what do u guys mean easy?
Like full marks, one or two wrong or moree?
I definitely got more than just a few marks off =/
-
Hey guys... how did u do ?? it was very easy exam.. guud choices there.. and question 1 wasnt hard even.
Now paper 1.. you can discuss questions here.
Thanks
-
yeah it was nice :) wanna discuss in the econ discussion thread for paper 2?
-
yeah it was nice :) wanna discuss in the econ discussion thread for paper 2?
I am talking everywhere lol.. surely will be there too :)
-
I need help regarding this questi0n
25) What is most likely to conflict with a government's aim of price stability?
A higher direct tax rates
B higher government spending
C higher interest rates
D higher unemployment
it came in may/june 2005
thx
-
I need help regarding this questi0n
25) What is most likely to conflict with a government's aim of price stability?
A higher direct tax rates
B higher government spending
C higher interest rates
D higher unemployment
it came in may/june 2005
thx
The ans shood be B.. because if government spends more.. it will put more cash into economic cycle..which will give people more purchasing power as they wil have more incomes as a result of gov. expenditure .. this creats increase in aggregate demand which cant meet the supply.. so inflation increase as a result of demand pull.
-
I need help regarding this questi0n
25) What is most likely to conflict with a government's aim of price stability?
A higher direct tax rates
B higher government spending
C higher interest rates
D higher unemployment
it came in may/june 2005
thx
The ans shood be B.. because if government spends more.. it will put more cash into economic cycle..which will give people more purchasing power as they wil have more incomes as a result of gov. expenditure .. this creats increase in aggregate demand which cant meet the supply.. so inflation increase as a result of demand pull.
Thankyou, I understood it.
cheers
-
Ur welcome :)
-
my question is may 06 p1.
question 9.
anyone ?
-
my question is may 06 p1.
question 9.
anyone ?
to decrease the price.. we must increase the demand to bring price in equb. so does we decrease the quantity supplied.. so the answer is B.
-
my question is may 06 p1.
question 9.
anyone ?
is it this one?
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
the answer is B like hmh said.
-
muslim brothers ur requested to visit this link!
https://studentforums.biz/index.php/topic,2603.30.html
-
ok thanks hmh and name :)
-
Have people still not done the p2?
-
Have people still not done the p2?
everyone is done with p2/p4.. now its multiple choice 2morrow :)
-
Any doubts abt any paper 1 or 3 (until 2008) now paper 1 (2009 onwards) are welcome here.
About the exam : Paper time: 45 minutes Questions:30
-
Any doubts abt any paper 1 or 3 (until 2008) now paper 1 (2009 onwards) are welcome here.
About the exam : Paper time: 45 minutes Questions:30
hey hmh do you have answers to econ questions before 2000? :)
-
Any doubts abt any paper 1 or 3 (until 2008) now paper 1 (2009 onwards) are welcome here.
About the exam : Paper time: 45 minutes Questions:30
hey hmh do you have answers to econ questions before 2000? :)
nope lol.. its very very rare to get them i guess. If i had i would have uploaded them ages ago :)
-
ah okay-thanks though :)
-
Any doubts abt any paper 1 or 3 (until 2008) now paper 1 (2009 onwards) are welcome here.
About the exam : Paper time: 45 minutes Questions:30
hey hmh do you have answers to econ questions before 2000? :)
mate from 2006 to 2008..thats the best u can do..plz...dont overload yourself.LOL
inni mini miny mo catch a tiger by its toe if its scream let it go inni mini miny mo and the answer is B...Lol
-
lol freaked.. stop freaking :P. I have done 2004-2008 all past papers abt a year ago i guess.. and im jst sitting here to help now :P
-
Hey guys, Do you know any good site for MCQs practice?
I have done papers from 2003-2007.
-
Hey guys, Do you know any good site for MCQs practice?
I have done papers from 2003-2007.
Thats more than enough i would say lol.. erm.. dont hav 1 yet tht got MCQs.. but will let u knw if i find one :)
-
Question M/J/04 # 20
Why are firms making similar products often located near each other?
A Competition may be reduced.
B External economies may be possible.
C Land may be cheaper.
D Overheads may be increased.
The answer is B. What is 'external economy' and what are 'overheads'?
Thanks :)
-
omg i hav the same question!
and i think ders smthng rong wid da mark scheme of may 04 in this website? its weird :S
-
Question M/J/04 # 20
Why are firms making similar products often located near each other?
A Competition may be reduced.
B External economies may be possible.
C Land may be cheaper.
D Overheads may be increased.
The answer is B. What is 'external economy' and what are 'overheads'?
Thanks :)
external economies r benefits like low transport costs, skilled labour,etc...which u get when a particular industry is localized. Overheads are the running costs
-
Question M/J/04 # 20
Why are firms making similar products often located near each other?
A Competition may be reduced.
B External economies may be possible.
C Land may be cheaper.
D Overheads may be increased.
The answer is B. What is 'external economy' and what are 'overheads'?
Thanks :)
external economies r benefits like low transport costs, skilled labour,etc...which u get when a particular industry is localized. Overheads are the running costs
thanks nid +rep mate :)
-
omg i hav the same question!
and i think ders smthng rong wid da mark scheme of may 04 in this website? its weird :S
it IS weird i was just doing this paper. some answers were like WAT?? especially the one about the substitute and the limited seats one
-
omg i hav the same question!
and i think ders smthng rong wid da mark scheme of may 04 in this website? its weird :S
it IS weird i was just doing this paper. some answers were like WAT?? especially the one about the substitute and the limited seats one
the supply is fixed so its vertical-demand is relatively inelastic-lol I got it wrong because i put supply infinite because I did it too fast^^
I have another question-whats a 'basis of taxation' or a 'tax base'? and what are commission payments?
and what is 'current income balance' and 'current transfer balance' well maybe what's the difference might be better-I know its related to BOP but...yeah help would be appreciated thanks :)
-
Hello ,
Can Someone plz explain the types of unemployment
-
Hello ,
Can Someone plz explain the types of unemployment
Structural: Unemployment that results from a mismatch between supply and demand for workers.
Frictional: A type of unemployment explained by people being temporarily between jobs, searching for new ones.
Seasonal: In this case, like that of cyclical unemployment, the number of job-seekers exceeds the number of vacancies.
Cyclical: This refers to unemployment that rises during economic downturns and falls when the economy improves.
-
does a multinational sell shares? ... and do they sell em on the stock exchange?
-
omg i hav the same question!
and i think ders smthng rong wid da mark scheme of may 04 in this website? its weird :S
it IS weird i was just doing this paper. some answers were like WAT?? especially the one about the substitute and the limited seats one
the supply is fixed so its vertical-demand is relatively inelastic-lol I got it wrong because i put supply infinite because I did it too fast^^
I have another question-whats a 'basis of taxation' or a 'tax base'? and what are commission payments?
and what is 'current income balance' and 'current transfer balance' well maybe what's the difference might be better-I know its related to BOP but...yeah help would be appreciated thanks :)
anyone know any of these?? pleease haha :)
-
does a multinational sell shares? ... and do they sell em on the stock exchange?
A multinational business is a form of PLC but one which produces in more than one country apart from its own. So basically yea it sells shares on stock exchange.
-
Hello ,
Can Someone plz explain the types of unemployment
Structural: Unemployment that results from a mismatch between supply and demand for workers.
Frictional: A type of unemployment explained by people being temporarily between jobs, searching for new ones.
Seasonal: In this case, like that of cyclical unemployment, the number of job-seekers exceeds the number of vacancies.
Cyclical: This refers to unemployment that rises during economic downturns and falls when the economy improves.
Ahhhha ..
Thaaaaaaaaaaaank You Soooo Much
+rep
-
Hmh-please do you know??
-
Hmh-please do you know??
yea i do know but m not near my resources atm.. so cant really answer properly atm.. i will as soon as possible until then u can move on :)
-
:P I am I'm on 07 papers now-thanks whenever you can that would be aweeeesome tyvm :)
-
is this paper only 30 questions?
-
is this paper only 30 questions?
Yea CIE changed format.. nw its 30 questions and 45 mins
-
omg i hav the same question!
and i think ders smthng rong wid da mark scheme of may 04 in this website? its weird :S
it IS weird i was just doing this paper. some answers were like WAT?? especially the one about the substitute and the limited seats one
the supply is fixed so its vertical-demand is relatively inelastic-lol I got it wrong because i put supply infinite because I did it too fast^^
I have another question-whats a 'basis of taxation' or a 'tax base'? and what are commission payments?
and what is 'current income balance' and 'current transfer balance' well maybe what's the difference might be better-I know its related to BOP but...yeah help would be appreciated thanks :)
anyone know any of these?? pleease haha :)
er ill take ahot at some of it.
No idea what a tax base is, i suggest you google it :P sorry
Commission payments are (if theyre the ones we do in business) a method of rewarding employees in addition to their salary, the employee gets a certain fixed % from every sale they conduct, its one of the many ways to reward employees who can also be rewarded by e.g. pay by performance, fringe benefits, promotion etc.
Current income balance is as you may have guessed :P the balance on incomes. It comes after the balance of services in the structure of the current account and is a balance of inflows (wages paid to citizens working abroad, + interests and dividends earned by citizens on abroad investments) and outflows (wages paid to workers temporarily working in the country, + profits/dividends/interest to overseas firms investing in UK.
Current Transfers Balance comes after current income balance in structure and is a balance of inflows e.g. subsidies received from European Union, and outflows such as taxes and excise duties paid to the EU.
note: inflows are also called credits and outflows are also called debits :P
hope that helped =)
-
Hmh-please do you know??
Basis of taxation:
The government needs money to pay for public expenditure. Revenue can be raised thru taxation, national insurance contributions, borrowing, charging for serices or by selling off state-owned assets.
Taxation:
- To raise money to pay for government spending.
- To discourage people from buying harmful goods such as cigarettes.
- To influence the level of total demand in the economy.
Principles of taxation:
- A tax should be certain so that everyone knows the amount, method and time of tax payment.
- A tax should be convenient so that tax collection is at a time and in a form suitable to the payer.
- A tax should be economical with the cost of collection representing only a small part of the revenue raised.
- A tax should be equitable (fair) so wealth pay more than poor.
- A tax should not act as a disincentive and stop people from working.
Main types of taxes: Income tax, VAT ( Value Added Tax) this tax is on spending, Duties (on luxury goods), Council tax, Corporation tax (tax on property).
phew...thts everything about taxation! ;D
Hope it helps :)
-
Thank you so so so so so so so so much :D
+rep whenever I see your name mate ^^ ;D
-
Thank you so so so so so so so so much :D
+rep whenever I see your name mate ^^ ;D
lol..tht isnt fair on others i guess :P. Thanks m8 :)
-
Help me please
Whats the answer for Q.36 of paper 3 may/june 2007?
I have the mark scheme but i have a doubt. I think it should be A
Please reply
-
Help me please
Whats the answer for Q.36 of paper 3 may/june 2007?
I have the mark scheme but i have a doubt. I think it should be A
Please reply
Reduction of quota means high quota = 23,000 goods allowed, low quota = 10,000 goods allowed.. so now less can be imported. Thats the answer... and why not others.. tax is abt tariff not quota so cant be tht.., as theres no tax mentioned so means no gov. revenue wil decline.. the balance of trade will be better as less imported now.
-
How much do you guys usually get on multichoice? Out of 40? :)
-
my doubts from may 2003
no 9,14, 25, and 23.
thank you sooo much!
and guys, wts the difference between external and internal economies to scale?
and if employment falls, the tax revenue of the govt falls rite. bt does their expenditure fall as well? i mean wont they increase it to increase aggregate demand and improve the economy?
and wt is diversification in growth of firms?
-
Internal economies of scale is when average costs of the firm falls as the firm grows in size (optimum size). eg Puchasing economies, financial economies etc
External economies of scale is a situation in which growth in an industry causes average total cost for the individual firm to fall as a result of some factor external to the firm. It corresponds to a downward-sloping long-run industry supply curve.
If employment falls, govt revenue falls as they receive less from taxation and their expenditure rises as they have to pay unemployment benefits.
Diversification is when the firm sells other products apart from its main selling product. eg if a company was set up to sell bottled water, they also sell juices, milk etc
Hope that helped! All the best! =)
-
Internal economies of scale is when average costs of the firm falls as the firm grows in size (optimum size). eg Puchasing economies, financial economies etc
External economies of scale is a situation in which growth in an industry causes average total cost for the individual firm to fall as a result of some factor external to the firm. It corresponds to a downward-sloping long-run industry supply curve.
If employment falls, govt revenue falls as they receive less from taxation and their expenditure rises as they have to pay unemployment benefits.
Diversification is when the firm sells other products apart from its main selling product. eg if a company was set up to sell bottled water, they also sell juices, milk etc
Hope that helped! All the best! =)
thank you soo much!!
+rep for u :)
-
is this paper only 30 questions?
Yea CIE changed format.. nw its 30 questions and 45 mins
Really :| ?
This is Weird ! Does this mean that the Qs will be more harder ???
-
is this paper only 30 questions?
Yea CIE changed format.. nw its 30 questions and 45 mins
Really :| ?
This is Weird ! Does this mean that the Qs will be more harder ???
That's a possibility. But I'm guessing it's because now the people who would originally do core are doing the same paper... :-\
-
is this paper only 30 questions?
Yea CIE changed format.. nw its 30 questions and 45 mins
Really :| ?
This is Weird ! Does this mean that the Qs will be more harder ???
That's a possibility. But I'm guessing it's because now the people who would originally do core are doing the same paper... :-\
not necessarily, the structured questions werent really any easier than previous years!
less questions just means every mistake carries a large percentage with it!
-
nope there 40 qs as normal
who ever gave u this info about 30 qs is WRONG
-
No it's right. There were only 30 questions.
-
says there are 30 qns in syllabus...so it must be right.
howd u find the exam ni? (was it hard or easy) dont go into any detail or any question til 24 hrs r up...just was it good or not =p
-
I wont go into any detail, but I will say, I finished the exam in just 8 minutes flat.
-
Haha I didn't finish the exam in eight minutes like pocket-protector but it wasn't too hard I don't think.
What about you? :)
-
Yup no details jst yet.. but it was a good exam :)
-
nope there 40 qs as normal
who ever gave u this info about 30 qs is WRONG
Dude..Its 30 Q for 45 mins..
MCQ's..
KuNzI
-
Guys heres A question:
1) What determines why some people earn more than others? (15)
See the marks in the bracket...Can anyone ans now?
-
Guys heres A question:
1) What determines why some people earn more than others? (15)
See the marks in the bracket...Can anyone ans now?
some factors influence..
Qualification: Some ppl study for longer to become something better and thus get a better paid job.
Immobility: some ppl are willing to travel to other places to find a better paid job and some doesnt like to leave their family and friends so thus stay at currect job and get paid wat they are..
Social: this is working hours.. or type or job.. risky ? easy? hard? unsocial hours like midnight duties? tht makes a difference in wage.
3 factors : identify= 3 marks, explaination and examples=8 , relevance to case study = 3 marks.
hope tht helps :)
-
Guys heres A question:
1) What determines why some people earn more than others? (15)
See the marks in the bracket...Can anyone ans now?
some factors influence..
Qualification: Some ppl study for longer to become something better and thus get a better paid job.
