Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Business

Mate I don't know even know what an externality is

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Reply 182

Right another hour fp3 and I'll start business I'll message you if I need help k noggster?

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Reply 183

Original post by Kiweefruit

Your kidding right? How prepd are you?

I do not kid! :biggrin:

Seriusly, not prepared at all! I have good grades in the other 3 units, but I haven't really looked at unit 4, apart form the pre-release, I have studied that inside out, but thats all :frown:

Reply 184

Original post by Noggster

I've got loads of note sheets i did for some guys in my class i can send if you want.

Yes yes yes please!!!! :smile:

)) I should of seriously came to this place sooner, everyone is so helpful!! :smile:

If you can yes please my email: [Removed - please use PMs or post here] I'd really appreciate it !! :smile:

Reply 185

sax100

Original post by Noggster

I've got loads of note sheets i did for some guys in my class i can send if you want.

can you send me those sheets, need alot of help..

thanks

Reply 186

Cabyo

[INDENT]

Original post by Casshern1456

Anyone taking this paper tomorrow? How are you doing with revision? :smile:

Currently cramming!

Reply 187

Original post by Kiweefruit

Your kidding right? How prepd are you?

Why is she kidding, I haven't done jack **** either revision starts now, I'll tell you my 100 in August :smile:

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Reply 188

Original post by Trollolollol

Why is she kidding, I haven't done jack **** either revision starts now, I'll tell you my 100 in August :smile:

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LOL. No was thinking about how ppl who panic attack the most almost always do like super brilliant!! Just finishing revision, doing a past paper..Im so lazy..:P just lost easy marks. % so tired of studying for these A levels.

Reply 189

Original post by ezelvyte93

I do not kid! :biggrin:

Seriusly, not prepared at all! I have good grades in the other 3 units, but I haven't really looked at unit 4, apart form the pre-release, I have studied that inside out, but thats all :frown:

Oh gosh. Do the feb 2012 past paper? The evidence for Feb 2012 and June 2012 is the same, except the last evidence. See if it rings a bell?
Do you have the A2 economics and business book? If you do, you can do a quick skim through and study the key words and concepts..! :O
I sadly have no notes to part with, they're handwritten and pretty yuck! :/

Reply 190

Original post by Kiweefruit

Ok ok, I need to just calm down, at the end of the day they always need people on tills at Tesco's! Just kidding! :smile:

Hmm No I don't have a book ;/ Hmm any topics you could suggest to look at? :smile:

) I am prepared to mail home made Chocolate brownies here as a thank you!!! haha :smile:

Reply 191

helloholls

ello there! just freaking out too..obviously.

I've found some stuff on like unit 4b stuff that could come up that you might not be able to write about the pre release. There was a question, im not sure if youve looked at the jan paper yet, about interest rates which was a bit of bitch. In that you wouldnt link it to the pre release or transport. so ya need to know like other stuff to put in.

Market failure as a general-what it is (inefficient allocation of resources)
-reasons (public goods, externalities, imperfect competition, inequity)

public goods (not provided by the free market because of the free rider problem)

and then stuff like cost-benefit analysis (weighing up benefits and disadvantages of a possible project which can suck sometimes because its hard to put externalities into monetary terms)

what collusion and cartels are (illegal)

-Office of fair trading and their aims and ditto for the CC and EU competition law

and yarr that should be fine, and obviously all the stuff posted before about interest rates and inflation :biggrin:

Reply 192

Original post by ezelvyte93

Ok ok, I need to just calm down, at the end of the day they always need people on tills at Tesco's! Just kidding! :smile:

Hmm No I don't have a book ;/ Hmm any topics you could suggest to look at? :smile:

) I am prepared to mail home made Chocolate brownies here as a thank you!!! haha :smile:

Aww! Noo! Ummm

Okay..here are titles of chapters:

Do markets always work?
How market work?
Market failure
Externalities
Externalities and government policy

Should market be regulated?
Why regulation is needed?
What the government does?
The effects of polices and implication for business

Can the government control the economy?
Macroeconomic problems & policies
Stabilisation policies
Supply side policies
Economic policy in an open economy
effectiveness of economic policy

Should the government intervene in society?
Why redistribute income
How and why does the government intervene?
Health issues
The environment
Transport
The implication for business

These are just the titles of chapter. I'll try and type up some notes of the top of my head and my yucky notes. It will be good revision for me too.

Reply 193

helloholls

also,anyone know how to answer this question (found it in gerald)

How would you go about persuading motorists that they should pay more taxes?

i cant really think of anything :/

Reply 194

Original post by Kiweefruit

I really hope you realise I'm not kidding about the brownies!! :smile:

I will be forever thankful for all of this!! Thank you thank you thank youu!!! :smile:

)

Reply 195

Do I get brownies for referring noggster and making him give you notes ^^. I will come to london just for the brownies :smile:

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Reply 196

Original post by ezelvyte93

Ok ok, I need to just calm down, at the end of the day they always need people on tills at Tesco's! Just kidding! :smile:

Hmm No I don't have a book ;/ Hmm any topics you could suggest to look at? :smile:

) I am prepared to mail home made Chocolate brownies here as a thank you!!! haha :smile:

Okay um hello holls has covered more or less most of it..

Original post by helloholls

what was missed out..

Externalities= external benefit+ cost incurred by unrelated third parties

Social cost> private cost= negative externality
Social benefit> private benefit= positive externality

Private cost (internal to individuals/firms)and benefits (received by firm/individual on purchase of good/services)
Social cost( private cost+external cost) and benefits (private benefit+ external benefit)
External cost (negative effect on a third party due to the actions of a firm/individual's using of a product/service) and benefits ( positive side effect received by a third party as a result of firm/individual's spending)

Equity (fairness in income distribution) and Equality (a situation wherein the income difference are drastic!)

Marginal Analysis: gives us an idea of suitable quantity to be produced

Marginal Social Cost and Marginal Social Cost
efficient/optimum level= MSC= MSB (no externality)

Macro economic policies

Circular flow of money
Multiplies effect
Leakages and Injections

Government Objectives:
Sustained economic growth
Stable prices
Increasing employment and social welfare levels
Balance of payments

Measuring Inflation: Retail Price Index and Consumer Price Index

Umm excuse the info overload..hope that helped.. :colondollar:

Reply 197