IGCSE/GCSE/O & A Level/IB/University Student Forum
Qualification => Subject Doubts => GCE AS & A2 Level => Commerce => Topic started by: lucien2a on November 06, 2009, 04:57:42 am
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How was you Economic paper 2? I hope my tips and other people who ghad posted the tips had help you in paper 2.
Paper 1 for the calculation part (as a person had ask):
-Elasticity
-inflation rate
-Exchange rate
-Market failure ( cost and benefit)
-BOP
I may have more but i cannot think it yet. May be later .Good luck
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Thanks for the tips for Paper 2. They were really helpful.
Good luck for your exams too :)
Paper 1 - cannot really forecast anything. Just work loads of past exam questions!
P.S: Was your data response question on elasticity? I think the papers this time are not the same around the world..
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Priya,
do you mean the food weightage?
I took that paper ;D
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The data response in the paper which I took was on income elasticity and price elasticity of air travel.
In Section B, I did an essay on how does price change following a decrease in supply and the second part was on effectiveness of government intervention.
The paper was easy overall...
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Hey Priya,
I took zat paper 2,
where r u from??
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^^ From Mauritius.. What about you? :)
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Im from Mauritius 2 ;)
Any tips 4 paper 4???
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Im from Mauritius 2 Wink
Any tips 4 paper 4???
Twinsis dont even think about it.... if the mods catch u then u will be banned...
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Relax,i was just asking about important chapters 2 revise zat's all!!
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@ Ari Ben Canaan:
I don't think predictions are not allowed because we did post forecast topics (well before the exams - one week?) for Economics Paper 2 and they were not deleted.
It's another thing altogether, if the "probable topics" were right on spot :) :D
Relax,i was just asking about important chapters 2 revise zat's all!!
@Twinsis:
Hugs ;) Did you make that username thinking of me? :) lol
Likely essay questions according to me:
(1) Allocative/Productive efficiency
(2) National Income + standard of living
(3) One question on theory of firm - most probably on oligopoly
(4) Alternative objectives of government and conflicts
(5) Please God, let us have an essay on wages and wage differentials!! :-\
(6) Monetary/fiscal policies + Keynesian economics
As a precautionary measure, prepare unemployment and economic growth well too.
For the data-response, I think trade and exchange rates.
Any tips you want to share?
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is this for ICE or NUffield (edexcel)??
what kind of questions are there?
is it like problem solving question,essay types or not?
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CIE
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Hi lucien2a,
it looks like you and I would most likely sit for the same paper! i got that data response too! i did the question about public goods and social costs! what about you?
By the way, do you have any predictions regarding tomorrow's paper?? i'm nervous like nobody's business! >< i have no idea what to expect!
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good luck to ol those taking exams for eco p4 2morrow..
gonna b hard!!!! :'(
what do u guys think about p2??
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hi! hahaha! did you sit for the one with the data response on food weightage?
i found that data response hard to figure out. >< and i've never really had been able to finish a question paper, but the essays were ok for me! which did you do?
are you sitting for paper 4 tomorrow? and thanks for the luck, will be needing all i can get ><
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hey guys all of ya......even i did the food weightage thingy...amusingly my data respnse went better than essay where i chose the subsidy and air travel; question........was so tense about the paper............by da way these were the question PLEASE MARK ME ALL YOU ECO STUDENTS
a) explain effect of subsidy on govt and consumer expanditure
b) Discuss the reduced airfare on a low budget airline on its market and the markets related...
a)
i first defined subsidy and then drew diagram on effect of subsiy.......next i drew another diagram shading the govt expenditure showing its increase...............and explaining it and then i drew one more diagram shading the fall in producer expenditure and xplaing it.........8 marks questiion wat would u mark me
b)
first described effect on good with diagram..........fall in price , higher supply more demand. then i referred to its elastcity and how it would effect the change
then i defined substitutes and compliment good
then for each said the XED as positive or negative and showed therir effects with a diagram eg. increas deman and price forcompliment and fall for substitutes lastly
i said that if it was inferior airline then income changes may affect it.........and referred to the income elasticity of demanm.........it was 12 marks however i feel my discussion was very less at the end.....mark me
THANKS GUYS..........by da way how was todays paper........it was pretty easy.........am i allowed to discuss or wait.......
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hey guys all of ya......even i did the food weightage thingy...amusingly my data respnse went better than essay where i chose the subsidy and air travel; question........was so tense about the paper............by da way these were the question PLEASE MARK ME ALL YOU ECO STUDENTS
a) explain effect of subsidy on govt and consumer expanditure
b) Discuss the reduced airfare on a low budget airline on its market and the markets related...
a)
i first defined subsidy and then drew diagram on effect of subsiy.......next i drew another diagram shading the govt expenditure showing its increase...............and explaining it and then i drew one more diagram shading the fall in producer expenditure and xplaing it.........8 marks questiion wat would u mark me
b)
first described effect on good with diagram..........fall in price , higher supply more demand. then i referred to its elastcity and how it would effect the change
then i defined substitutes and compliment good
then for each said the XED as positive or negative and showed therir effects with a diagram eg. increas deman and price forcompliment and fall for substitutes lastly
i said that if it was inferior airline then income changes may affect it.........and referred to the income elasticity of demanm.........it was 12 marks however i feel my discussion was very less at the end.....mark me
THANKS GUYS..........by da way how was todays paper........it was pretty easy.........am i allowed to discuss or wait.......
