F581 OCR Economics May 18th

Clare1994

OP

Hey,
When you're doing a PPC question and it asks you to draw the diagram, do you always draw the curve or do you draw a straight line depending on the situation? I know that a straight line PPC represents a constant opp cost but in every exam question about ppc it has never mentioned this...

From what I know it doesn't matter however in doubt just draw a curve I wasn't even aware you could do it as a straight line diagram until today :L

Reply 21

Clare1994

OP

Original post by Notsureabout123

yay ! All the guys in my class seem to get it...then there's me. Is it just me or were GCSE's so much better, even though I've revised loads I feel so unprepared :/

Sure you'll do fine :smile:

anything in particular you're struggling on?

Reply 22

Notsureabout123

6

Original post by Clare1994

I'm sure you'll get it :smile:

My main problem seems to be 8 marker comment questions but I'm pretty surprised cause i'm resitting and basically haven't done any proper work on it till the weekend i seem fine with it all :L the last time i sat it was Jan last yr haha will be over the moon if i get an A will bring me closer to getting a B overall which i need to get into uni :smile:

Ahh I hope you do ok!! I'll keep my fingers crossed for you! I struggle with the essays :/ for the 'comment' questions I'm just going to re-use the old "depends on the extent of the shift" "depends if it's elastic" it seems to be the same stuff most of the time. I hope the paper isn't too hard

Reply 23

Clare1994

OP

Original post by Notsureabout123

Ahh I hope you do ok!! I'll keep my fingers crossed for you! I struggle with the essays :/ for the 'comment' questions I'm just going to re-use the old "depends on the extent of the shift" "depends if it's elastic" it seems to be the same stuff most of the time. I hope the paper isn't too hard

Yeah but usually there's one or two other points you can put for the comment although usually if you explain one point well on the 8 markers you can get up to 3 marks so guess it isn't too bad.
And I'm okay will them now i did essay plans for taxation, pollution permits, regulation and information provision.
I think the essay may be something like comment on how effective information provision maybe in comparison with one of the others as i don't think it's possible to do a whole 18 mark essay on it alone because there's not a great amount you can write.

Reply 24

Clare1994

OP

Just realised don't think specialiSation hasn't come up in ages might appear as a 4 marker?

Reply 25

eawilliams

2

Okay, I have attached all three, I don't quite know how to do this properly but please tell me if it worked! Trust me, these questions are REALLY helpful, they clarify you know everything! I think may have some on my hard drive for the next unit; F582

F581 Ch2 REVISION Qs.docx23.5KB

F581 Ch3 REVISION Qs.docx24.0KB

REVIEW QUESTIONSCh1.doc39.9KB

Reply 26

ashk9999

Original post by Clare1994

From what I know it doesn't matter however in doubt just draw a curve I wasn't even aware you could do it as a straight line diagram until today :L

Oh okay Thanks for that

Reply 27

Arsenal007

I need A economics to get into LSE

Reply 28

whufcftw

Original post by eawilliams

Okay, I have attached all three, I don't quite know how to do this properly but please tell me if it worked! Trust me, these questions are REALLY helpful, they clarify you know everything! I think may have some on my hard drive for the next unit; F582

thanks for that, its very useful... these seem to cover the most likely topics and helps know what i am weakest at

Reply 29

whufcftw

I found this very useful thread about 18 markers... http://www.thestudentroom.co.uk/showthread.php?t=1868624&page=2

i do recommend it if you struggle with 18 markers

Reply 30

Clare1994

OP

Original post by Arsenal007

I need A economics to get into LSE

reckon you'll get it?

Reply 31

Clare1994

OP

Original post by eawilliams

Okay, I have attached all three, I don't quite know how to do this properly but please tell me if it worked! Trust me, these questions are REALLY helpful, they clarify you know everything! I think may have some on my hard drive for the next unit; F582

wow your teacher seems to go way more into depth than needed such as devision of labour that's more like A2 economics! I can point out a few things which wouldn't come up in the exam.
It's actually annoying me to some extent cause looking at some of the questions i'm like you'd never have to do that in the exam. Just seems as if you're teacher is making it more complicated teaching you some stuff that you won't need for the exam. Although admittedly some of it is useful if you're carrying on to A2

Reply 32

JonathanHill

For the Production Possibility Curve question (if there is one), you should draw it as a curve rather than a line, cos' last time I did this test my friends who drew a line didn't get the marks; it's also cleaner and simpler to see if you do a curve.

