Hey! Sign in to get help with your study questionsNew here? Join for free to post

Help with 20 mark question (OCR) (Macro Economics )

Announcements Posted on
Uni student? You could win a Samsung Galaxy S7 or £500 of travel vouchers by taking this quick survey 05-05-2016
  1. Offline

    ReputationRep:
    Hi i am struggling to answer this particular question for AS macroeconomics

    How to structure this question? and what is necessary to discuss and evaluate?

    The question is :

    "In the Global Competitiveness Index for 2013–2014 the UK economy was placed tenth in the world."

    Evaluate, with the aid of an appropriate diagram(s), the potential impact on the UK economy of an improvement in its international competitiveness. (20 marks)

    thanks for any help given
  2. Offline

    ReputationRep:
    You could check the mark scheme for ideas
    http://www.ocr.org.uk/Images/170861-...t-material.pdf

    L3: impact on 2 or 3 macroeconomic objectives
    L4: evaluation
  3. Offline

    ReputationRep:
    Suggested structure
    Define international competitiveness and outline the factors that affect it, eg unit labour costs.
    Explain the connection between improved competitiveness and an increase in exports and fall in imports.
    ADAS diagram showing a shift in AD
    Implications for the UK economy in terms of impact on the macroeconomic objectives
    Evaluate - improvement in competitiveness may only be short term
    - exports are a relatively small proportion of AD so impact may be small
    - Other countries may improve their competitiveness too so UK needs to improve faster than others for there to be an impact.
    Hope that helps
  4. Offline

    ReputationRep:
    (Original post by mapotts53)
    Suggested structure
    Define international competitiveness and outline the factors that affect it, eg unit labour costs.
    Explain the connection between improved competitiveness and an increase in exports and fall in imports.
    ADAS diagram showing a shift in AD
    Implications for the UK economy in terms of impact on the macroeconomic objectives
    Evaluate - improvement in competitiveness may only be short term
    - exports are a relatively small proportion of AD so impact may be small
    - Other countries may improve their competitiveness too so UK needs to improve faster than others for there to be an impact.
    Hope that helps
    Wow Thanks a lot mate, that actually helped so much

    Thank you soo much
  5. Offline

    ReputationRep:
    (Original post by Junaid12)
    Wow Thanks a lot mate, that actually helped so much

    Thank you soo much
    No problem. Glad to be of help

Reply

Submit reply

Register

Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?
  2. this can't be left blank
    this email is already registered. Forgotten your password?
  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. Oops, you need to agree to our Ts&Cs to register
  2. Slide to join now Processing…

Updated: April 25, 2016
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Today on TSR

CIE AS biology

Chat about your exam here

Poll
Will you be voting in the elections today?
Quick reply
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.