AS LEVEL: Economics Edexcel 2016 Unit 1 PREDICTIONS

Scroll to see replies

Did anyone here do the old spec for unit 1 econ??
if so what was the answer to the first Q?(the one about opportunity costs)

Reply 41

BIGBOI A

Original post by somebodyelse98

guys did anyone else find that exam awful? For the government intervention to Lake Navaisha what did people say, because I talked a bit about taxation but my answer was so rubbish...

was that question 10?

Reply 42

somebodyelse98

Original post by BIGBOI A

was that question 10?

no don't think so this was on the new spec!

Reply 43

Pingu17

I talked about putting a permit system in place where the quantity extracted would then be limited but I think taxation would have been a way better answer!!

Reply 44

somebodyelse98

Original post by Pingu17

I talked about putting a permit system in place where the quantity extracted would then be limited but I think taxation would have been a way better answer!!

lot's of my friends said what you did, and included regulation and a quota system which made more sense to me looking back! but oh well - only 3 marks and have much bigger issues with the 15 mark one....

oh and the one on cross elasticity that i had no idea was even about XED...!!

Reply 45

Pingu17

Original post by somebodyelse98

wait, there was a question about XED?????
oops there goes a few more marks

Reply 46

somebodyelse98

Original post by Pingu17

wait, there was a question about XED?????
oops there goes a few more marks

yes apparently!! the help to buy scheme was a cross elasticity question as it asked about the effect on the RENTAL MARKET not the HOUSING MARKET.
So i screwed that one up big time! didn't even read the question lol

Reply 47

Pingu17

Original post by somebodyelse98

Let us all hope for low grade boundaries...

Reply 48

Laurie_H

Original post by somebodyelse98

To me it didn't seem to make sense to use XED to answer that question. It mentioned a rise in demand for housing, which would lead to a price rise. Rental housing and purchased housing are substitutes, i.e. have positive XED, so that would suggest a rise in demand for rental housing. But it seems obvious that consumers are switching from renting to buying, and demand for rental housing is falling, which confused me.

Reply 49

Lauramacrae

Original post by BIGBOI A

Did anyone here do the old spec for unit 1 econ??
if so what was the answer to the first Q?(the one about opportunity costs)

I put D altho not sure if that was right

Reply 50

Dylanmann

Original post by BIGBOI A

Did anyone here do the old spec for unit 1 econ??
if so what was the answer to the first Qi ?(the one about opportunity costs)

I put the one about economic growth output at W being greater or whatever.
Do you remember what you put for the other multiple choice questions ?

Reply 51

MontyK123

Original post by Dylanmann

I put the one about economic growth output at W being greater or whatever.
Do you remember what you put for the other multiple choice questions ?

I went through each question with my teacher after and she said that one was correct, I don't know the exact order but the last question was selling stock from its wheat pile, the only one I got incorrect was the one about the producer surplus as it was improvements in technology but I wrote about the flooding in brazil or somewhere