And The last question has always been about negative / positive externalities, simply because this is the only thing big enough in the whole unit to do an 18 marker on.

I have 50 keywords in total for unit 1, even if they don't come up as a define question they're still useful in the 18 marker, and save time when explaining things. But the key ones are:

Scarcity, factors of production, perfectly inelastic, perfectly elastic, market failure, ceteris paribus, Price Elasticity of Demand/ Supply, cross elasticity of demand, income elasticity of demand, allocative efficiency, demerit/ merit goods, productive efficiency, equilibrium, negative/ positive externalities, PPC / PPF, inferior goods, normal goods, luxury goods, necessities, microeconomics, Marginal Social/ Private Cost, Marginal Social/ Private Benefit, price ceilings/ floors, market, producer/ consumer surplus, social welfare, elasticity, disposable income, deadweight loss, complimentary / substitute goods .

Seems like quite a list but all these will help you get closer to top marks if you use them well :biggrin:

Reply 33

Ravinaxx

Hey,
These questions are really useful.
Do you have any for unit 2 econ too?
Thanks

Reply 34

violethill

Wanted to give you all some advice. I did this exam in year 12 and didnt do very well so resat it in january. The best revision is learning everything in the text book word for word, i went up 2 grades in my micro and macro exams doing this. Also learn all the definitions because they are easy marks.

Looking at past papers PED is very unlikely to come up!

for the 18 marker, plan all the essays. they're mostly on market failure. For example when revising taxation, learn the definitions, then the diagram and explain it, its advantages/disadvantages and then for the 18 marks its effectiveness/commentry.

when doing a comment question mention:
elasicity - elastic more sensitive to a change in price so quantity demanded would fall a large amount than if it was inelastic.
estimate - figure is an estimate thus may be inaccurate
Time - short run/ long run - in short run comsumers find it hard to alter spending habits but in the long run they will find alternatives so the demand would fall
Size

Hope this helps and wish you all the best for tomorrow :smile:

Reply 35

eawilliams

2

Original post by Ravinaxx

Hey,
These questions are really useful.
Do you have any for unit 2 econ too?
Thanks

Hey,

I do have Unit 2 questions but I don't have access to them! I will upload them on Monday as I will be able to get them by then! Sorry!

Reply 36

eawilliams

2

Original post by violethill

Wanted to give you all some advice. I did this exam in year 12 and didnt do very well so resat it in january. The best revision is learning everything in the text book word for word, i went up 2 grades in my micro and macro exams doing this. Also learn all the definitions because they are easy marks.

Looking at past papers PED is very unlikely to come up!

for the 18 marker, plan all the essays. they're mostly on market failure. For example when revising taxation, learn the definitions, then the diagram and explain it, its advantages/disadvantages and then for the 18 marks its effectiveness/commentry.

when doing a comment question mention:
elasicity - elastic more sensitive to a change in price so quantity demanded would fall a large amount than if it was inelastic.
estimate - figure is an estimate thus may be inaccurate
Time - short run/ long run - in short run comsumers find it hard to alter spending habits but in the long run they will find alternatives so the demand would fall
Size

Hope this helps and wish you all the best for tomorrow :smile:

Hi, Thanks!
You know for size? Could you elaborate, like what does size mean in terms of a comment on question?

Thanks! (:

Reply 37

ashk9999

when doing a 18 mark essay question, is it necessary to involve a diagram?

Reply 38

aosm250

i think pollution permits is going to come up or regulation bc we only had that once and we had subsidies 2 taxation 3 times so either subsidy esssay again or regulation just take taxation out of the picture. : )