Immobility: some ppl are willing to travel to other places to find a better paid job and some doesnt like to leave their family and friends so thus stay at currect job and get paid wat they are..
Social: this is working hours.. or type or job.. risky ? easy? hard? unsocial hours like midnight duties? tht makes a difference in wage.
3 factors : identify= 3 marks, explaination and examples=8 , relevance to case study = 3 marks.
hope tht helps :)
The points which you gave were accurate and I have mentioned those..but firstly its not an case study..so no relevance..i think we have to mention 5 points at least..it even can be if the demand for workers in that field is more are the supply is less then the works are tend to ask for higher salaries and then employers will have to pay it to them..
-
2008 oct.nov Question 1 (c) ii)
COuld you please draw the demand and supply curves for bothe products X and Y. Thanks.
-
2008 oct.nov Question 1 (c) ii)
COuld you please draw the demand and supply curves for bothe products X and Y. Thanks.
In a few hrs..
-
In a few hrs..
Thanks nid
-
I can't find the paper in my folder
Plz upload it
-
Here
-
Complementary goods
-
Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx ;D
-
Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx ;D
its good to be back lol!
Will do in few hrs :)
-
Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx ;D
-
looool This topic is for Economics Dude 321...and he asked about Macreconomics..not Macrmolecules.. :P
Thanks for helping anyways
-
looool This topic is for Economics Dude 321...and he asked about Macreconomics..not Macrmolecules.. :P
Thanks for helping anyways
whats up with the quote ???
i quoted dude321 and it came empty ???
oh lool, i realized dude 321, wrote everything in the quote and wrote nothing in his post...
-
Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx ;D
http://thenightdreamer.wordpress.com/
-
Hello I need help with a question
It's MJ 2009 paper 2, Q2
How might knowledge of price elasticity be of use to a producer? [6 marks]
Please answer with as many details as possible.
Much appreciated. :D
-
I gave this very paper to get an A* :D
But u won't expect me to remember...ill think of all the possible advantages and put them down... :)
-
Hello I need help with a question
It's MJ 2009 paper 2, Q2
How might knowledge of price elasticity be of use to a producer? [6 marks]
Please answer with as many details as possible.
Much appreciated. :D
Hey,
1. It will help them to determine which potential product's prices can be increased, in order to increase total revenue earned.
2. It can also be useful for producers to understand which products can be relied on, i.e. which ones will provide the company with a steady flow of revenue.
However, it has limitations,
1. It can only provide information about whether the revenue will increase or not regarding price, and does not take into account external effects.
There are more, but I believe these should be enough, and I dont have time.
-
Construction of RPI
1 ) Selection of goods - it's nearly impossible to calculate the price changes of all the goods and services, so a basket of about several 100 goods are selected, these goods must be the goods that are used by an average family.
2 ) base year - this must be a normal economic year in which there are no political or economical imbalances. base year is taken as standard year with which rest of years prices are compared. price level in base year is represented by 100.
3 ) collection of data - statistical department of govt. collects info about the prices in the base year as well as current year (the year whose price level is supposed to be found) info is gathered from price-lists, newspapers, cooperative societys office, etc.
4 ) assigning weight - patterns of expenditure are different for different goods, ppl spend more on some goods and less on others. more weight shud be given to those goods that are being used relatively commonly.
weight= expenditure on the good/total expenditure
5 ) Index (prive relatives) are calculated by:-
INDEX = current year price/base year price X 100
6 ) Weighted Index is calculated:-
WI = weight X index
7 ) RPI = total weighted index/total weights
8 ) RATE OF INFLATION is calculated by takin % changes in current year average prices, i.e, RPI of current year to the base year average prices
Rate of inflation = (RPI (current) - RPI (last year))/RPI (last year)*100%
Hope that helped.
How accurate is the above answer on how to calculate inflation ? Are there any errors ?
-
Hey the answer on how to calculate RPI seems quite accurate to me. If you want further details then ask your eco teacher. ;)
-
Hey the answer on how to calculate RPI seems quite accurate to me. If you want further details then ask your eco teacher. ;)
To put it simply; She sucks.
-
To put it simply; She sucks.
Hey, I found the info was useful so that was my comment. You asked for help and ashisonline helped you, at least appreciate it. No need to be rude like that.
Like I said, if you are not satisfied with the answer provided then ask your teacher.
-
Hey,
1. It will help them to determine which potential product's prices can be increased, in order to increase total revenue earned.
2. It can also be useful for producers to understand which products can be relied on, i.e. which ones will provide the company with a steady flow of revenue.
Hey thanxx. If I develop the answer that should only give me about 3 or 4 marks, does anyone has any more ideas on this question? "How might knowledge of price elasticity be of use to a producer?" It's worth 6 marks :o
Thanxx in advanced ;)
-
Hey, I found the info was useful so that was my comment. You asked for help and ashisonline helped you, at least appreciate it. No need to be rude like that.
Like I said, if you are not satisfied with the answer provided then ask your teacher.
You misunderstood. I was referring to my economics teacher when I said To put it simply; She sucks.
I didnt mean you or ashisonline sucked, all I intended to say was that my econ teacher is pretty useless.
Peace.
-
You misunderstood. I was referring to my economics teacher when I said
I didnt mean you or ashisonline sucked, all I intended to say was that my econ teacher is pretty useless.
Peace.
Oh I'm so sorry :o I thought you meant either me or ashisonline sucks. A huge apology :'(.
If your teacher is not that great then I'd recommend you use this site as revision guide for economics. I find it quite helpful.
Economics GCSE: http://www.tutor2u.net/revision_notes_economics_gcse.asp
Hope it helps ;)
-
Oh I'm so sorry :o I thought you meant either me or ashisonline sucks. A huge apology :'(.
If your teacher is not that great then I'd recommend you use this site as revision guide for economics. I find it quite helpful.
Economics GCSE: http://www.tutor2u.net/revision_notes_economics_gcse.asp
Hope it helps ;)
Nah, its alright :) Yeah, already looked at that site. Pretty good. Im ready for economics, how about you ?
-
Nah, its alright :) Yeah, already looked at that site. Pretty good. Im ready for economics, how about you ?
Wow, that's a lot of confident :D Hey if you're ready for eco, then perhaps your teacher is not bad at all.
I'm ready to get an A for Economics, but not ready for A*. My aim for Eco is A* so still need more practice :D, especially with paper 3. ;)
-
Wow, that's a lot of confident :D Hey if you're ready for eco, then perhaps your teacher is not bad at all.
I'm ready to get an A for Economics, but not ready for A*. My aim for Eco is A* so still need more practice :D, especially with paper 3. ;)
Yeah Paper 3 is a @!#*! but its become easier from 2009 onwards.
By the way Urich and I are the same people. ;)
-
Yeah Paper 3 is a @!#*! but its become easier from 2009 onwards.
By the way Urich and I are the same people. ;)
Lol, you have 2 different accounts?
How do you know that paper 3 has become easier from 2009 onwards? Haven't tried the ones from 09 yet, but the questions of the ones from previous years are very ambiguous and incomprehensible.
-
Lol, you have 2 different accounts?
How do you know that paper 3 has become easier from 2009 onwards? Haven't tried the ones from 09 yet, but the questions of the ones from previous years are very ambiguous and incomprehensible.
Try the 2009's and you'll see ;)
-
Try the 2009's and you'll see ;)
I don't think that paper 3 will be easy from 2009 onwards. I just tried paper 3 mj 09 this morning and got very high mark 97% ;D, I mean the best mark I've ever got so far for p3. I do agree with you it was easy, but if you tried other subjects as well, like English First Language, ICT, Maths IGCSE, etc. Last year exams, all of them were damn easy. Seriously. I already took IGCSE Maths last year and was very surprised by how easy it was.
-
If its harder this year the grade threshold will be wider; more chance to get into an A-A*
-
Heyy guys.
I'v been preparing for my economics exam. doing past papers and all that. But yooo i got a problem:
I do past papers, and write like really long answers and stuff, the content that i answer my question with is correct, but when i check my answers with the marking scheme, they have given some different answers. But what i had written isnt wrong... just different... will i get it wrong when i write something like that on the exams? or will they consider my answer?
Thank you people!
-
Heyy guys.
I'v been preparing for my economics exam. doing past papers and all that. But yooo i got a problem:
I do past papers, and write like really long answers and stuff, the content that i answer my question with is correct, but when i check my answers with the marking scheme, they have given some different answers. But what i had written isnt wrong... just different... will i get it wrong when i write something like that on the exams? or will they consider my answer?
Thank you people!
According to what I know, since the mom of my Geography teacher used to be an CIE'S IGCSE examiner for Economics, the examiners marking your eco papers are specialised in Economics so when they mark, there won't be any mark scheme available for them.
They have to mark according to their knowledge & understanding. The mark scheme for Economics will be released when the examiners have finished marking all the papers, so it'll contain the general answers of the best candidates (A* students). So if your answer is not on the mark scheme, you'll might as well have chance of getting marks. To make sure, give your papers to your economics teachers. :D
-
Thats great to hear! Thanks a billion. ;D ;)
i got everything down, now just gotta study. but i doubt it'll be all that hard... just scared for paper 2. everything else is aite!
-
what is the difference between a regressive tax and progressive tax?
-
what is the difference between a regressive tax and progressive tax?
a regressive tax: percentage of tax taken from income decreases as income rises. These are indirect taxes. E.g. VAT, green tax etc.
a progressive tax: percentafe of tax taken from income increases as income increases. These are the direct taxes; Income tax, value added tax etc.
hope i helped :D
-
Thats great to hear! Thanks a billion. ;D ;)
i got everything down, now just gotta study. but i doubt it'll be all that hard... just scared for paper 2. everything else is aite!
Yea I'm doing Economics exams this year as well. Good luck to both of us ;)
I'm a bit worried about paper 3 though, any suggestions?
-
I dont uderstand regressive tax. I mean isnt is somehow unfair? cz people with lower income have a higher percentage of tax taken from their income, while people with higher income have lower percentage of tax taken from their income. This causes the people on lower income to have a smaller disposable income, which reduces their purchasing power. My point is, what is the government trying to achieve by this tax?
-
I dont uderstand regressive tax. I mean isnt is somehow unfair? cz people with lower income have a higher percentage of tax taken from their income, while people with higher income have lower percentage of tax taken from their income. This causes the people on lower income to have a smaller disposable income, which reduces their purchasing power. My point is, what is the government trying to achieve by this tax?
According to what I know, a regressive tax is a tax unrelated to income that bears hardest on those least able to pay.
The result is that the average rate of tax is greatest for those on lower incomes. Regressive taxes rarely are designed specifically to have this effect – but they have such a result because of the spending patterns and choices of the people affected by such taxes which is reflected in the percentage of their incomes allocated to specific goods and services.
Examples to use in an exam answer might include:
• The tax on national lottery tickets
• Excise duties on smoking and alcohol – betting and gaming duties
-
ohk it makes sense now . but you said that regressive tax is unrelated to income. i understand that its not tax on your income, that is income tax but when u pay a V.A.T you pay that from your disposable income right?
-
But when u pay a V.A.T you pay that from your disposable income right?
Glad it helps you ;) Yup you pay VAT from your disposable income.
-
Glad it helps you ;) Yup you pay VAT from your disposable income.
Thanks again ;D
-
Yea I'm doing Economics exams this year as well. Good luck to both of us ;)
I'm a bit worried about paper 3 though, any suggestions?
Yup yup, good luck to the both of us :)
Dont fret over paper 3. I feel that paper 2 is much more challenging than paper 3. Paper 3's much shorter, and the questions are relatively specific so you know what you are expected to write. But then again, Paper 2 is also easy cause you can chose which questions you wanna write. haha.
Conclusion: no worries at all! haha :D
-
Conclusion: no worries at all! haha :D
Haha, you seem pretty confident. ;D
-
Haha, you seem pretty confident. ;D
just not to be over confident or else everything your gona write will seem very good but instead it will be not even answering the question :P
Good luck :)
-
According to what I know, a regressive tax is a tax unrelated to income that bears hardest on those least able to pay.
The result is that the average rate of tax is greatest for those on lower incomes. Regressive taxes rarely are designed specifically to have this effect – but they have such a result because of the spending patterns and choices of the people affected by such taxes which is reflected in the percentage of their incomes allocated to specific goods and services.
Examples to use in an exam answer might include:
• The tax on national lottery tickets
• Excise duties on smoking and alcohol – betting and gaming duties
Hmm not really no. Firstly you must understanding that taxation is essentially the essence of fiscal policy. The macroeconomic objectives of a government is to redistrubute income and achieve balanced budget. In order to do this a steeper progressive tax rate is imposed, also by increasing the average tax rate the government would have more government revenue, which could hopefully reduce budget deflicit or increase budget surplus. Also by increasing government expenditure the government can afford to employ more, which could reduce the unemployment rate and help to achieve full employment. But there is a clear contradiction here, as the government also intends to achieve trade balance and promote economic growth, in supply side policy the government tends to reduce the corporation tax and indivudal tax to increase the aggregate supply and disposable income, which would lead to economic growth.
Apart from corporation tax and income tax. There are indirect tax of which the producer can shift the burden to consumers, an example would be excise duties. Also we have got tariff which is imposed on foreign producers, as the imports are becoming more expensive, this would lead to more domestically made products being consumed.
-
Does anybody have any notes on the functions of central banks, commercial banks & stock exchange?
Thanxx :D
-
This might help you :D
-
This might help you :D
I already have that :P The notes in here are very brief. Do you have more comprehensive notes on the functions of central banks, commercial banks & stock exchange?
-
lol u just sucked me dry :P
-
lol u just sucked me dry :P
Sorry :-\
-
lol not in a bad way. lol in like a funny way :P as in... i got no more, sorrry :)
-
lol not in a bad way. lol in like a funny way :P as in... i got no more, sorrry :)
Sorry again :-\ Because in my school, the notes given are very comprehensive and my teacher always asks for a lot of details in our work. I was absent when we did this so missed out the notes.
You see, my teacher already gave us the attachment you posted. He said that the notes of the file won't help much with economics exams, since paper 2 the examiners ask for a lot of details. My eco teacher used to be a CIE examiner for Economics :D
If you could help, then that would be great. :D Otherwise, I guess I would have to see him on Monday
-
Sorry again :-\ Because in my school, the notes given are very comprehensive and my teacher always asks for a lot of details in our work. I was absent when we did this so missed out the notes.
You see, my teacher already gave us the attachment you posted. He said that the notes of the file won't help much with economics exams, since paper 2 the examiners ask for a lot of details. My eco teacher used to be a CIE examiner for Economics :D
If you could help, then that would be great. :D Otherwise, I guess I would have to see him on Monday
Central Bank
- Sets the interest rate
- Sets the standardised currency (In some countries the central bank issues the currency)
- Government's banker
- Regulating banking industry
- Manages the country's foreign reserve and gold reserve
- Lender of last resort
Commercial Banks
- Issuing bank cheques and bank drafts
- Accepting term deposits
- Lending money (e.g. mortgage, overdraft, credit cards)
- Selling financial products (e.g. insurance, stock brokerage)
- Safe deposit boxes
- Investment banking (Provides banking advice for welathy indivudals)
- Cash management (Provides banking service for shop owners)
Stock Exchange
A platform which enables buyers and sellers to trade shares of a listed company, it is also a means of finance for a public limited company.
