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

Economics exam discussion - share revision tips in preparation for GCSE, A Level and other economics and discuss how they went afterwards.

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  1. tajmahal's Avatar
    • Benevolent Member
    • Location: Spain
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    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    anyone able to explain the difference between equity and equality? :confused: plz...
    i need a dummy explanation so i can understand it at least...also if an example is provided, it would make things clearer... thanks
  2. Casshern1456's Avatar
    • Vengeful, Imperial Overlord of The Student Room
    • Location: London
    • Posts: 4,844
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    Does anyone have any insights into the case-study breakdown what are the main points, I'm sitting it as a private candidate and this one needs work.
  3. jmsigoe's Avatar
    • Junior Member
    • Posts: 28
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by tajmahal)
    anyone able to explain the difference between equity and equality? :confused: plz...
    i need a dummy explanation so i can understand it at least...also if an example is provided, it would make things clearer... thanks


    Hi

    Equity refers to the level of 'fairness ' wealth and status is distributed in society.

    Whereas equality is how close this distribution is. For example in Afrrica there is a larger gap between the wealthiest and the poorest. Equality can be shown using the Lorenza curve which you can google.

    Hope that helps
  4. Laura-Robbie's Avatar
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    • Location: Gosport, near portsmouth
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    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    gerald wood is great,, whats the transport thing though i didn't even realise there was anything to do with that, can someone please explain?? also what 30 markers do people think will come up??? and 20
  5. Laura-Robbie's Avatar
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    • Location: Gosport, near portsmouth
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    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    oh and sorry whilst i think of it does anyone have a glossary for unit 4???
  6. Eavis's Avatar
    • Junior Member
    • Location: Bristol, UK
    • Posts: 53
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by Laura-Robbie)
    gerald wood is great,, whats the transport thing though i didn't even realise there was anything to do with that, can someone please explain?? also what 30 markers do people think will come up??? and 20
    My teacher doesn't think transport will come up in the exam, because there's literally nothing that the case study can link it to is there? But you never know, they may chuck in a curveball question and knock us all on our asses!

    I reckon it'll be one about the licence fee! Hope so anyway.
  7. Eavis's Avatar
    • Junior Member
    • Location: Bristol, UK
    • Posts: 53
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by bradshawi)
    Hi, I don't have anything to contribute to this thread. So apologies in advance if you find this comment annoying. I have just started this course. I am in year 12 but my sixth-form requires the students to return after the AS level exams to continue with their subjects. Slightly annyoing, but it's six weeks of important studying..Anyway, I was wondering whether I should consider continuing with this subject at A2? I have to carry on with all of my four subjects until my results are avaliable.

    Are the units 3 and 4 interesting?

    Thanks to anyone who replies
    Unit three is really interesting- and really relevant.

    Unit four completely depends on the case study you have to relate the spec to- I've hated unit four but that's because we've had an awful case study. Chances are you'll be luckier!
  8. Laura-Robbie's Avatar
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    • Location: Gosport, near portsmouth
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    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    yeh i hope its the licence fee, i can do some really good 30's for that so that will be good if it does,i think i might do the essays first though because you get the marks for evaluatin and stuff and the first two questions are definitions with 2 marks and its better to run out of time doing that than a 30 marker lol
  9. Eavis's Avatar
    • Junior Member
    • Location: Bristol, UK
    • Posts: 53
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by Laura-Robbie)
    yeh i hope its the licence fee, i can do some really good 30's for that so that will be good if it does,i think i might do the essays first though because you get the marks for evaluatin and stuff and the first two questions are definitions with 2 marks and its better to run out of time doing that than a 30 marker lol

    That's a good idea! I think I'm going to go through systematically though, I find the easy two-markers are much needed confidence boosters.
  10. Laura-Robbie's Avatar
    • Full Member
    • Location: Gosport, near portsmouth
    • Posts: 139
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    yeh i guess so, i think i'll look at the big questions and if it's the ones ive practised ill do them but otherwise do the smaller qustions so like you said i can gain confidence and hol my breath fopr the 30's lol
  11. SoniaXX's Avatar
    • Junior Member
    • Posts: 50
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by tajmahal)
    hey..interesting links to the syllabus...
    would u be interested to revise together..
    through this hopefully, both will learn and strengthen their weaker areas
    let me know...pm
    hey how did you get that exam countdown pencil thingy?
  12. SoniaXX's Avatar
    • Junior Member
    • Posts: 50
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by Eavis)
    My teacher doesn't think transport will come up in the exam, because there's literally nothing that the case study can link it to is there? But you never know, they may chuck in a curveball question and knock us all on our asses!

