IGCSE/GCSE/O & A Level/IB/University Student Forum
Qualification => Subject Doubts => IGCSE/ GCSE => Commerce => Topic started by: devileye on June 01, 2009, 02:26:14 pm
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:o guy let's discuss eco...we can take situations ..and analyze them...and clear all our doubts....well nayways my first doubt sis what are the : private and social costs and benefits and discuss conflicts of interest in relation to these
costs and benefits in the short term and long term through studies of the following issues: quoted frm syllabus...plz help ???
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even i need help on this topic????
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if this wud help u...
*private cost are the firms own cost arising out of a business decision.e.g rent,wages
*external cost are the cost disadvantages incurred by the society caz of a business decision.towards which no payment is made.e.g pollution
*private benefits are the firms own benefits arising out of a business decision.e.g profit
*external benefits are the adv.the society gets caz of a business deciosion.e.g new roads..new street lyts..
social cost= PC + EC
social benefits = PB + EB
hope it helps..
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u guys, im soooooooo nervous for tom, i cn hardly breath :( :(
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its critical evaluation ryt ???
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if this wud help u...
*private cost are the firms own cost arising out of a business decision.e.g rent,wages
*external cost are the cost disadvantages incurred by the society caz of a business decision.towards which no payment is made.e.g pollution
*private benefits are the firms own benefits arising out of a business decision.e.g profit
*external benefits are the adv.the society gets caz of a business deciosion.e.g new roads..new street lyts..
social cost= PC + EC
social benefits = PB + EB
hope it helps....>>>>>>>>>>>>yep dude this helped thx...By the way does services come under external benfits....and what are the possible conflicts between government aims. sum 1 plz anser this... ::)
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yea services do cum under benefits..
abt the govt.thing..
all i knw is tht wen externalities occur the market fails.
wat the govt does in social cost is :
fines
legalaction
legeslation
taxes
nationalisation
and in social benefits they
give subsidies
and less taxes...
i think conflicts wud arise frm these points
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yep dude this helped thx...By the way does services come under external benfits....and what are the possible conflicts between government aims. sum 1 plz anser this... ::)
services are external benifits because they help society. eg. hospitals helps society by reducing illnesses, schools help society by reducing illiteracy
examples of conflicting aims:
aim : high employment--> increase in demand pull inflation --> conflicts with aim of stable inflation
high employment --> higher incomes --> could be spent on imported goods --> worsen balance of trade .this conflicts with the aim of maintaining a healthy balance of trade
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dude wat do u exactly mean by externalities...cn u give a brief discription...:o
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externalities are basically all the external things..
SB > SC its economic use,worthwhile..
SC>SB uneconomic, nt worthwhile...
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hmm..but my teacher tld that EC=XB if either is more then it's a problem ..or i think a situation such as this cnnt exist cz wen external benefits are more even external costs will be more..as more production means more benefit and causes pollution for instance isn't it..?? wat do us say???
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hmm..but my teacher tld that EC=XB if either is more then it's a problem ..or i think a situation such as this cnnt exist cz wen external benefits are more even external costs will be more..as more production means more benefit and causes pollution for instance isn't it..?? wat do us say???
guys be calm and use common sense..see things clearly and read the question properly..there is no such thin as large definations or calculations in p3...its all about case study..when u go to the centre...read the extract 2 or 3 times to get a clear idea what is it about...prolly the last question u will stuck up but dont worry evey1 will...try ur eternally best in small questions the 1 containing 2 or 3 or 4 marks so that 25 or 23 is atleast garunteed.which is an A..anything in 30 and u get A star.
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How do u calculate inflation?
U take a base year and then make a list of products and then....!!???!?
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well ur write...but do we gt defintions....it's mainly using brain....is there anything to mug up...or understand...like can they ask for calculation gdp....or nnp or rpi...or it's just questions abd basic answers...??
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yea thts ryt it'll be a problem..
govt.do take action it doesnt really happen..
yea ur thing is ryt...
((as more production means more benefit and causes pollution for instance...))
but it all depends on business decisions
anything above 30..A hmm ok...
thanx for letting me knw tht.