-
somebody explain this in detail pleasee
> describe and evaluate the effects of changes in structure of business organisations.
is it asking for the benefits and disadvantages of, for instance, changing from a sole proprietorship to a public limited company?
thankyou.
-
somebody explain this in detail pleasee
> describe and evaluate the effects of changes in structure of business organisations.
is it asking for the benefits and disadvantages of, for instance, changing from a sole proprietorship to a public limited company?
thankyou.
Yes. In your example if you are converting from a sole trader to a public limited company. The advantages and disadvantages would be as follows :
Advantages :
- More capital as shares of the company can be traded on the stock exchange
- Continuity as even when the original owner dies, the company can pass on
- Separate legal entity (i.e. owner cannot be sued)
- Limited liability (i.e. shareholders can only lose their principle)
- Owner does not have to work long hours
Disadvantages :
- Needs to disclose financial account to public
- Original owners may lose control of the company
- Company is run by a director appointed by the shareholders
- Needs to hold AGM (Annual general meeting)
- Longer decision making time as company matters needs to be voted
In practice you will need three each, the question has appeared as a 6 marks question in the 09 June paper.
-
hey there guys,
this thread's pretty useful!
now for a more general (and troublesome) question:
HOW ARE YOU GUYS STUDYING FOR PAPER 3 THIS FRIDAY IF EXTRACTS ARE NOT PROVIDED ONLINE FOR THE PAST PAPER 3'S?!?!?
Extracts are provided online.
If you can't find it, just tell me the year and I'll upload them up for you ;)
-
Extracts are provided online.
If you can't find it, just tell me the year and I'll upload them up for you ;)
09 November, thanks :D
-
09 November, thanks :D
Nov 09 Paper 3 Insert :)
Good luck!
-
I saw a post on the other page saying Paper 3 is not to be worried about, or something like that...
Well, actually, I disagree. Yes, Paper 3 is only 30% weightage when compared to the 50% weightage of Paper 2...but
I feel Paper 3's even more important than Paper 2. Look at the grade thresholds, (09 in this example) and you'll see that the GT for an A grade is 50/80. Look at Paper 3 and the GT for an A is 31/40.
And i heard that there aren't curves this year...Well if there aren't its even worse! A 35/40 in Paper 3, would bring your total percentage down to 96.25%...
Here's the formula I'm using:
[(35/40 * 0.3) + (80/80 * 0.5) + (30/30 * 0.2)] * 100
So yeah...I don't think you should be losing more than 2-3 marks in Paper 3 if you want an A* in eco, which means Paper 3 is pretty important (IF THERE AREN'T CURVES)!
-
Here's the formula I'm using:
[(35/40 * 0.3) + (80/80 * 0.5) + (30/30 * 0.2)] * 100
So yeah...I don't think you should be losing more than 2-3 marks in Paper 3 if you want an A* in eco, which means Paper 3 is pretty important (IF THERE AREN'T CURVES)!
Yes that's why I'm really worried about paper 3. Since this week is very hectic for me with all sort of exams and I'd be dead tired after 3 exams on Thursday :-[.
Oh well, I'll try my best to cram in mostly all important things for paper 3, if I still have any energy left... :-\
-
Discuss the government's influence on private producers in terms of regulation, subsidies, and taxes.
-
Yes that's why I'm really worried about paper 3. Since this week is very hectic for me with all sort of exams and I'd be dead tired after 3 exams on Thursday :-[.
Oh well, I'll try my best to cram in mostly all important things for paper 3, if I still have any energy left... :-\
Yeah it actually makes a huge difference on your grade! :S Oh I have Phy Paper 4 and French Paper 4...You?
Lol yes I hope we do well :)
-
Discuss the government's influence on private producers in terms of regulation, subsidies, and taxes.
I'm guessing you use the Eco book authored by Bryan Titley, and if you do check Chaper 15
-
Yeah it actually makes a huge difference on your grade! :S Oh I have Phy Paper 4 and French Paper 4...You?
Lol yes I hope we do well :)
Yea, hope so. Gosh, on Thursday, I have 4 (easy), Geo p2 (easy), but Coordinated Science where I have to cram in all 3 Science God damn it. I regret taking though, I should have chosen single award instead. Oh well, I'll try my best :P
-
Yea, hope so. Gosh, on Thursday, I have 4 (easy), Geo p2 (easy), but Coordinated Science where I have to cram in all 3 Science God damn it. I regret taking though, I should have chosen single award instead. Oh well, I'll try my best :P
Ughh saddd...Good luck! :)
-
Nov 09 Paper 3 Insert :)
Good luck!
thanks man i like owe you my life.
-
thanks man i like owe you my life.
Lol :P
-
Discuss the government's influence on private producers in terms of regulation, subsidies, and taxes.
It has once appeared as a 10 marks question in 09 June Paper 2. In order to attain all 10 marks, you must first define tax, subsidy and regulation and give seven examples.
Tax : Charge imposed upon private producer.
- Excise duty levied upon production of de-merit goods.
- Corporation tax levied upon producers.
- Tariff imposed upon foreign producers.
Subsidy : Payments made by the government to the private producer.
- Subsidy for infant industries.
- Subsidy for SME.
- Subsidy for domestic exporters.
Regulation : Laws that private producers must follow.
- Red-tape imposed upon foreign producers.
- Pollution laws.
- Tougher worksite safety requirment.
- Stricter product quality inspection.
- Minimum amount of domestic workers employed.
-
Hey, can anyone help me find the Insert for the Economics Paper 3 of Novemeber 09?
It's not on FEP :/
-
Hey, can anyone help me find the Insert for the Economics Paper 3 of Novemeber 09?
It's not on FEP :/
I've already posted it as an attachment :) On this same topic, go to the 18th page, and you will be able to see an attachment called 'Nov 09 Insert' on the 4th post from the bottom.
Look through the whole topic before you ask, most of the time, the stuff is already there :P :D
-
I've already posted it as an attachment :) On this same topic, go to the 18th page, and you will be able to see an attachment called 'Nov 09 Insert' on the 4th post from the bottom.
Look through the whole topic before you ask, most of the time, the stuff is already there :P :D
Sorry, will do. & thanks! :D
-
tomorrow is paper 3 for igcse any suggestions abt the topics most important?
-
How are specialization and the division of labor different from each other?
Division of labour means dividing a job into many specialist tasks.
Specialisation
Advantages :
- Increase in productivity
- Improvement in skills of the specialist task- Increase in wage
Disadvantages :
- Boredom as the worker is repeating the same process
- Does not feel the accomplishment of completing a product
- Inter-dependence on other workers
-
Explain what is meant by economic growth. (for 5 marks)
someone?
- Increase in gross domestic product per capita
- Increase in net income per capita
- Decrease in unemployment
- Increase in general price level
- Increase in volume of exports (X)
- Increase in level of investment (G)
- Increase in government expenditure (G)
- Increase in consumer spending (C)
- Decrease in volume of imports (M)
- Increase in resource depletion
GDP : C + I + G + X - M
-
Can any1 help me.....By tellin me how to study for paper 3 economics tomorrow...i really want to do good...and which papers do u recomend me to solve?????
-
oh & also.... 2 questions:
1) how is an INCREASE/decrease in demand different from an EXTENSION/contraction of demand?
2) how is an INCREASE/decrease in supply different from an EXTENSION/contraction of supply?
if anyone could explain this clearly it would be muchhh appreciated.
-
can anyone CLEARLY differentiate between public and merit goods?
sorry for all the questions, just clearing up the minor basic fundamentals...
Merit good : Social benefit > Private benefit
Public good : Non-rival, non-excludable.
-
oh & also.... 2 questions:
1) how is an INCREASE/decrease in demand different from an EXTENSION/contraction of demand?
2) how is an INCREASE/decrease in supply different from an EXTENSION/contraction of supply?
if anyone could explain this clearly it would be muchhh appreciated.
Increase / Decrease involves a shift in the curve, this may be due to a number of factors. On the other hand, an extension and contraction of the demand and supply curves is solely due to a change in price.
-
Factors that causes a shift in the demand curve :
- Fashion, habits
- Substitutes
- Complements
- Disposable income
- Population
- Income (normal / inferior goods)
Factors that causes a shift in the demand curve :
- Business optimism
- Cost of production
- Price of other goods
- Technological advancement
- Global factors
-
does a very high GDP per capita indicate a favorable balance of payments?
......not necessarily, right??
-
for economics: can anyone help me out with M/J paper 6, question 1c.
i SUCK at drawing demand and supply graphs. how do you guys do it???
ahhh i'm hoping and praying we won't have to do one on paper 3 tmrw Sad i will end up screwing it. bigggg time.
p.s i checked the mark scheme. it is no help. as usual. i'm attaching the paper though
thank youuuuu
-
does a very high GDP per capita indicate a favorable balance of payments?
......not necessarily, right??
no, it doesn't necessarily,
because if theres alot of output produced in the country, there might also be other factors such as the country consumes all the output and not much left to export,
however, under the other conditions they have given you,
like if everything else is constant, then you can safely say that a high GDP per capita leads to a favourable balance of payments as more is exported.
you can also think about the fact that, even if a lot if produced within an economy, more might be imported from other economies, and if that import is greater than that export they are worse off producing,
the GDP per capita doesnt take into account imports :)
hope that helps.
-
truetruetrue...
ok thank you! that makes sense :)
wait but wait, what do you mean by "if all other conditions remain constant"
like what other conditions?
-
for economics: can anyone help me out with M/J paper 6, question 1c.
i SUCK at drawing demand and supply graphs. how do you guys do it???
ahhh i'm hoping and praying we won't have to do one on paper 3 tmrw Sad i will end up screwing it. bigggg time.
p.s i checked the mark scheme. it is no help. as usual. i'm attaching the paper though
thank youuuuu
hello,
i've attached a demand and supply graph,
sorry im really bad at paint :D,
basically this graph is showing a decrease in demand for it while the supply stays the same, keep in mind that shares never have a decrease in supply as it is fixed. The decrease in demand is showing that the Price has gone down,
hope this helps.
-
hello,
i've attached a demand and supply graph,
sorry im really bad at paint :D,
basically this graph is showing a decrease in demand for it while the supply stays the same, keep in mind that shares never have a decrease in supply as it is fixed. The decrease in demand is showing that the Price has gone down,
hope this helps.
Ahhhh that makes sense. +rep :)
-
truetruetrue...
ok thank you! that makes sense :)
wait but wait, what do you mean by "if all other conditions remain constant"
like what other conditions?
basically, you dont have to place the fact that other conditions remain constant in your examination,
however keep in mind that all the goods and services produced at this moment must stay the same, and so you can determine the balance of payments and also imports. You can also argue that the inflation levels must stay the same because an increase in inflation would lead to a decrease in demand for exported goods and services which makes it less favourable. So keeping inflation levels stable, there are many other factors that you can argue with :)
Good luck if you have paper 3 tommorow :),
Just 1 advice, Dont use words like "could" or "should" or "would"
be confident to the examiner and use things like "this will lead too" or something along the lines of that.
-
does a very high GDP per capita indicate a favorable balance of payments?
......not necessarily, right??
Actually it does. GDP is calculated by the equation C + I + G + (X - M), X represents exports.
However in IGCSE they do not expect you to know this equation, so best if you stick with an overall surplus in the goods and service, income and current transfer accounts combined.
-
okaaaay so it's kind of like "substitution"? lol for lack of a better word
i mean ok so you're right it makes sense that supply is fixed, and they've told you that share prices went down, so it's like you have to figure out what CAUSED them to go down? and the only thing that could have is a decrease in demand.
right? is that how you figured it out?
By the way thank you!!!!!!!! +rep
good luck for tomorrowwww :)
i wouldnt really call it subsitution, but if that helps you understand it, i guess so.
By the way!! not every question has a fixed supply, sometimes you have to move the supply instead of the demand.
In this case the supply is fixed, because the only thing that is shifting is the demand.
as you can see on the graph the demand curve moves to the left so it decreases in demand.
you are showing the price as decreasing because
as you can see the first price line, is going down to the second price line showing a decrease in demand.
i've attached another graph for more clear understand i forgot to put this on the first graph sorry.
-
Hey guy. I need all the inserts for the paper 3's. I dont have any! can someone please direct me to a site or something. Thank you :)
-
How do we revisie for this? the paper 3s are messed up, theres no paper 3 for other years ???
Anyone know how to revise?
-
exam is exactly like other years but you have to write on the book let.Do some practise of these questions
(WHAT DO YOU NEED TO KNOW.....)
these are allocated the highest marks so it would be wise to do them.
-
exam is exactly like other years but you have to write on the book let.Do some practise of these questions
(WHAT DO YOU NEED TO KNOW.....)
these are allocated the highest marks so it would be wise to do them.
What is GDP per capita
I am not sure about this defination
-
What is GDP per capita
I am not sure about this defination
GDP is gross domestic product, it is basically the value of the amount of goods and services produced in an economy over a period of time. GDP per capita is GDP in relation to population, it is the value of the amount of production done by one person in the country.
-
Good luck for today/tommorow everyone!
My exam is in 5ish hours but I have another exam before that.
I hope the papers easy for all of you and you all get great results
:)
-
Good luck for today/tommorow everyone!
My exam is in 5ish hours but I have another exam before that.
I hope the papers easy for all of you and you all get great results
:)
I did economics IG in 2009 June
I got a Big simple B
Need to get an A star so i am repeating.
Thanks By the way
-
GDP is gross domestic product, it is basically the value of the amount of goods and services produced in an economy over a period of time. GDP per capita is GDP in relation to population, it is the value of the amount of production done by one person in the country.
REAL GDP per capita, nominal GDP per capita does not put into account of inflation, hence it would prevent economists in determining whether real growth has taken place ...
-
Hey guys, just did eco p3.
It was fairly easy though, easier than I expected. So chill out :D
-
Back from Paper 3 an hour ago, would say that I have a shot at Top in the World for Economics :D
-
Back from Paper 3 an hour ago, would say that I have a shot at Top in the World for Economics :D
Haha. Amazing, how was it?
-
Haha. Amazing, how was it?
My hard work paid off :D Well virtually all my schoolmates, regardless of ability, has written on all the spaces provided :o
-
same here
aiming for world top
-
I just got back from the Eco paper right now... Lol. It was a simple paper, but im not satisfied with what i have written. I was like completely bummed after coming out but after comparing answers, i found out that i had written a lot that so many people hadnt... so i dont know... lol
-
I just got back from the Eco paper right now... Lol. It was a simple paper, but im not satisfied with what i have written. I was like completely bummed after coming out but after comparing answers, i found out that i had written a lot that so many people hadnt... so i dont know... lol
Same here :D But that's a good thing you know ???
-
im expecting a much much harder structured paper compared to this.
-
im expecting a much much harder structured paper compared to this.
Same!
-
paper3 ws damn easy!!
i lost ma economics textbook there yesterday :( nw i dunno hw m i gonna prepare for structured paper....
can sum1 help out?
-
i lost ma economics textbook there yesterday :( nw i dunno hw m i gonna prepare for structured paper....
can sum1 help out?