    I reckon it'll be one about the licence fee! Hope so anyway.
    what if the extra evidence given is related to it?

    but yeh i hope is about the licence fee too
  13. SoniaXX's Avatar
    • Junior Member
    • Posts: 50
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    has anyone looked into the Youview, and seasaw OD ventures? you should if you havent already, as you cn relate it to the pre-release and also it will show wider knowledge in the exam.
  14. SoniaXX's Avatar
    • Junior Member
    • Posts: 50
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by bradshawi)
    Hi, I don't have anything to contribute to this thread. So apologies in advance if you find this comment annoying. I have just started this course. I am in year 12 but my sixth-form requires the students to return after the AS level exams to continue with their subjects. Slightly annyoing, but it's six weeks of important studying..Anyway, I was wondering whether I should consider continuing with this subject at A2? I have to carry on with all of my four subjects until my results are avaliable.

    Are the units 3 and 4 interesting?

    Thanks to anyone who replies
    Unit three is quite easy, you just need to understand Multinational businesses, reasons to move abroad, and to become a multinational etc etc everyone in my class found it as easy as unit 1...

    Unit 4, you will Learn stuff you may not even need in the exam, however this is the case for many subjects. the exam is based on a pre-release booklet which contains 9 extracts. This may put you off, as you have to fully understand it, annotate it and do some wider reading into it. It may sound time consuming, however keep in mind that it is an A2 module therefore a lot more work will be put into these exams.

    Good luck with making the decision!
  15. Eavis's Avatar
    • Junior Member
    • Location: Bristol, UK
    • Posts: 53
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by SoniaXX)
    what if the extra evidence given is related to it?
    That's what I meant by the curveball question- the additional evidence may be related to it. I do doubt it will be though, as the only real relation the broadcasting industry has to transport and the environment is maybe the fact that the media can publicise the problems we have- although the case study is more focussed on the industry itself rather than its impact on other things.

    Can you think of any other links the broadcasting industry has on the environment and transport?
  16. SoniaXX's Avatar
    • Junior Member
    • Posts: 50
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by Eavis)
    That's what I meant by the curveball question- the additional evidence may be related to it. I do doubt it will be though, as the only real relation the broadcasting industry has to transport and the environment is maybe the fact that the media can publicise the problems we have- although the case study is more focussed on the industry itself rather than its impact on other things.

    Can you think of any other links the broadcasting industry has on the environment and transport?
    No I can't my teacher was trying to find some links too and he wasnt able to, so fingers crossed, it wont come up
  17. Eavis's Avatar
    • Junior Member
    • Location: Bristol, UK
    • Posts: 53
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by SoniaXX)
    No I can't my teacher was trying to find some links too and he wasnt able to, so fingers crossed, it wont come up
    I think it would be really unfair if they were to bring it up in the exam, and we couldn't realistically gain any application marks, because it's impossible to relate it to the case study! Tomorrow I'm just going to spend my whole day doing any practice 30 mark question under the sun, and maybe look at the transport/ environment topics.
  18. ainejanemc's Avatar
    • New Member
    • Posts: 14
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by ella14)
    hey..
    so ive just been revising the gerald wood yellow booklet really then relating it to the pre-release booklet, and revising the syllabus at the same time. But how do you answer a 30 mark question?! no idea! and also is the broadcast industry a public good/merit good/demerit good?
    The broadcast industry in general is all three...

    Public service broadcasting, i.e. the BBC, is a merit good

    Before the advent of Sky and things television viewing was a Public good. But now that sky can encript its signal it is not wholly non-excludable so cannot be a pure public good.

    And programmes which create negative externalities such as those of a violent/sexual nature can create negative externalities making them a demerit good!

    Hope that helps somewhat!
  19. ainejanemc's Avatar
    • New Member
    • Posts: 14
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    (Original post by bradshawi)
    Hi, I don't have anything to contribute to this thread. So apologies in advance if you find this comment annoying. I have just started this course. I am in year 12 but my sixth-form requires the students to return after the AS level exams to continue with their subjects. Slightly annyoing, but it's six weeks of important studying..Anyway, I was wondering whether I should consider continuing with this subject at A2? I have to carry on with all of my four subjects until my results are avaliable.

    Are the units 3 and 4 interesting?

    Thanks to anyone who replies
    Do it, because it's interesting and no very hard and the grade boundaries are very low! Only needed 67% last year to get an A!!!
  20. cORBO3's Avatar
    • Full Member
    • Posts: 75
    Re: Edexcel Economics and Business Unit 4B: The Wider Economic Environment and Busine
    Do you tguys think anything will come up on Fiscal,Monetary Policy, Supply Side Polices and Inquality, as these topics aren't covered in the pre-release.
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