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well ur write...but do we gt defintions....it's mainly using brain....is there anything to mug up...or understand...like can they ask for calculation gdp....or nnp or rpi...or it's just questions abd basic answers...??
nope..there are hardly any calculations in eco..and they r too easy.jus see the formula and ur done...the one abt 2 or 3 or 4 marks..some are basic some are common sense like what are the harms to the society of rising exchange rate and this for3 marks..write 3 points like expensive exports,cheap imports and rising mony supply and u get 3 marks...all in all do u level best in these short type questions
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just to clarify tommorows exam the paper 3 one is formerly known as paper 6 yeah ? .Cuz some dude called 7ood in another thread said it isnt :S
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it's called paper 3...chek in the statement...
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yeah i know its paper 3 .... It was called paper 6 before yeah ?
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ohh..yes it was...like maths paper 2 was colled paper 22!!l lol hey btwwhat are they ??? differences in living standards within countries and between countries, both developed
and developing.
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Nice topic man.... !!!
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hmm..but my teacher tld that EC=XB if either is more then it's a problem ..or i think a situation such as this cnnt exist cz wen external benefits are more even external costs will be more..as more production means more benefit and causes pollution for instance isn't it..?? wat do us say???
guys be calm and use common sense..see things clearly and read the question properly..there is no such thin as large definations or calculations in p3...its all about case study..when u go to the centre...read the extract 2 or 3 times to get a clear idea what is it about...prolly the last question u will stuck up but dont worry evey1 will...try ur eternally best in small questions the 1 containing 2 or 3 or 4 marks so that 25 or 23 is atleast garunteed.which is an A..anything in 30 and u get A star.
do u think we'll get RPI or CPI? and wt is it out of?
im rlly nervous :(
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y cnt i vote any 1..!!!! i mean give a + or -!!! cn sum 1 tell plzzz
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yes we may gt rpi just go to google and cee hw to calculate it
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hmm..but my teacher tld that EC=XB if either is more then it's a problem ..or i think a situation such as this cnnt exist cz wen external benefits are more even external costs will be more..as more production means more benefit and causes pollution for instance isn't it..?? wat do us say???
guys be calm and use common sense..see things clearly and read the question properly..there is no such thin as large definations or calculations in p3...its all about case study..when u go to the centre...read the extract 2 or 3 times to get a clear idea what is it about...prolly the last question u will stuck up but dont worry evey1 will...try ur eternally best in small questions the 1 containing 2 or 3 or 4 marks so that 25 or 23 is atleast garunteed.which is an A..anything in 30 and u get A star.
do u think we'll get RPI or CPI? and wt is it out of?
im rlly nervous :(
yes we may..read the whole chapter if u feel nervous..plz dont
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hey guys this is site is gra8 help a lot check it out>>>>>>>>> http://www.dineshbakshi.com/economics/index.html
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Hey you guys can anyone help me with Q1 (d) i. in May June 2008
Here's the question paper!
http://www.freeexampapers.us/IGCSE/Economics/CIE/2008%20Jun/0455_s08_qp_6.pdf
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Hey you guys can anyone help me with Q1 (d) i. in May June 2008
Here's the question paper!
http://www.freeexampapers.us/IGCSE/Economics/CIE/2008%20Jun/0455_s08_qp_6.pdf
look when the government taxes the firm...the average cost of the firm rises...so the firm has to cut back the output to cover up the cost so the supply curve shifts to the left,when the govt gives subsidies to the firm,the firm has more money to increase output plus by increasing the output the firm gets more money than ever so the supply curve shifts to the right...when you hve the D and S diagrams u can explain everything
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Is There any tip on How to answer the Questions on paper 3 ?
I find this paper very hard
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do u think we'll get RPI or CPI? and wt is it out of?
we'll either only get CPI, or we'll have to compare CPI and RPIX. Quite a few people have only said RPI, WE USED RPIX before 96 or wheneverr
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does any body had a teacher predict the topics that are coming tomorrow ? i need to know fast please as i this not study because got distracted from other topics.
thanks
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dude just stick to the syllabus!!! everything is in there..and i posted a site it's grate i have not touched my book i ma only revising frm there...i will post the site again fr u..>>> http://www.dineshbakshi.com/economics/index.html and relax it's jst a evaluation paper..most of the things u need to think and write so chill...
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dude just stick to the syllabus!!! everything is in there..and i posted a site it's grate i have not touched my book i ma only revising frm there...i will post the site again fr u..>>> http://www.dineshbakshi.com/economics/index.html and relax it's jst a evaluation paper..most of the things u need to think and write so chill...
thanks but still lots to revise =(
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yep that's true but it's gud ...relax...
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Is There any tip on How to answer the Questions on paper 3 ?
I find this paper very hard