Use your notes throughout the year ;)
-
i don't hv any notes for it :(
-
i don't hv any notes for it :(
OMG Seriously? I mean don't you teachers give you notes or haven't you been taking notes during the course for 2 years :o? I mean do you just learn base on your textbook only? ???
If so, then I suggest you check out some eco's revision sites ;).
-
yap...i jz used 2 study from da text...and tht also i lost it in tht exm place :(
i dunno any site where we can get eco revision notez :( do u?
-
Okay people. I need help in one tincy wincy little thing in Economics :
I have no knowledge of income groups and how expenditure patterns differ between income groups.
Anyone feel like helping me ?
-
Okay people. I need help in one tincy wincy little thing in Economics :
I have no knowledge of income groups and how expenditure patterns differ between income groups.
Anyone feel like helping me ?
Yes i can help
repayment for help for explaining in the grading system
First we'll focus on low income
monthly income is low - overall expenditure is low
greater % expenditure on food as they have a low income
greater % expeniture of income on alcohol and de-merit goods
less expenditure on medicine (therefore lesser life expectancy) and on transport as they will tend to use public transport
hardly any luxury goods purchased
Less expenses on Leisure as they can hardly afford
Expenses on education take up a higher percentage of annual income but in some places education maybe free or extremely cheap
High Income
Expenditure high on technology - iPods ,mp3's, blu-ray, laptops, gaming
Expenditure higher on medicine - health check-ups, dental and what not
Transport expenditure(overall) higher as private transport will be used, rather than public transport
More expenditure on communication - internet bills and telephone connections, mobile phones, mobile bills
More expenditure in luxury goods and wants such as leather sofas, designer clothing etc (can also include technology)
Overall greater expenditure on alcohol, cigars and stuff
Greater expenditure on education - private schools, tutors, college etc.
More expenses on leisure activities
Greater expenditure on business activity
Greater expenditure on vacations
Also lesser expenditure on local goods and services
greater expenses on imported goods and services
-
WOAH !!! Thanks a bunch !!! :) +rep
To be honest, I cant remember explaining the CIE grading system to you.... mind jogging my memory ? ;D
-
WOAH !!! Thanks a bunch !!! :) +rep
To be honest, I cant remember explaining the CIE grading system to you.... mind jogging my memory ? ;D
remember man
we were discussing the thresholds and the grades and stuff and then u asked me...who told me to ask u about the grading system and the percentile stuff remember
-
remember man
we were discussing the thresholds and the grades and stuff and then u asked me...who told me to ask u about the grading system and the percentile stuff remember
Oh, yeah. I remember now.
You ready for eco ?
-
Oh, yeah. I remember now.
You ready for eco ?
Yeah man
Need to do more
Tip of advice:
to waste less time during preparations and while practicing past papers
attempt the questions by writing points instead of long answers with sentences and stuff
it wastes less time but during the paper write full sentences
For a question write the no of points in correspondence with marks and provide a decent explanation... and if u cant think of many points...then give a better explanation but always provide an explanation
most importantly link the points in your answer with other important policies,points and other stuff
-
Yes i can help
repayment for help for explaining in the grading system
First we'll focus on low income
monthly income is low - overall expenditure is low
greater % expenditure on food as they have a low income
greater % expeniture of income on alcohol and de-merit goods
less expenditure on medicine (therefore lesser life expectancy) and on transport as they will tend to use public transport
hardly any luxury goods purchased
Less expenses on Leisure as they can hardly afford
Expenses on education take up a higher percentage of annual income but in some places education maybe free or extremely cheap
High Income
Expenditure high on technology - iPods ,mp3's, blu-ray, laptops, gaming
Expenditure higher on medicine - health check-ups, dental and what not
Transport expenditure(overall) higher as private transport will be used, rather than public transport
More expenditure on communication - internet bills and telephone connections, mobile phones, mobile bills
More expenditure in luxury goods and wants such as leather sofas, designer clothing etc (can also include technology)
Overall greater expenditure on alcohol, cigars and stuff
Greater expenditure on education - private schools, tutors, college etc.
More expenses on leisure activities
Greater expenditure on business activity
Greater expenditure on vacations
Also lesser expenditure on local goods and services
greater expenses on imported goods and services
Hmm you should mention normal goods, inferior goods and the saving pattern as well ... The overall level of expenditure in high income group tends to be lower.
-
Hmm you should mention normal goods, inferior goods and the saving pattern as well ... The overall level of expenditure in high income group tends to be lower.
Please elaborate; my textbook and teacher are useless.
Please tell me everything you know.
-
Please elaborate; my textbook and teacher are useless.
Please tell me everything you know.
High income group
Normal goods - Luxury items would be a good example - wants, spend more on it as income increases
Necessities - Milk, bread etc
High income group would tend to spend most of the income on luxury goods, although they would still spend on necessities, the overall level of expenditure tends to be lower.
High income group tend to save more than low income group (explained below)
Low income group
Inferior goods - 56k dial up versus broadband, you would consume less of those as your income increases
Necessities - Milk, bread etc.
Low income group would tend to spend most of the income on necessities, and satisfy a few wants from time to time, they have no spare money to save.
-
High income group
Normal goods - Luxury items would be a good example - wants, spend more on it as income increases
Necessities - Milk, bread etc
High income group would tend to spend most of the income on luxury goods, although they would still spend on necessities, the overall level of expenditure tends to be lower.
High income group tend to save more than low income group (explained below)
Low income group
Inferior goods - 56k dial up versus broadband, you would consume less of those as your income increases
Necessities - Milk, bread etc.
Low income group would tend to spend most of the income on necessities, and satisfy a few wants from time to time, they have no spare money to save.
of course but then he only asked for expenditure patterns
-
of course but then he only asked for expenditure patterns
Please refer to Reply #333 :D
-
Please refer to Reply #333 :D
darren he asked u that
after u told him about normal, inferior goods and the saving pattern
-
darren he asked u that
after u told him about normal, inferior goods and the saving pattern
Its alright people.
Thank you to both of you.
I will +rep you both later on. I cant right now since I have already +reped someone. :D
-
Hey guys, could you help me out with this one: Describe what determines the demand for factors of production.
Thanxx :D
-
Hey guys, could you help me out with this one: Describe what determines the demand for factors of production.
Thanxx :D
Demand for Labour is a derived demand.
Check Pg 229 of Economics a Complete Course By Dan Monyihan. ;)
-
Demand for Labour is a derived demand.
Check Pg 229 of Economics a Complete Course By Dan Monyihan. ;)
Hey Thanxx. Oh WOW you use the same textbook as me :D
By the way, you just change your name? The Lion Son of Canaan :P
-
Hey Thanxx. Oh WOW you use the same textbook as me :D
By the way, you just change your name? The Lion Son of Canaan :P
My old name and my current one mean the same thing. Except my old name was in hebrew ;)
-
i have a question... O/N 2009 paper 1 question 22...
i chose C but apparently its wrong. :-[ Can you please explain why the answer is A??
-
i have a question... O/N 2009 paper 1 question 22...
i chose C but apparently its wrong. :-[ Can you please explain why the answer is A??
For the maximum price to be effective, it must be set below the equilibrium price levels.
A The maximum prices increased demand whilst reducing supply.
Demand curve shifts to the right whilst the supply curve shifts to the left, the equilibrium price would increase.
B The maximum prices reduced demand whilst increasing supply.
Demand curve shifts to the left whilst the supply curve shifts to the right, the equilibrium price would decrease.
C The maximum prices were set above the equilibrium price levels.
Product will be traded at the equilibrium price level.
D The maximum prices were set at the equilibrium price levels.
No infulence on the equilibrium price levels.
-
What is a quick definition of GDP per capita ?
-
What is a quick definition of GDP per capita ?
GDP = amount of goods and services produced by an economy over a period of time, usually a year
per capita = GDP / total population
-
Isnt it the income per head or something ?
What would you write if this were a 4 mark question ?
-
Isnt it the income per head or something ?
What would you write if this were a 4 mark question ?
What you are referring to is called net national income per capita.
-
Last question.
Could you differentiate between; GNP, GDP and NNP ?
Please and Thank You ! :D
-
Last question.
Could you differentiate between; GNP, GDP and NNP ?
Please and Thank You ! :D
GNP - not included. Gross National Product - GDP subtracted by net property transfer from abroad (e.g. rent on properties owned abroad, dividends paid by foreign companies, interest in loans overseas, interest in savings overseas, profits from businesses owned abroad, salary earned when working abroad). Net prpperty transfer from abroad is essentially the same as the income account of current accounts - balance of payments.
NNP - not included as well. Net national product - http://www.investopedia.com/terms/n/net-national-product.asp
-
Isnt it the income per head or something ?
What would you write if this were a 4 mark question ?
Firstly if it were a four mark answer
this would be your answer
the definition is that it is an approximation of the value of output produced in a country per person
can also be referred to as average income earned by an average individual in the economy because the total sale of national output produces the total national income...(Both are relative terms)
Then the formula: total GDP/population
Next its use must be defined
such as it is used as an effective indicator to measure the standards of living in the country
and the obvious conclusion that countries with high GDP per capita are more productive and its standards of living are better. hence such countries tend to be MEDC's
-
can also be referred to as average income earned by an average individual in the economy because the total sale of national output produces the total national income...(Both are relative terms)
I disagree, I think it would be necessary for a candidate to differentiate between the two. GDP - output whereas NNI applies a drastically different methology in ... calculating.
-
For the maximum price to be effective, it must be set below the equilibrium price levels.
A The maximum prices increased demand whilst reducing supply.
Demand curve shifts to the right whilst the supply curve shifts to the left, the equilibrium price would increase.
B The maximum prices reduced demand whilst increasing supply.
Demand curve shifts to the left whilst the supply curve shifts to the right, the equilibrium price would decrease.
C The maximum prices were set above the equilibrium price levels.
Product will be traded at the equilibrium price level.
D The maximum prices were set at the equilibrium price levels.
No infulence on the equilibrium price levels.
Thanks i think i get what you mean
-
Hey guys, can you please help me with this ;)?
Describe the government as a producer of goods & services
Describe the government as an employer
Thanxx :D
-
I disagree, I think it would be necessary for a candidate to differentiate between the two. GDP - output whereas NNI applies a drastically different methology in ... calculating.
Darren..
Economics by Moynihan and Titley for O-Levels and IGCSE
Pg 364
"Gross domestic product per capita, or average income per person, is the most commonly used comparative measure of development".
Truthfully even I would disagree but my Eco HOD says that national output is equated to the national income hence GDP can also be defined as the total income earned by the country..Hence GDP/capita is average income earned by a person
-
Hey guys, can you please help me with this ;)?
Describe the government as a producer of goods & services
Describe the government as an employer
Thanxx :D
- Nationalisation of industries such as defence, electricity that must not be exploited by private producers by means of price manipulation.
- Provider of public goods (non-excludable, non-rival - street lights, radio - firms will be unable to charge users for consumption of those goods), merit goods (citizens would not be able to perceive the benefits of those goods - education, medical care) - private firms lacks incentive in providing those goods as they are not profitable.
- Expansionary fiscal policy involves an increase in government expenditure, this can mean that the government will sponsor the building of infrastructures etc as a means of reducing unemployment and stimulating economic growth.
- The pay of similar jobs in public sector tends to be lower than that of private sector, this can be explained by better pension rights and greater job security.
-
Thanxx a lot Darren, +rep :D
-
Not only this but most govts in LEDC's focus on the primary sector and secondary sectors of employment.
Agriculture and farming is the most important in LEDC's...Most farmers are employed by the govt in most countries.
Mining and also many other occupations are funded and run by the govt but with the change of age privatisation is occuring
Merit and Public goods yeah...discouragement of De-merit goods is also done by the govt..
Steel making also is a very important source of employment..Again steel authorities are publicly run in most countries
but also at the same time there are many private firms employing lots of ppl..
-
Not only this but most govts in LEDC's focus on the primary sector and secondary sectors of employment.
Agriculture and farming is the most important in LEDC's...Most farmers are employed by the govt in most countries.
Mining and also many other occupations are funded and run by the govt but with the change of age privatisation is occuring
Merit and Public goods yeah...discouragement of De-merit goods is also done by the govt..
Steel making also is a very important source of employment..Again steel authorities are publicly run in most countries
but also at the same time there are many private firms employing lots of ppl..
Over dependence on agrictulture is one of the many reasons why LEDCs remain ... well, LEDCs.
Discouragement of consumption of de-merit goods can be achieved by excise duty. Whereas red-tape and tariff will reduce consumption of imported goods ...
Steel authorities are run by the government in the form of a public corporation in many countries in avoidance of monopoly and potential price manipulation ...
-
Over dependence on agrictulture is one of the many reasons why LEDCs remain ... well, LEDCs.
Discouragement of consumption of de-merit goods can be achieved by excise duty. Whereas red-tape and tariff will reduce consumption of imported goods ...
Steel authorities are run by the government in the form of a public corporation in many countries in avoidance of monopoly and potential price manipulation ...
Dude Darren the govts in LEDC are relatively poor compared to MEDC's , hence they cannot afford to spend too much time and money on tertiary sector jobs primarily because they have no idea how to run them...
The governments dont look for a profit motive and as a result...govt's dont run tertiary sector industries....
They do not believe in a profit motive and at the same time have a low budget
-
Why might a government try to redistribute income?
-
Dude Darren the govts in LEDC are relatively poor compared to MEDC's , hence they cannot afford to spend too much time and money on tertiary sector jobs primarily because they have no idea how to run them...
The governments dont look for a profit motive and as a result...govt's dont run tertiary sector industries....
They do not believe in a profit motive and at the same time have a low budget
I am perfectly aware of this ... A lack of capital, infrastructure, education, skills and health care explains why LEDCs cannot undergo industralisation and become ... developed.
-
Why might a government try to redistribute income?
It is a philosophical question LOL. http://en.wikipedia.org/wiki/Distributive_justice#Distributive_justice_and_wealth
-
Why might a government try to redistribute income?
Decrease poverty, Unemployment benefits, new ventures and start-ups in rural areas...
Basically transfer payments
-
Decrease poverty, Unemployment benefits, new ventures and start-ups in rural areas...
Basically transfer payments
I doubt RE: unemployment benefits, in order to stimulate economic growth, the government should reduce the dole (unemployment benefits) as in turn the opportunity cost of not working, i.e. the wage forgone, would appear to be a more tempting option ...
-
Hey guys.
If they ever ask for the Dependancy Ratio, which one do we use, cause there are two.
1. Total Population/Working Population
OR
2. Children + Elders/Working Population
Thank you.
-
Hey guys.
If they ever ask for the Dependancy Ratio, which one do we use, cause there are two.
1. Total Population/Working Population
OR
2. Children + Elders/Working Population
Thank you.
Total Population/Working Population
-
Total Population/Working Population
My geography textbook says otherwise.
-
My geography textbook says otherwise.
Not according to the endorsed economics textbook :D
Well there are two types of dependency ratio, the one that I have illustrated is called the inverse dependency ratio, it enables economists to determine how many people that a worker has to support in a country ...