For part a) I think it's fine, but they asked about consumer expenditure? Not producer expenditure. You're supposed to discuss government expenditure as well. For example like if you put a subsidy on petrol, how much the government would have to spend in order to pay up for the subsidies. I think you drifted away from it's meaning...
For part b) When price drops, you need not discuss about supply. And in actual fact, if you're in a business, you find that prices of goods are dropping, would you supply more? I doubt so. And your essays, from what I can see are very technical. You should give more examples. For instance, you can say that since airfares are being reduced, consumers may want to travel more often provided that their income does not decrease. This may lead to a boost in tourism and may either generate revenue domestically due to domestic travels or give the country an improvement in the current account balance if there are many tourists from abroad. However, countries which may have no value of travel may suffer an outflow of money in this sector which may lead to a CAD.
I think you can put it that way...
And By the way, the paper today was fine :) But it's better to not discuss it until 24 hours is over ;)
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As soon as u finish yur economics p4 paper on 12 November 2009...post v questions in this topic itself. P1 was fine 2d.
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Hey priya,thanks 4 ze prediction ;)really appreciate....
i was also thinking about national income + Standard of living, market structure n economic growth.....
In fact i can't rilly predict anything,just hope zat these chapters will come out :)
Gud luck 4 2mrw!!!
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For part a) I think it's fine, but they asked about consumer expenditure? Not producer expenditure. You're supposed to discuss government expenditure as well. For example like if you put a subsidy on petrol, how much the government would have to spend in order to pay up for the subsidies. I think you drifted away from it's meaning...
For part b) When price drops, you need not discuss about supply. And in actual fact, if you're in a business, you find that prices of goods are dropping, would you supply more? I doubt so. And your essays, from what I can see are very technical. You should give more examples. For instance, you can say that since airfares are being reduced, consumers may want to travel more often provided that their income does not decrease. This may lead to a boost in tourism and may either generate revenue domestically due to domestic travels or give the country an improvement in the current account balance if there are many tourists from abroad. However, countries which may have no value of travel may suffer an outflow of money in this sector which may lead to a CAD.
I think you can put it that way...
And By the way, the paper today was fine :) But it's better to not discuss it until 24 hours is over ;)
hey really Thanks alot yea sorry i posted the question wrong it was producer expenditure wat they wanted........not conusmer expenditure....yea u maybe rite that i was a bit too technical......ne ways so how much would u mark....me
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hey really Thanks alot yea sorry i posted the question wrong it was producer expenditure wat they wanted........not conusmer expenditure....yea u maybe rite that i was a bit too technical......ne ways so how much would u mark....me
Haha okay. Well, I wouldn't wanna judge on how much I would give you 'cause it'd wrong to give hope or depression. So, all I can do is just give you my opinion :) But from what I know, CIE prefers more evaluation. If you evaluated enough, it should be alright :D
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hey Graffitie..naa i do the 1 on air line company
gonna b rily rily hard 2morrow
God please help us!!! :-[
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hey Graffitie..naa i do the 1 on air line company
gonna b rily rily hard 2morrow
God please help us!!! :-[
You having Paper 1 tomorrow?
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ahhh. >< all the best to you too then! scrambling for time now, i have a tendency to panic during exams, am so afraid!! >< all the best to you too!
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Likely essay questions according to me:
(1) Allocative/Productive efficiency
(2) National Income + standard of living
(3) One question on theory of firm - most probably on oligopoly
(4) Alternative objectives of government and conflicts
(5) Please God, let us have an essay on wages and wage differentials!! :-\
(6) Monetary/fiscal policies + Keynesian economics
As a precautionary measure, prepare unemployment and economic growth well too.
For the data-response, I think trade and exchange rates.
Any tips you want to share?
Since 24 hrs are over for the paper 4, talking abt it...
@ twinsis: how was the paper?
I'm so glad we got a question on wages, efficiency, national income, economic growth and govt objectives... what I have been preparing all along. I did the essays on wages and efficiency related to market failure.
The data-response on standard of living was great too.
Hope my predictions helped you guys
By the way, you heard about the error in question 2 in the accounting paper 4. >:( So careless of Cambridge. I guess they will say that we should have understood it's a suspense balance. :-\
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Priya, u r so incredible :D
u save my life!!! Thanks a lot.. :-*
i did ze 1 on efficiency and national income...
the error is on question 1, ze partnership thing, i saw it on the news!!
but how did u find ze accounting paper 4 overall??
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You're welcome :) Hope our results are good 8)
I thought my questions 1 & 3 in acc paper 4 went awesome.. Didn't have any problem in question 1 ???
Only the balance sheet for the budget didn't balance by $8100. :( Ah, it's gone now... what is done is done. Overall, I found the paper easy... The first part in the 3rd question - Overheads Analysis Sheet - was almost like a gift ;D
Good luck for your Economics and Accounting Papers 3 remaining. :)
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Just got it confirmed from my accounts tuition teacher... The mistake was in question 2 - the question doesn't balance by $8100!! The MES has sent queries about this to Cambridge...
Hope students aren't marked unfairly. Just imagine students who spent much time searching the mistake which they might have done when they could have been working the theory questions better :'(
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Yeah u r rite....just heard it from 1 of my friends!!!
Gud luck 4 ze remaining exams :)