-
I doubt RE: unemployment benefits, in order to stimulate economic growth, the government should reduce the dole (unemployment benefits) as in turn the opportunity cost of not working, i.e. the wage forgone, would appear to be a more tempting option ...
dude darren..
unemployment benefits are not given to keep ppl unemployed
they are given to help them cope with unemployment until they find a job...
and its mostly done in times of demand deficient or cyclical unemployment.....
and by reducing unemployment benefits... poverty will rise and as a result the overall Aggregate demand will drop as ppl will have lesser to spend...
also by reducing unemployment benefits... ppl will find it hard to find jobs especially in urban areas
-
dude darren..
unemployment benefits are not given to keep ppl unemployed
they are given to help them cope with unemployment until they find a job...
and its mostly done in times of demand deficient or cyclical unemployment.....
and by reducing unemployment benefits... poverty will rise and as a result the overall Aggregate demand will drop as ppl will have lesser to spend...
also by reducing unemployment benefits... ppl will find it hard to find jobs especially in urban areas
But still, high unemployment benefits stop people from working because they tend to enjoy the free benefits they gain. Decreasing them would save tax payers money which in turn could be used for things like hospitals and road, as well as force the unemployed to find employment.
-
But still, high unemployment benefits stop people from working because they tend to enjoy the free benefits they gain. Decreasing them would save tax payers money which in turn could be used for things like hospitals and road, as well as force the unemployed to find employment.
Then again, reduced benefits may lead to external costs such as social problems; homlessness, crime, muggings etc.
-
Then again, reduced benefits may lead to external costs such as social problems; homlessness, crime, muggings etc.
From another angle we can argue that people who are in work would despise those dole-bludgers as they are sponsoring their livelihood with taxpayer's money, this may also result in civil unrest.
-
From another angle we can argue that people who are in work would despise those dole-bludgers as they are sponsoring their livelihood with taxpayer's money, this may also result in civil unrest.
Exactly there are many perspectives toward this dilemma
but choc.kits
unemployment benefits By the way for ur info are not permanent.....and these benefits motivate ppl to get out and find jobs...
and darren
the issue u speak of is very very minor...
cuz no one knows what happens to the money until the govt's budget is produced and the proportion spent on transfer payments is specified...
i dont think ppl who are working..have the time to go argue against the govt do they?
plus the money is being given for a good purpose..
this unrest could occur only if the govt increases the tax rate..and even then this is very unlikely
-
I like this discussion. :)
I hope you understand that there is NO right answer. In paper 4 as long as you give a balanced discussion you get the marks. ;)
-
Hey, whats the Cost benefit analysis?
-
Hey, whats the Cost benefit analysis?
An analysis performed by the government to evaluate the possible externalities (social cost and social benefit) of a certain act.
-
Economic growth leads to a rise in GDP per capital because more employement takes place as more output is being produced,this leads to a rise in aggreagate income and thus GDP per capita rises.More income will lead to a higher disposable income which could be spent on other goods and services thus resulting in employment in other sectors of the economy.However if there is a rise in nominal GDP which means the value of output has only risen because of increase in value of money due to inflation then economic growth has not occured as the output has remained same as the last year.
Am i correct in this analysis of economic growth
-
Economic growth leads to a rise in GDP per capital because more employement takes place as more output is being produced,this leads to a rise in aggreagate income and thus GDP per capita rises.More income will lead to a higher disposable income which could be spent on other goods and services thus resulting in employment in other sectors of the economy.However if there is a rise in nominal GDP which means the value of output has only risen because of increase in value of money due to inflation then economic growth has not occured as the output has remained same as the last year.
Am i correct in this analysis of economic growth
You may also wish to mention depletion of resources. Also the fact that government expenditure and revenue has increased either through this or as a result of this ... The level of investment has increased, so as the level of consumer spending. Inevitably, the general price level would also increase due to a demand-pull inflation.
-
You may also wish to mention depletion of resources. Also the fact that government expenditure and revenue has increased either through this or as a result of this ... The level of investment has increased, so as the level of consumer spending. Inevitably, the general price level would also increase due to a demand-pull inflation.
why should i go for a multiplier effect if its generally for four marks
If i would go for that then the description of ecnomic growth will take whole page.
i will talk about
Economic growth can be either positive or negative. Negative growth can be referred to by saying that the economy is shrinking. Negative growth is associated with economic recession and economic depression.
In order to compare per capita income across multiple countries, the statistics may be quoted in a single currency, based on either prevailing exchange rates or purchasing power parity. To compensate for changes in the value of money (inflation or deflation) the GDP or GNP is usually given in "real" or inflation adjusted, terms rather than the actual money figure compiled in a given year, which is called the nominal or current figure.
Government revenue will also increase due to more tax revenue and Government spending could also increase as a result.This may result in cost push inflation as more capital goods will have to imported which could be shown via a demand and supply diagram where demand curve shifts to the right increasing price.
If supply outstrips demand then there will be demand pull inflation which will curtail spending and thus economic growth could also result in economic recession unless Government takes control by increasing taxes
-
why should i go for a multiplier effect if its generally for four marks
If i would go for that then the description of ecnomic growth will take whole page.
i will talk about
Economic growth can be either positive or negative. Negative growth can be referred to by saying that the economy is shrinking. Negative growth is associated with economic recession and economic depression.
In order to compare per capita income across multiple countries, the statistics may be quoted in a single currency, based on either prevailing exchange rates or purchasing power parity. To compensate for changes in the value of money (inflation or deflation) the GDP or GNP is usually given in "real" or inflation adjusted, terms rather than the actual money figure compiled in a given year, which is called the nominal or current figure.
Government revenue will also increase due to more tax revenue and Government spending could also increase as a result.This may result in cost push inflation as more capital goods will have to imported which could be shown via a demand and supply diagram where demand curve shifts to the right increasing price.
If supply outstrips demand then there will be demand pull inflation which will curtail spending and thus economic growth could also result in economic recession unless Government takes control by increasing taxes
Cost-push inflation is when a producer transfers the increase in the production cost to the consumers, resulting in higher marked prices ... Nominal GDP is for the purpose of identifying whether real growth has taken place in an economy.
-
In the pastpapers I keep seeing stuff regarding the elasticity of the labour supply.
Could someone please explain this concept along with the usual factors that affect this elasticity ?
+rep for the first person who does the BEST job ;)
-
No love people ! T_T :'(
-
In the pastpapers I keep seeing stuff regarding the elasticity of the labour supply.
Could someone please explain this concept along with the usual factors that affect this elasticity ?
+rep for the first person who does the BEST job ;)
The elasticity of supply of labour in low-income occupational groups tends to be elastic as a pool of readily available workers is available at low wage rates. The elasticity of supply of labour in jobs that require lengthy training and specific skills tend to be inelastic, meaning it is hard to expand the workforce as the demand for workers increases. This also explains why some professions, such as Law and Accountancy, enjoys a high wage level in short term as the high level qualifications makes the supply of newly qualified entrants to these occuptations inelastic, the expertise required for entry to those occupations is often know as an artificial barries to the entry of workers.
-
The elasticity of supply of labour in low-income occupational groups tends to be elastic as a pool of readily available workers is available at low wage rates. The elasticity of supply of labour in jobs that require lengthy training and specific skills tend to be inelastic, meaning it is hard to expand the workforce as the demand for workers increases. This also explains why some professions, such as Law and Accountancy, enjoys a high wage level in short term as the high level qualifications makes the supply of newly qualified entrants to these occuptations inelastic, the expertise required for entry to those occupations is often know as an artificial barries to the entry of workers.
you are giving your boards this year right?
damn, u know a lot! ;) ;)
-
whats profit maximization?
4 mark ans plz!
-
whats profit maximization?
4 mark ans plz!
Total Revenue - Total Cost = Total Profit
Revenue maximisation :
- Manipulation of Price elasticity of demand, if the PEd is inelastic, increase the price, if the PEd is elastic, decrease the price.
Price elasticity of demand is definied as the responsivness in quantity demanded to a change in the price of goods and services.
PEd = % Change in quantity demanded / % Change in price.
Cost minimisation
- Employing cheaper and more efficent factors of production (can be either labour intensive of capital intensive).
- Only increase output when marginal cost is less than marginal revenue of the last unit. When marginal cost equals to marginal revenue, profit is maximised.
-
you are giving your boards this year right?
damn, u know a lot! ;) ;)
I am currently having my IGCSE examination, and Economics is one of the subjects that I am taking during this session.
Those are actually from the AQA A2 Economics textbook :P For IGCSE you do not need to know artificial barries to the entry of workers :D
-
I am currently having my IGCSE examination, and Economics is one of the subjects that I am taking during this session.
Those are actually from the AQA A2 Economics textbook :P For IGCSE you do not need to know artificial barries to the entry of workers :D
hey imported inflation is a sub category of cost push infl. right?
and monetary infl. is a sub category of demand pull infl>
then do we mentiion them separately, if its for 8 marks suppose?
if so, how do we distinguish?
-
Economics = textbook + pastpapers.
You are going to have to cram. Sorry to say that.
http://thenightdreamer.wordpress.com/category/subjects/economics/
The above link is from my website - use it to study ;)
-
I'm going to keep this short...
I love economics, but haven't studied it at all since Paper 3 for the last 2 weeks. I've forgotten stuff, plus I'm out of the "Econ mood".
How should I study for the Structured Paper (2) for tomorrow?
Are you guys doing past papers, reading the textbook, or...well what else can you do?
So true... im completely out of the exam mood period. Just waiting for friday, after the Econ paper 1... IMMA BE FREEE
-
Study hard or you will regret it later.......
-
Gosh I'm gonna have good time cramming for eco today :( Anyone cramming eco with me ;D?
-
Yeah seriously I swear to god, I don't even feel like studying anymore. I don't even really care anymore, lol. A month is just waaaay too much, and 17 papers is torture. I am SO PUMPED for summer vacationnnnnnnnnnnnnnnnnnnnnn :) :) :)
Oh and @Ari, thanks! I'll do my best cramming :) maybe.
High Five!
SUMMMMERRRRR! And best of all... I have 4 months of it :D
-
Gosh I'm gonna have good time cramming for eco today :( Anyone cramming eco with me ;D?
Lets do this :P
-
whoa how do you have 4 months of it????
Cause next year im planning on going to Cairo to study. and my term there starts in october :)
and my school ends this friday :P:P
-
Explain why governments are involved in spending on education.
(for 5 marks)
Education = merit goods which tend to be under supplied by the private sector or possible priced out of reach of low income groups.
Thus, the government steps in to fix this market failure and provides cheap or possibly free access to education.
Education increases the skills of the population and can help increase productivity and hence shift the Production Possibilty Curve outwards allowing for econ growth in the future.
Increased skills means people can get better more higher paying jobs and hence increase their income. This can help redistribute income in a economy and increase tax revenue to the government.
Increased income means aggregate deman <- develop this
-
Wow thanks, you developed that really well, +rep!!!
Also, people, aren't past papers kind of useless, seeing as the mark schemes are so vague and basically just repeat the question instead of providing a correct answer? ??? >:(
Look at the examiner's report ;)
-
describe the aims of govt policy. Eg. Price stability, Full employment, economic growth , redistribution of income.
-
describe the aims of govt policy. Eg. Price stability, Full employment, economic growth , redistribution of income.
I am sure you know what those mean. Just quickly define and explain them, for example :
One aim of the government is to maintain price stability by ensuring that inflation is kept as low as possible. Inflation is a sustained rise in the general level of prices in an economy ever a period of time. High inflation can cause a fall in the purchasing power of money and hence affect the number of commodities a consumer can buy thus causing a fall in living standards.
Like that you would do it for 2 more and you'd get 6 marks ;)
-
Could someone please provide me with the drawbacks of using the following to measure development of an economy:
GDP per Capita
HDI
Thank You !
-
describe the aims of govt policy. Eg. Price stability, Full employment, economic growth , redistribution of income.
Don't forget trade balance :D
18 hours to go .v.
-
Could someone please provide me with the drawbacks of using the following to measure development of an economy:
GDP per Capita
HDI
Thank You !
Not included, but some possible downsides include :
- does not account for black market and non-monetised sectors such as barter and self-consumed products (i.e. DIY)
- regional variations of income and spending
- does not indicate inequalities of income and wealth
- does not put into account of work hours and leisure time of workers
workers working long hours may result in chronical illness such as heart disease.
- insufficent resources for investment
occurs when the firm has devoted too many resources into satisfying short-term wants.
GDP is calculated by the formula C + I + G + (X - M), more C means fewer I.
- does not put into account of negative externalities
e.g. depletion of finite resources such as oil, environmental impact such as pollution
-
Could someone please provide me with the drawbacks of using the following to measure development of an economy:
GDP per Capita
HDI
Thank You !
Well, I was hoping someone who had a better idea would answer, but seeing as no one has, I guess the disadvantages of using HDI could be along the lines of:
- not all factors taken into account
- changes occurring over time might not be taken into account because difficult/expensive to measure
- not all factors may be able to be measured (e.g. developed countries use a census, but LEDCs might not have the capital or proper government controls to do this, etc.)
- other factors that aren't measurable can't be taken into account (e.g. morale of people, ambition, future prospects, etc)
For the disadvantages of GDP per capita, I can't think of much, besides maybe:
1) regular, detailed calculations may be unable to be made as accurately as desired maybe because all the information is not available
2) businesses might cheat the government (e.g. not report profits/sales, so GDP may actually be higher/lower than what's officially thought to be so)
3) it can really ONLY BE AN ESTIMATE (logically speaking)
4) regular, frequent, or volatile changes in birth rate, death rate, net rate of migration, ILLEGAL IMMIGRANTS, etc. can't be taken into account, so population calculation isn't entirely accurate either, thus skewing the "per capita" part
Hope this helped? I tried...
What past paper did you get this question from anyway?
-
What exactly are normal and inferior goods?
Are normal goods just of a higher quality than inferior ones...?
Normal goods have a positive income elasticity of demand. As your income rises you buy MORE of these goods. An example might be Televisions.
Inferior goods have a negative income elasticity of demand. As your income rise you buy LESS of these goods. An example might be public transport on a bus. If you are rich you are unlikely to go to work via a bus but rather take a taxi or use a private car.
Thus public bus trasnport is an inferior good. ;)
-
Normal goods have a positive income elasticity of demand. As your income rises you buy MORE of these goods. An example might be Televisions.
Inferior goods have a negative income elasticity of demand. As your income rise you buy LESS of these goods. An example might be public transport on a bus. If you are rich you are unlikely to go to work via a bus but rather take a taxi or use a private car.
Thus public bus trasnport is an inferior good. ;)
Normal goods can be sub-divided into necessities and luxury goods.
-
Normal goods can be sub-divided into necessities and luxury goods.
Good point. :)
-
What are the MICROeconomic aims of government?
- Economic growth
- Price stability
- Full employment
- Trade balance
- Redistribution of income
-
Darren she wants the M I C R O aims NOT M A C R O
-
What score should someone get on tomorrow's paper if they're aiming for an A*?
Out of the total marks (150) for all 3 papers, what's an estimate of the total someone would need for an A*?
Any ideas appreciated...............
There is no minimum mark that you need for an A*. That minimum mark changes EACH year depending on the curve.
The curve is dependent on how badly people do.
Hard paper= less people doing well = more chance of an A* for above average people.
Honestly, dont worry about this stuff. Just study hard now and kill the paper; I can guarantee you an A* if you do that much ;)
-
are there such things such as govt's microeconomic aims?
microeconomic only deals with businesses in private sector, its the firms which have the aim to maximise profits
-
I checked tutor2u.net and my collection of AQA A-Level Economics textbook, there isn't such thing as microeconomic aims ...
-
Yeah, microeconomic aims do exist, past examiner reports keep mentioning them, I just can't figure out what they are????
Like, make sure people are happy, earning what they're capable of, get the best value for money, stuff like that?
u mean increase standard of living and GDP per head? that's also connected to macroeconomic aims right?
increase employment, econ. growth will increase GDP per head
lower inflation increase the real income value of the ppl
increase employment, growth, and lower inflation will increase spending power of ppl which lead to better living standard
-
Microeconomics (from Greek prefix micro- meaning "small" + "economics") is a branch of economics that studies how the individual parts of the economy, the household and the firms, make decisions to allocate limited resources,typically in markets where goods or services are being bought and sold. Microeconomics examines how these decisions and behaviours affect the supply and demand for goods and services, which determines prices, and how prices, in turn, determine the supply and demand of goods and services.
One of the goals of microeconomics is to analyze market mechanisms that establish relative prices amongst goods and services and allocation of limited resources amongst many alternative uses. Microeconomics analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition. Significant fields of study in microeconomics include general equilibrium, markets under asymmetric information, choice under uncertainty and economic applications of game theory. Also considered is the elasticity of products within the market system.
-
"Candidates must be able to recognise the differences between possible macro and micro economic aims of a government."
--direct quote from O/N 2009 Examiner Report for question 5b) shown on page 5/8 of the Report.
It is also mentioned briefly in the M/J 2009 Examiner Report for question 1c) where it says: "Some candidates decided to select micro-economic rather than macro-economic aims."
does the question asks for the macroeconomic aims?
-
Explain what is meant by price elasticity of demand, someone, for 4 marks?
Please and thanks!!! :)
Price elasticity of demand (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price. More precisely, it gives the percentage change in quantity demanded in response to a one percent change in price (holding constant all the other determinants of demand, such as income).
rice elasticities are almost always negative, although analysts tend to ignore the sign even though this can lead to ambiguity. Only goods which do not conform to the law of demand, such as Veblen and Giffen goods, have a positive PED. In general, the demand for a good is said to be inelastic (or relatively inelastic) when the PED is less than one (in absolute value): that is, changes in price have a relatively small effect on the quantity of the good demanded. The demand for a good is said to be elastic (or relatively elastic) when its PED is greater than one (in absolute value): that is, changes in price have a relatively large effect on the quantity of a good demanded.
Revenue is maximised when price is set so that the PED is exactly one. The PED of a good can also be used to predict the incidence (or "burden") of a tax on that good. Various research methods are used to determine price elasticity, including test markets, analysis of historical sales data and conjoint analysis.
-
Explain what is meant by price elasticity of demand, someone, for 4 marks?
Please and thanks!!! :)
PEd = responsivness of change in quantity demanded towards a change in price.
% change in QD / % change in price
The factors that affects the PEd are :
- Proportion of a person's income (necessities, luxury)
- Number of subsitutes (Few subsitutes - inelastic)
- Addictivness (cigarattes)
- The period of time (Longer more elastic)
-
Yeah, it did.
Ah, it is a trap you see, a lot of people failed to recall the macroeconomic objectives that I have listed on the previous page and invented some ideas of their ... original creation. Bear in mind that microeconomics objectives of the government (whatever that is) is not covered in the syllabus nor the endorsed textbook, just stick to what you have been taught and you will be fine ...
-
Ah, it is a trap you see, a lot of people failed to recall the macroeconomic objectives that I have listed on the previous page and invented some ideas of their ... original creation. Bear in mind that microeconomics objectives of the government (whatever that is) is not covered in the syllabus nor the endorsed textbook, just stick to what you have been taught and you will be fine ...
who told you it's not covered in syllabus
Market failure,price mechanism,Allocation of resources and scarcity are all microeconomic stuff
-
who told you it's not covered in syllabus
Market failure,price mechanism,Allocation of resources and scarcity are all microeconomic stuff
I am referring to "govt's microeconomic aims".
-
Wikipedia ...
http://webcache.googleusercontent.com/search?q=cache:ZQOk1smIps4J:en.wikipedia.org/wiki/Price_elasticity_of_demand+The+PED+of+a+good+can+also+be+used+to+predict+the+incidence+%28or+%22burden%22%29+of+a+tax+on+that+good.+Various+research+methods+are+used+to+determine+price+elasticity,+including+test+markets,+analysis+of+historical+sales+data+and+conjoint+analysis.&cd=1&hl=en&ct=clnk&gl=uk
-
Wikipedia ...
http://webcache.googleusercontent.com/search?q=cache:ZQOk1smIps4J:en.wikipedia.org/wiki/Price_elasticity_of_demand+The+PED+of+a+good+can+also+be+used+to+predict+the+incidence+%28or+%22burden%22%29+of+a+tax+on+that+good.+Various+research+methods+are+used+to+determine+price+elasticity,+including+test+markets,+analysis+of+historical+sales+data+and+conjoint+analysis.&cd=1&hl=en&ct=clnk&gl=uk
and wikipedia.
just read wikipedia on every topic
it contains everything
-
How might a trade union affect/influence the government?????????
Trade union influences the private producers (entreprenurs) by means of collective bargaining.
- Better pay
- Better fringe benefits
- Better working condition
- Participation in decision-making
- Protecting worker's rights
- Preserving skills
-
If a question says how to draw a population pyramid of a developed economy
What age scales are we going to use and what type of population parameters ?
-
If a question says how to draw a population pyramid of a developed economy
What age scales are we going to use and what type of population parameters ?
this is 2008 november first question
-
To redistribute income what should the government do beside imposing higher progressive taxation and indirect taxes on luxury goods ?
The MS says something about subsidies and grants ??? What do they mean ?
Please help !
-
If a question says how to draw a population pyramid of a developed economy
What age scales are we going to use and what type of population parameters ?
Male / Female, 0 - 5, 5 - 10 ... 55 - 60 and 60 +
-
To redistribute income what should the government do beside imposing higher progressive taxation and indirect taxes on luxury goods ?
The MS says something about subsidies and grants ??? What do they mean ?
Please help !
Subsidies are the form of financial assistance given by a government to a business organization to achieve it's aim of for example locating in a area of high unemployment.
By giving subsidies the cost of production goes down and as a result Supply curve shifts to the right.Increased production will require more workers so employment goes up.This raises aggragate income of the country and thus the aim of income redistribution is achieved.
-
Male / Female, 0 - 5, 5 - 10 ... 55 - 60 and 60 +
and on the x-axis what should we write.
Population parameters ?
thankYou By the way :)
-
@Freaked12 Thanks !!!!
-
and on the x-axis what should we write.
Population parameters ?
thankYou By the way :)
Percentages
-
Percentages
like this
|11-15|
|6-10|
_______________________ |0-5|______________________
30% 20% 10%
etc
-
Yup ! ;D
-
Yup ! ;D
ThankYou so much
But do have a look at 2008 november
it says population in thousands.
Sorry for disturbing
-
k
-
WHAT IS MARKET FAILURE AND WHAT ARE SOME EXAMPLES OF IT????
market failure
occurs because
1-Externalities(define with example) and that business doesnt take into account negative externalities because they are only interested in costs and profit.
2-Existence of monopoly(define) and write about how they can exploit consumers with high prices and little money being spent on improvement.
3-Public goods(Define with examples) and that they are either underprovided or not provided at all
merit goods(define) draw a demand and supply diagram with demand curve to the left as it represents low demand as consumers dont know the true worth of goods
4-Demerit goods
(define) with demand and supply diagram with demand to the right as consumers dont know the potential risks of consuming demerit goods
-
omg thank you so much! +rep! :D
(did you just change your name?)
Yeah.
Can You give me a minute
i am writing the answer :)
-
cud sum1 help me with this question ???
Explain how individual's earning might change over time?
-
How might inflation affect a person’s spending, saving and borrowing?
http://en.wikipedia.org/wiki/Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time. A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the Consumer Price Index) over time.
http://everything2.com/title/The+effects+of+inflation
Inflation is viewed as being undesirable because of some serious economic and social effects. Inflation impacts on income distribution making an random redistribution of real income. Those receiving fixed money incomes (e.g., pensioners, beneficiaries etc.) are usually disadvantaged because often their incomes are not adjusted upwards fast enough to compensate for the effects of continually rising prices. Their real incomes (i.e., the goods and services their incomes will buy) will fall. Individuals whose incomes rise more rapidly than the inflation rate will experience increasing real incomes. Generally, the pattern of income distribution tends to become more unequal than it was before inflation. If the rate of inflation is high, individuals with money tend to buy real assets such as property, gold and antiques, which often increase in value faster than the rate of inflation. This group will gain by increasing the size of their share of the nation's wealth.
There is more to this.But this gives a foundation
Inflation tends to increase spending and encourage borrowing at the expense of savings. If prices are rising quicker than incomes, individuals will tend to buy at current prices before goods and services become more expensive and less affordable. Some consumers may buy using higher levels of debt (i.e., borrowing) than otherwise might the case. Savings may be discouraged because with high inflation when the money saved is repaid, it can be worth much less than when it was lent and the real rate of interest may be low. The real rate of interest rates fail to keep pace with inflation the saver loses purchasing power, i.e., their ability to buy things falls. Rising prices are a boon to borrowers because the repayment of interest and the sum borrowed (i.e., the principal) is with lower valued money. Inflation reduces the real value of the amount they owe, as the sum repaid has less purchasing power. Of course, any gain by borrowers must be weighed against the interest they must pay.
-
hey imported inflation is a sub category of cost push infl. right?
and monetary infl. is a sub category of demand pull infl>
then do we mentiion them separately, if its for 8 marks suppose?
if so, how do we distinguish?
-
annyybboooddyyyy??!!
-
hey imported inflation is a sub category of cost push infl. right?
and monetary infl. is a sub category of demand pull infl>
then do we mentiion them separately, if its for 8 marks suppose?
if so, how do we distinguish?
Why are you going into so much detail
There are many causes for inflation, depending on a number of factors. For example, inflationcan happen when governments print an excess of money to deal with a crisis. As a result, prices end up rising at an extremely high speed to keep up with the currency surplus. This is called the demand-pull, in which prices are forced upwards because of a high demand.
Another common cause of inflation is a rise in production costs, which leads to an increase in the price of the final product. For example, if raw materials increase in price, this leads to the cost of production increasing, which in turn leads to the company increasing prices to maintain steady profits. Rising labor costs can also lead to inflation. As workers demand wage increases, companies usually chose to pass on those costs to their customers.
Inflation can also be caused by international lending and national debts. As nations borrow money, they have to deal with interests, which in the end cause prices to rise as a way of keeping up with their debts. A deep drop of the exchange rate can also result in inflation, as governments will have to deal with differences in the import/export level.
Finally, inflation can be caused by federal taxes put on consumer products such as cigarettes or fuel. As the taxes rise, suppliers often pass on the burden to the consumer; the catch, however, is that once prices have increased, they rarely go back, even if the taxes are later reduced. Wars are often cause for inflation, as governments must both recoup the money spent and repay the funds borrowed from the central bank. War often affects everything from international trading to labor costs to product demand, so in the end it always produces a rise in prices.
-
Why are you going into so much detail
There are many causes for inflation, depending on a number of factors. For example, inflationcan happen when governments print an excess of money to deal with a crisis. As a result, prices end up rising at an extremely high speed to keep up with the currency surplus. This is called the demand-pull, in which prices are forced upwards because of a high demand.
Another common cause of inflation is a rise in production costs, which leads to an increase in the price of the final product. For example, if raw materials increase in price, this leads to the cost of production increasing, which in turn leads to the company increasing prices to maintain steady profits. Rising labor costs can also lead to inflation. As workers demand wage increases, companies usually chose to pass on those costs to their customers.
Inflation can also be caused by international lending and national debts. As nations borrow money, they have to deal with interests, which in the end cause prices to rise as a way of keeping up with their debts. A deep drop of the exchange rate can also result in inflation, as governments will have to deal with differences in the import/export level.
Finally, inflation can be caused by federal taxes put on consumer products such as cigarettes or fuel. As the taxes rise, suppliers often pass on the burden to the consumer; the catch, however, is that once prices have increased, they rarely go back, even if the taxes are later reduced. Wars are often cause for inflation, as governments must both recoup the money spent and repay the funds borrowed from the central bank. War often affects everything from international trading to labor costs to product demand, so in the end it always produces a rise in prices.
thankyou!
also, could u explain market failure and its causes?
i know what it is, just cant fame an answer!
-
thankyou!
also, could u explain market failure and its causes?
i know what it is, just cant fame an answer!
I have already wrote the causes in my previous post
so before you write the causes
just write this
the term "market failure" does not mean that a given market has ceased functioning. Instead, a market failure is a situation in which a given market does not efficiently organize production or allocate goods and services to consumers.
http://en.wikipedia.org/wiki/Microeconomics
-
Inflation tends to increase spending and encourage borrowing at the expense of savings. If prices are rising quicker than incomes, individuals will tend to buy at current prices before goods and services become more expensive and less affordable. Some consumers may buy using higher levels of debt (i.e., borrowing) than otherwise might the case. Savings may be discouraged because with high inflation when the money saved is repaid, it can be worth much less than when it was lent and the real rate of interest may be low. The real rate of interest rates fail to keep pace with inflation the saver loses purchasing power, i.e., their ability to buy things falls. Rising prices are a boon to borrowers because the repayment of interest and the sum borrowed (i.e., the principal) is with lower valued money. Inflation reduces the real value of the amount they owe, as the sum repaid has less purchasing power. Of course, any gain by borrowers must be weighed against the interest they must pay.
Inflation causes the average level of prices to rise so wouldn't consumers spend less because their purchasing power is now reduced?
This would lead to a fall in aggregate demand for goods and services and consequently firms would lay-off workers due to fall in derived demand. Isn't this how inflation creates unemployment in an economy? If people increase their spending then wouldn't firms increase their output, possibly increasing employment? :S
So perhaps your answer holds true for when the rate of inflation is RISING in the economy rather than when inflation simply exists.
-
I have already wrote the causes in my previous post
so before you write the causes
just write this
the term "market failure" does not mean that a given market has ceased functioning. Instead, a market failure is a situation in which a given market does not efficiently organize production or allocate goods and services to consumers.
http://en.wikipedia.org/wiki/Microeconomics
umm could you tell me which post was that?
the number?
-
umm could you tell me which post was that?
the number?
reply:453
-
Inflation causes the average level of prices to rise so wouldn't consumers spend less because their purchasing power is now reduced?
This would lead to a fall in aggregate demand for goods and services and consequently firms would lay-off workers due to fall in derived demand. Isn't this how inflation creates unemployment in an economy? If people increase their spending then wouldn't firms increase their output, possibly increasing employment? :S
So perhaps your answer holds true for when the rate of inflation is RISING in the economy rather than when inflation simply exists.
I am talking about Hyper Inflation and Galloping Inflation
-
I am talking about Hyper Inflation and Galloping Inflation
um what is with public goods aND market failure?
-
um what is with public goods aND market failure?
Public goods are goods that have the characteristics that they are non-excludable and non-rivalrous and include national defense[5], public transportation, federal highways, and public health initiatives such as draining mosquito-breeding marshes. For example, if draining mosquito-breeding marshes was left to the private market, far fewer marshes would probably be drained. To provide a good supply of public goods, nations typically use taxes that compel all residents to pay for these public goods (due to scarce knowledge of the positive externalities to third parties/social welfare). This usually results in a government-run or sponsored monopoly to service the public good as a solution - though government monopolies often have the same social costs as private monopolies as mentioned earlier.
http://en.wikipedia.org/wiki/Microeconomics
-
Public goods are goods that have the characteristics that they are non-excludable and non-rivalrous and include national defense[5], public transportation, federal highways, and public health initiatives such as draining mosquito-breeding marshes. For example, if draining mosquito-breeding marshes was left to the private market, far fewer marshes would probably be drained. To provide a good supply of public goods, nations typically use taxes that compel all residents to pay for these public goods (due to scarce knowledge of the positive externalities to third parties/social welfare). This usually results in a government-run or sponsored monopoly to service the public good as a solution - though government monopolies often have the same social costs as private monopolies as mentioned earlier.
http://en.wikipedia.org/wiki/Microeconomics
um i read this - i didnt understand this!
-
um i read this - i didnt understand this!
What part dont you understand :)
its non excludable
non rivalrous
non rejectablity
-
What part dont you understand :)
its non excludable
non rivalrous
non rejectablity
what part causes market failure?
1) under production?
2) since it is non-exculudable, everybody ppays taxes to finance the production of these public goods, when some of them might not be benefiting from their use?
-
also,
conflict of economic growth and B.O.P?
can someone explain in detail?
-
also,
conflict of economic growth and B.O.P?
can someone explain in detail?
Economic growth = high Aggregate demand. During econ growth people's incomes rise. They will be able to purchase more goods from abroad.
Thus imports increase. Imports may exceed exports and hence a Trade deficit may occur.
This is the skeleton answer. Fill it in and add some detail ;)
-
cud sum1 help me with this question ???
Explain how individual's earning might change over time?
can sum1 answer this question please?
-
how do we explain income increase in economic growth?
high A.D.-greater demand for factors of pr=oduction-labour demand high-higher wages?
do we explain the multiplier effect?
-
how do we explain income increase in economic growth?
high A.D.-greater demand for factors of pr=oduction-labour demand high-higher wages?
do we explain the multiplier effect?
As econ growth is achieved more jobs are created. This reduces employment and increases peoples disposable income.
-
can sum1 answer this question please?
At the start of one's career income may be low due to the fact that it is a starter position. With time, greater experience is gained combined with the probability of acquiring training and this would increase the value of the worker to the firm and perhaps lead to an increase in wage/salary. Also, over time employers would increase employee wages due to loyalty to the firm. The fortune of the business the individual is working in could change, high profits could mean higer salaries paid out to employees. The career prospects of the worker would widen as he gains more expertise in his field of operation, there may be chances of promotion consequently leading to higher income. The individual may come across some form of unearned income (lottery, inheritance) and this could increase his income. After retirement, income flows are likely to reduce, limited to profits made from early investments and the like..
:)
-
thanx a lot for the answer ! :)
+rep for u
-
guys what is the difference between free trade and trade agreement? ???
-
hello??
any1 there?? :-\
-
well basically free trade is when you remove all barriers for imports like taxes, and this is open to all the countries
in trade agreements you make a deal with another country and this can be anything like removing taxes on certain products or say i will sell you wool at discounted rate if you give me wine at a discounted rate, so i think thats basically it just remember trade agreement is between specific countries
-
well basically free trade is when you remove all barriers for imports like taxes, and this is open to all the countries
in trade agreements you make a deal with another country and this can be anything like removing taxes on certain products or say i will sell you wool at discounted rate if you give me wine at a discounted rate, so i think thats basically it just remember trade agreement is between specific countries
oh ok i get it. Thanks! ;D
-
can anybody explain to me structure of the current account? thx very much :)
-
what is ment by regulation ??
-
i dont know how to explain the macro-economic aims of the government?
-
what is ment by regulation ??
a rule that regulates/affects smthing, in econ usually its connected to the rules about trade, where usually govt. impose tax to gain revenue/to reduce production(which reduces consumption) or when govt. regulating the amount of production by limiting the amount of production
-
what is the advantages of mixed economy is it the advantages of both planned and free market economy ?
-
what is the advantages of mixed economy is it the advantages of both planned and free market economy ?
it allows both govt. and ppl to control the resource allocation
-
i dont know how to explain the macro-economic aims of the government?
You will only be required to list them.
- Redistribution of income
- Trade balance
- Economic growth
- Price stability
- Full employment
-
what is ment by regulation ??
Laws imposed by the government on private producers that punishes them for activities that are associated with negative externalities.
- Pollution laws
- Red tape on foreign producers
- Product quality laws
- Worksite safety laws
- Minimum amount of domestic workers employed
- Minimum wage
-
can anybody explain to me structure of the current account? thx very much :)
- Goods
- Services
- Current Transfer
Outflow : Payments made by the UK to EU
Inflow : Foreign aid received by third-world countries
- Income
Rent on property owned overseas
Interest in loans granted overseas
Interest in savings overseas
Divided in foreign company shares
Profit in company owned overseas
British working in Dubai - Income wired back to the UK
-
You will only be required to list them.
- Redistribution of income
- Trade balance
- Economic growth
- Price stability
- Full employment
in mark scheme they say max 2 marks , total is 4 marks i dont know how to explain eg how to explain full employment ?!!!
-
in mark scheme they say max 2 marks for a list , total is 4 marks i dont know how to explain eg how to explain full employment ?!!!
-
Back from Paper 2 ... Not too bad :D
-
Back from Paper 2 ... Not too bad :D
Glad to know, my paper 2 went great, easier than expected :D. My hands are so sore now after writing 10 pages for paper 2 and then straight after, did the Eng unseen paper for 3 pages :P
-
Glad to know, my paper 2 went great, easier than expected :D. My hands are so sore now after writing 10 pages for paper 2 and then straight after, did the Eng unseen paper for 3 pages :P
Uhh I wrote 3 and a half pages (double sided) ...
-
Uhh I wrote 3 and a half pages (double sided) ...
OMG seriously? Isn't that a bit too little? I wrote 10 pages double sided. The one who wrote least in my eco class wrote 6 pages.
-
OMG seriously? Isn't that a bit too little? I wrote 10 pages double sided. The one who wrote least in my eco class wrote 6 pages.
You mean 10 sides, right? :)
I wrote about 4 pages.. 8 sides.
-
You mean 10 sides, right? :)
I wrote about 4 pages.. 8 sides.
Yes. 10 sides, not 20 sides. Sorry if I confused anyone. :D
How did you find it?
-
I wrote 10 sides too. Hi5 me someone !!!
-
I wrote 10 sides too. Hi5 me someone !!!
HI5 !!!! :D How did it go for you Ben? What questions did you go for? I did 1, 2, 3, 6 ;).
-
Yes. 10 sides, not 20 sides. Sorry if I confused anyone. :D
How did you find it?
Thankfully, real good :)
With 2 papers that went pretty well that A*doesn't seem too hard to get! *fingers crossed though :D
I did 1,2,3,7 ^ ^
-
Thankfully, real good :)
With 2 papers that went pretty well that A*doesn't seem too hard to get! *fingers crossed though :D
I did 1,2,3,7 ^ ^
WOW Q7, you know I find that question the hardest. ;D
-
WOW Q7, you know I find that question the hardest. ;D
I happened to revise that chapter a LOT. :P
Is Econ Paper 3 your last one this summer?
-
HI5 !!!! :D How did it go for you Ben? What questions did you go for? I did 1, 2, 3, 6 ;).
I did 1 (DUH !!!) 2 4 and 7
-
I happened to revise that chapter a LOT. :P
Is Econ Paper 3 your last one this summer?
No I still have Add Maths & Eco p1 & THAT'S IT FOR IGCSE ;D
-
haha i wrote 10 pages too :) i did questions 1, 2, 4, and 6 though...
we can't really discuss this paper more than that lol
(did anyone's handwriting start to get realllly terrible towards the end?)
yeah, I started off all neat and stuff. Then I was like WHATEVER ::)
-
anyone who did questions 1,2,3 and 4?
-
anyone who did questions 1,2,3 and 4?
1 2 4 7
-
Heyyy. Eco paper 2 was pretty good :D
I did 4, 5, 7 :)
-
Heyyy. Eco paper 2 was pretty good :D
I did 4, 5, 7 :)
Dude you challenge yourself a bit too much. Q5 & 7 are probably the hardest imo :D
-
My hand looks like a cow's back to be honest
I did 2 4 and 5.
Alhumdullilah all set for a A star.
I hope
-
for 5 part iii
I wrote 1 and a half page.
for past ii one page
and part i 7 lines.
4
part i)9 lines
part ii)75 percent of a page
part iii)1 page and a half
2)
I dont remember about this question.
-
Help, please?
In a market there is a shortage of a good.
What change would cause the market to come to an equilibrium?
A an increase in demand
B a decrease in supply
C a fall in price
D a rise in price
OK this is a completely wild guess, D, rise in price?
99% chances that its rong :P
-
A rise in price will increase supply and lower demand. Thus, an equilibrium will be achieved.
-
WOHO!! i still haven't forgotten my eco. YEAH!
-
WOHO!! i still haven't forgotten my eco. YEAH!
You said you didnt take any commerce subjects -_-
-
I used to take economics, for 3 months or so. I dropped it later.
-
I used to take economics, for 3 months or so. I dropped it later.
Oh, okay.
-
Help, please?
In a market there is a shortage of a good.
What change would cause the market to come to an equilibrium?
A an increase in demand
B a decrease in supply
C a fall in price
D a rise in price
D - Price is an incentive that would encourage producers to increase supply.
I did 2, 5 and 7.
-
ohhh we had to think of it the other way around. got it, thanks!
@ghost (aadi?): jeez i take economics and i didn't know it, and you don't, and you did. lol why did you drop it then???
I sucked at it. Plus, it wasn't a subject of my interest.
-
I sucked at it. Plus, it wasn't a subject of my interest.
I think I like it because it is technically speaking a science; not a true business. :-\
-
I think I like it because it is technically speaking a science; not a true business. :-\
I like it becuase I can bluff in the examination and still get an A* :P
-
I like it becuase I can bluff in the examination and still get an A* :P
LOOOOOOOOOOOOOOOOOL :P :D :D
-
I wrote 16 sides or 8 pages.
My hands were aching at the end and I nearly ran out of time.
I did 1,3,4,6
-
I managed 10 sides and I finished with 10 minutes to spare.
I did 1 2 4 7
-
i choose 2 3 and 5, wirte about 7 sides
ppr was okay, just like any other past papers
-
their was nothing about inflation! :-\ :-\ :-\
inflation is like getting marks for free!
-
Guys, some of the question numbers were different based on which variant you did.
On a side note, is it hard to get an A* in Economics as compared to other subjects?
I wouldnt know. But after this exam I will ;D
-
This is probably one of the only questions in the eco past papers that I dont understand :-\
Anyone willing to EXPLAIN how to get the answer ? ;D
-
Is the answer C? :/
-
Is the answer C? :/
Yes, but how ?
-
This is probably one of the only questions in the eco past papers that I dont understand :-\
Anyone willing to EXPLAIN how to get the answer ? ;D
Yeah I think it must be C.
So if you first draw the (original) demand and supply, and they tell you that the quantity traded is the same as before then draw a line up from the original equilibrium point. The only way this can be the case is if the supply curve moves to the left (falls) and if the demand curve moves to the right (rises). The new equilibrium point will be directly above the original one (meaning quantity traded is the same as before), but the price will rise.
I hope this makes sense?
-
Yes, but how ?
Logic :P
Basically if supply falls, demand will rise...this will tend to push the price of the commodity higher.
check the attachment...that may help you understand
-
Its D because the TRANSPORT SERVICE is being exported to a foreign company i.e. ZImbabwe will be paying a foreigner to deal with the transport (a service in the tertiary sector) of the cars.
Trade in goods will worsen for obvious reasosns
-
Thanks Nid and aangel, I got it. I thought the prices rose FIRST and this would casue a MOVEMENT along the curves.
NVM :P Silly doubt.
+rep aangel (sorry Nid but she answered first :-\ )
EDIT : I +repped you too Nid - seems I can add rep twice in a row immediately ;D
-
are indirect taxes regressive?
-
are indirect taxes regressive?
Yes, they affect lower income groups more. This is since lower income groups spend a larger PROPORTION on goods that are regressively taxed.
hence a larger PROPORTION of their income is taken as tax through these regressive sachems.
-
are indirect taxes regressive?
Whether a tax is regressive, progressive or proportional depends on its relationship with the person's income ... In this case the amount of GST payable by consumers with differnet levels of income is the same, hence GST is regressive.
-
Please can someone differentiate between:
1) social costs and external costs
&
2) social benefits and external benefits
Thank you!
-
For your first question assign each group a value.
MALE WORKERS FEMALE WORKERS
highest paid lowest paid highest paid lowest paid
$300 $200 $100 $50
Calc their new income as a result of the percentage rises. You'll get the answer ;) I just did this paper.
-
1) social costs and external costs
-Social costs = private costs + external costs
- external costs are all the negative effects to SOCIETY and NOT the firm/consumer of the good. Society receives NO compensation for the
impacts on them
-Smoking affects the health of the smoker (PC); the people around him undergo passive smoking and may suffer from asthma (EC)
2) social benefits and external benefits
- Apply the above ;)
-
Hey guys, can you please explain to me why the answer of this question is A? I put B though. And what is meant by the unit of account?
Thanxx :D
-
Hey guys, can you please explain to me why the answer of this question is A? I put B though. And what is meant by the unit of account?
Thanxx :D
because in a planned economy goods are distributed according to the needs of the population and not what amount of money they have
-
The answer is C look at the attached MS
-
because in a planned economy goods are distributed according to the needs of the population and not what amount of money they have
Thanxx, but I still don't get why the answer is A. And what is the unit of account?
-
Hey guys, can you please explain to me why the answer of this question is A? I put B though. And what is meant by the unit of account?
Thanxx :D
Money exists in a planned economy and people were definitely trying to use it in this scenario to buy goods (hence the queues)
So A is wrong
This is a planned economy and has NOTHING to do with a market economy so B is wrong
C is correct since in Planned economies the gov produces goods by allocating resources but it usually is unaware of what consumers want.
So people often queue up to get whatever few goods that they WANT before they are sold off.
-
Thanxx, but I still don't get why the answer is A. And what is the unit of account?
ITS NOT A !!!!!!!!!!
ITS C !!!! Look at the MS I attached at the top of this page.
-
Money exists in a planned economy and people were definitely trying to use it in this scenario to buy goods (hence the queues)
So A is wrong
This is a planned economy and has NOTHING to do with a market economy so B is wrong
C is correct since in Planned economies the gov produces goods by allocating resources but it usually is unaware of what consumers want.
So people often queue up to get whatever few goods that they WANT before they are sold off.
OMG this is lame, I looked at the wrong answer from the mark scheme >.<.
Oh right, didn't notice the word "market" system, that's why I have to read the question more carefully. :-\
Thanxx I get it now :D
-
Hang on
-
Due to good weather, there is a surplus in the market for an agricultural product.
Which change would cause the market to return to equilibrium?
A a decrease in demand
B a fall in price
C an increase in supply
D a rise in price
I know this is probably stupid, but this just doesn't make sense to me. I thought it would be a rise in price (D), because the supply curve moves to the right, which causes price to fall. BUT THAT'S WRONG (apparently). Why is the answer B???? >:(
It has to be Answer D
-
Check it out ;D
@Freaked You are wrong !
-
It has to be Answer D
Due to good weather, there is a surplus in the market for an agricultural product.
Which change would cause the market to return to equilibrium?
Surplus - excess supply
A a decrease in demand would exacberate the surplus, hence A is incorrect.
B a fall in price would increase the demand, which would exacberate the surplus, hence B is incorrect.
C an increase in supply would exacberate the surplus, hence A is incorrect.
D a rise in price would reduce the demand, it is the correct answer.
An increase in price would result in reduction in demand and increase in supply, whereas a decrease in price would result in an increase in demand and decrease in supply.
-
is electricity an example of fixed cost/variable cost?
-
Due to good weather, there is a surplus in the market for an agricultural product.
Which change would cause the market to return to equilibrium?
Surplus - excess supply
A a decrease in demand would exacberate the surplus, hence A is incorrect.
B a fall in price would increase the demand, which would exacberate the surplus, hence B is incorrect.
C an increase in supply would exacberate the surplus, hence A is incorrect.
D a rise in price would reduce the demand, it is the correct answer.
An increase in price would result in reduction in demand and increase in supply, whereas a decrease in price would result in an increase in demand and decrease in supply.
um
D- surplus is excess supply which has to be USED UP by increasing the demand for the product.
u said it yourself, increases price, decreases the demand...creating the opposite effect of what is wanted.
-
um
D- surplus is excess supply which has to be USED UP by increasing the demand for the product.
u said it yourself, increases price, decreases the demand...creating the opposite effect of what is wanted.
woah
never thought it this way
Thanks 8)
-
is electricity an example of fixed cost/variable cost?
variable
-
variable
you sure?
i study bs too, and in that it says electricity bills are fixed costs...
-
Thanks Ari for ALL of your help today, +rep :)
@J. Darren, the answer was supposed to be B...
No problemo. I'm online the whole day; so shoot if you have questions. ;)
-
lol is there any reason the males earn waaaaaaay more than the females in your example?
i hope it was just an accident and not intentional :P
The reason is purely economical. Women, on average, earn less than men. I would prefer equal values for all but this makes things more realistic.
-
Okay, so wait, if we apply what you said to this statement: "Greenhouse gases caused by burning fuel in Europe are leading to global warming." So the effects on non-European countries will be external costs, and NOT social costs, because we're only taking non-European countries into consideration? If we were taking the entire world under consideration, then it would be a social cost?
Partly correct. The effect on Non-Euro countries is EXTERNAL since they were not part of the production process.
External costs are ONE component of SOCIAL COSTS. The other component is the PRIVATE COSTS.
For example, in your example lets say some of the pollution given off blocks the machinery in a power station BURNING the FUEL.
The COST of cleaning the machinery is a PRiVATE COST to the firm that owns the POWER STATION.
-
Okay, so wait, if we apply what you said to this statement: "Greenhouse gases caused by burning fuel in Europe are leading to global warming." So the effects on non-European countries will be external costs, and NOT social costs, because we're only taking non-European countries into consideration? If we were taking the entire world under consideration, then it would be a social cost?
Social cost is nothing except the adding up of Private costs(to the producer in terms of producing the good/service and to the consumer when he buys the product) + External cost(negative externalities)
-
Partly correct. The effect on Non-Euro countries is EXTERNAL since they were not part of the production process.
External costs are ONE component of SOCIAL COSTS. The other component is the PRIVATE COSTS.
For example, in your example lets say some of the pollution given off blocks the machinery in a power station BURNING the FUEL.
The COST of cleaning the machinery is a PRiVATE COST to the firm that owns the POWER STATION.
EXACTLY
SOCIAL COSTS HAS NO MEANING APPARENTLY
-
Hey guys, can you please explain to me why the answer to this question is C? I put D.
Thanxx :D
-
Its because
the equilibrium point is X thats where the original demand AND supply meet.
When the labour costs increased it means the supply decreased so the supply curve will shift to the left.
When demand decreased demand curve will shift to the left as well
so C is the answer
CORRECTION
-
Hey guys, can you please explain to me why the answer to this question is C? I put D.
Thanxx :D
Demand falling > shift downward sloping (from left to right) demand curve to the left.
Equilibrium switches to B.
Labour cost increased > Cost of prod. increased > Supply decrease > Shift upward sloping curve to the left.
Equilibrium moves to C.
-
Demand falling > shift downward sloping (from left to right) demand curve to the left.
Equilibrium switches to B.
Labour cost increased > Cost of prod. increased > Supply decrease > Shift upward sloping curve to the left.
Equilibrium moves to C.
O Ms Serious,i already helped her. :P
-
O Ms Serious,i already helped her. :P
Oh... Sorry sorry. ;D
You quoted your reply? Why?
I didn't notice. Too serious now... hehe
-
Oh... Sorry sorry. ;D
You quoted your reply? Why?
I didn't notice. Too serious now... hehe
Did a mistake
and
No Problemo 8)
-
Hey guys, can you please explain to me why the answer to this question is C? I put D.
Thanxx :D
The demand curve and supply curve both shifts to the right, we can rule out D as it is on the same demand curve, C is the only point of which it is on a curve that is to the right of the original supply curve.
-
Did a mistake
and
No Problemo 8)
No problemo too then senor 8)
The demand curve and supply curve both shifts to the right, we can rule out D as it is on the same demand curve, C is the only point of which it is on a curve that is to the right of the original supply curve.
Good to know I'm not the only one. :D
-
No problemo too then senor 8)
Good to know I'm not the only one. :D
Wait ... The answer is not C ???
-
Wait ... The answer is not C ???
It is. Arsenal answered already.
I repeated after.
You repeated what I repeated. ;)
-
D
Labour is the children
Water is the natural resource (land)
-
I've done all ;)
-
oh i thought the water thing was obvious, so i picked C cuz i thought they wanted another natural resource example... i lose so many marks for stupid mistakes :(
anyway thanks!
(By the way, how many past papers have you done?)
try to minimize your mistakes to atleast 4 or 5
and you are set for a A star iA
-
I've done all ;)
WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
-
WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
when it says it depreciates against the US dollar,it means US dollar is becoming expensive
-
WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
B is impossible
How could Imports of UK be getting more expensive when its depreciating against US dollar
-
WOW Ben seriously? You've done all MCQ from 2002 up till now, including MJ & ON? OMG
Anyways, can anyone please explain to me what is meant by this "US dollars will be dearer in terms of UK pounds." I don't understand what does dearer in this case means. And for this question, I put B but the answer is D.
Thanxx
Dearer means more expensive. As a currency depreciates imports become more EXPENSIVE and exports CHEAPER. MEMORISE THIS !!!
Because of the above rule it cant be either A or B.
With a depreciation in currency An American needs to spend LESS to get 1 pound then compared to before.
He WOULD have had to spend $1.8 to get 1 pound. Now he needs to spend $0.30 LESS.
A Britisher needs can only hope to purchase $1.50 compared to $1.80. A britisher needs to SPEND MORE to get the same value in American Currency than before.
Got it ?
-
Dearer means more expensive. As a currency depreciates imports become more EXPENSIVE and exports CHEAPER. MEMORISE THIS !!!
Because of the above rule it cant be either A or B.
With a depreciation in currency An American needs to spend LESS to get 1 pound then compared to before.
He WOULD have had to spend $1.8 to get 1 pound. Now he needs to spend $0.30 LESS.
A Britisher needs can only hope to purchase $1.50 compared to $1.80. A britisher needs to SPEND MORE to get the same value in American Currency than before.
Got it ?
Yes sir, I get it now. Thanxx :D +rep, very comprehensive & you seem very serious :P
Thanxx Arsenal as well. ;)
-
Serious ? LOL !
Do I seriously come across that way ? Maybe its my formal tone; I cant get rid of it :-\
-
Lolz you sound like you are in a bad mood ;D
By the way you actually did all the multiple choice papers from 2002 till now?
-
I am mentally disorientated right now....
Yes, I actually did ALL.
-
I am mentally disorientated right now....
Yes, I actually did ALL.
OMG, tough competition here :-\. You will be one of those people who'd make the grade boundaries higher :P
Can anyone please explain to me why the answer to this question is A? I put D
-
Beef is a visible good
So its in the current account
Tourism is a invisible good so it must be recorded on the invisble good section.
Insurance is also a invisible good and it is recorded on the invisible service section
A is the answer because that is recorded on the Capital account of the BOP
-
Beef is a visible good
So its in the current account
Tourism is a invisible good so it must be recorded on the invisble good section.
Insurance is also a invisible good and it is recorded on the invisible service section
A is the answer because that is recorded on the Capital account of the BOP
Ah right, I didn't revise capital account, only learned current account. No wonder, thanxx a lot.
+rep Oops I already +rep Ben so I'll +rep to you later :D
-
It wouldnt be D since tourism is a service that the country is exporting abroad to Italy.
A comes under Portfolio Investments in the Capital Account - obviously not in the current account. Hence its A :)
I'm not so sure about the explanation I gave regarding D but since A is DEFINITELY NOT recorded in the current a/c (as explained) I would choose A
-
It wouldnt be D since tourism is a service that the country is exporting abroad to Italy.
A comes under Portfolio Investments in the Capital Account - obviously not in the current account. Hence its A :)
I'm not so sure about the explanation I gave regarding D but since A is DEFINITELY NOT recorded in the current a/c (as explained) I would choose A
tourism is part of Current account Invisible section
-
tourism is part of Current account Invisible section
Cool, then my intuition was right ! ;D
-
@aangel Increased taxes would increase revenue to the GOVERNMENT. This is considered a private benefit. This is becasue the Gov., which is in effect the business in this scenario, is gaining money that will ONLY benefit ITSELF.
High taxes on cars will RAISE the PRIVATE COSTS of car owners. HOWEVER, if the costs of drviing a car RISE wouldnt you consider riding a bus instead ? It would be cheaper.
Thus, more people may choose to ride a bus or use their car less of the time. Hence, car pollution will fall and external benefits will RISE.
That is, you and me will benefit from the reduced car pollution.
-
No but the question is asking what is likely to happen to the external benefits if people CONTINUE to drive cars.
So what I'm trying to say is, external benefits rise because more money is raised.
At the same time external benefits FALL, because more pollution is taking place, and the charge was created in the first place to prevent pollution.
(I got the private costs part)
Sorry, I misread it. EXTERNAL BENEFITS to those who continue to drive will RISE due to lower TRAFFIC on the roads.
-
how do external benefits fall.
They are rising because of reduced pollution due to less cars being driven on roads and less traffic sorry didnt read the question
You could argue that more buses will be driven which will increae pollution but that is neither here or there
-
private costs will rise for the people who continue to drive cars as they have to pay tax
sorry i didnt read the question properly
-
Private Costs in this case are the costs the CAR OWNERS have to pay as tax to the gov. However, this tax is a PRIVATE BENEFIT to the gov.
-
High taxes on cars will RAISE the PRIVATE COSTS of car owners. HOWEVER, if the costs of drviing a car RISE wouldnt you consider riding a bus instead ? It would be cheaper.
Thus, more people may choose to ride a bus or use their car less of the time. Hence, car pollution will fall and external benefits will RISE.
That is, you and me will benefit from the reduced car pollution.
This is from before and applies now to this question.
-
A country has different rates of income tax depending on the level of income earned.
The highest rate of income tax is cut from 40 % to 38 %.
From this statement it can be deduced that taxation will become
A less indirect.
B less progressive.
C less regressive.
D more difficult to evade.
Income tax is ALWAYS progressive in nature. By reducing the percentage of income tax a lower amount of the HIGHER INCOME group's income will be taken away as tax.
Using this A, C and D are wrong. Leaving only B
-
aangel this will be the last question I answer - I have to go to sleep now ;)
Give me a few miutes.
-
Okay, the gov. set a price at a point such that PRICES would rise as a result of this new MAX PRICE.
Now if prices ROSE the new MAX PRICE set by the gov must be ABOVE the current market price.
SO demand and supply will change as shown.
The blue lines show how demand shifted outwards and suply shifted inwards in order to conform to the PRICE RISE that was seen.
-
Any more questions.
?
Anyone
-
but why isn't it increased government revenue?????? they get money right???
i feel like crying
The government doesn't count as an external benefit. It would be a private benefit for the government. But I do get what you inferrred; increase in govt revenue could cause the government to spend more on public and merit goods, thereby increasing external benefits. But, that's too indirect and there's a better option available :P
External Costs are costs made due to POLLUTION.
Hope you see this before you leave to school lol
-
Back from Econ P1, A* defo :D
-
Back from Econ P1, A* defo :D
:D Same
-
Please carry out all discussions in the 2010 May/June Exam Discussion thread.
https://studentforums.biz/index.php/topic,7273.0.html
-
??? I have a question. 2 measure living standards sometimes Real GDP is used.
There was an MCQ in sum paper i dunno which. The answer was that amount of working hours is not included in Real Gdp and that reduces its effectiveness. How is working hours related to living standards? I mean you can have a nice living standards at your workplace too cant you? Another option was that it omits cost of living. I chose that BECAUSE Real GDP measures changes in the cost of living but not the cost of living itself.
Whats the logic?
-
Your mother carries out domestic work cleaning the dishes and probably cooking food.
She effectively spent time on all of this output which is worth something. The major disadvantage of Real GDP as a measure of living standards is that it fails to include the working hours of a select group of individuals:
domestics servants and those in the informal economy.
GDP omits the cost of living.
REAL GDP takes into account changes in prices of commodities as compared to a base year.
-
Your mother carries out domestic work cleaning the dishes and probably cooking food.
She effectively spent time on all of this output which is worth something. The major disadvantage of Real GDP as a measure of living standards is that it fails to include the working hours of a select group of individuals:
domestics servants and those in the informal economy.
GDP omits the cost of living.
REAL GDP takes into account changes in prices of commodities as compared to a base year.
GDP does not account for invisible activity (e.g. DIY, black market) - in this case household chores, while there is output (e.g. meals), it is not included in the calculation of GDP as a whole ...
Real GDP basically adjusts for inflation, thus indicating whether real growth has took place.
-
:) 8)
-
:) 8)
keep up the gd work mate ;) :)
-
I am sitting in october november for eco .... can any1 plz upload some of the standard answers of past 3-4 years ... which can get be 75+/80 in paper 2
-
I am sitting in october november for eco .... can any1 plz upload some of the standard answers of past 3-4 years ... which can get be 75+/80 in paper 2
There is no easy way out in life, no one is going to do that for you.
Sit down and do the past papers (ALL OF THEM) and look at the MS and Examiner's Reports to check your answers.
Its up to you.
PS : The pattern has changed ;)
-
I got a A star in IGCSE economics this June.
At your service if any problem arises
-
Same here. A* isn't hard to get for Economics.