[dslc]

(Original post by nm786)
do we need to know all the determinants of C, I, G and (X-M)?
(everything that's in the book)

This is the very first thing mentioned on the specification for F582.

Candidates should be able to:
define aggregate demand, describe the components of aggregate demand and explain what determines each of them;

[nm786]

(Original post by dslc)
This is the very first thing mentioned on the specification for F582.

Candidates should be able to:
define aggregate demand, describe the components of aggregate demand and explain what determines each of them;

thanks mate,
i have downloaded a copy of the spec now,

[dslc]

(Original post by nm786)
thanks mate,
i have downloaded a copy of the spec now,

No problem mate. I've got noted:

CS: real disposable incomes, wealth, confidence and expectations, the interest rate, age structure of the population, distribution of income and inflation

Inv: firms expectations, capacity utilisation, current profit levels, corporation tax, the interest rate, technological advances and price of capital equipment

Gov: interventionist nature of party in power, level of economic activity, desires of the electorate, threat to domestic safety

Net Exports: real disposable income of consumers home and abroad, domestic price level, exchange rate and level of gov't restriction on free trade

[nm786]

(Original post by dslc)
No problem mate. I've got noted:

CS: real disposable incomes, wealth, confidence and expectations, the interest rate, age structure of the population, distribution of income and inflation

Inv: firms expectations, capacity utilisation, current profit levels, corporation tax, the interest rate, technological advances and price of capital equipment

Gov: interventionist nature of party in power, level of economic activity, desires of the electorate, threat to domestic safety

Net Exports: real disposable income of consumers home and abroad, domestic price level, exchange rate and level of gov't restriction on free trade

so much to learn right?

[JASApplications]

How's everyone's revision going? Just under 4 weeks till the exam...

[JASApplications]

(Original post by dslc)
Apologies for the quality, iSight < proper scanner.

Do have the mark scheme for this paper?

How do we you do "using case study, calculate country's output [2]" with the data given..

[dslc]

(Original post by JASApplications)
Do have the mark scheme for this paper?

How do we you do "using case study, calculate country's output [2]" with the data given..

I don't have the mark scheme I'm afraid, no.

But the question you refer to reads, Using information from the case study, calculate Latin America's output in 2010.

Knowing that additional detail, calculating output is easy.
You are told that Brazil is Latin America's largest economy, accounting for 33% of its population and 40% of its GDP in 2010.
Additionally, you are later told: in 2010 Brazil's GDP was US$2,052 billion.

Output is equal to GDP so if Brazil produced $2052bn worth of goods and services and that was 40% of Latin America's GDP, you can do (2052÷40)×100 to find Latin America's entire GDP (equal to $5130bn)

[JASApplications]

(Original post by dslc)
I don't have the mark scheme I'm afraid, no.

But the question you refer to reads, Using information from the case study, calculate Latin America's output in 2010.

Knowing that additional detail, calculating output is easy.
You are told that Brazil is Latin America's largest economy, accounting for 33% of its population and 40% of its GDP in 2010.
Additionally, you are later told: in 2010 Brazil's GDP was US$2,052 billion.

Output is equal to GDP so if Brazil produced $2052bn worth of goods and services and that was 40% of Latin America's GDP, you can do (2052÷40)×100 to find Latin America's entire GDP (equal to $5130bn)

Ah... I thought we were calculating Brazil's output, not Latin America's output! That's why I was confused!

Thanks!

[nm786]

Guys, see attached for January 2012 F582 Question paper and no i don't have the mark scheme, sorry.

[dslc]

Let's make sure we get lots of questions relating to the F582 syllabus (http://www.ocr.org.uk/download/kd/oc...d_gce_spec.pdf - page 12) to Geoff Riley tonight from tutor2u.

Any questions can be asked from 9pm (UK BST) tonight here: http://www.tutor2u.net/blog/index.ph...onday-30-april

Hopefully we can sway the questions largely towards the OCR syllabus!

[nm786]

guys i have just noticed that it says on the spec we have to define the terms economic stability and income redistribution but their definitions aren't in the book?

[Part A]

(Original post by nm786)
guys i have just noticed that it says on the spec we have to define the terms economic stability and income redistribution but their definitions aren't in the book?

Economic stability is the avoidance of volatility in interest rates, inflation rates, economic growth e.t.c

Income redistribution is just transferring income from different parts of society to even out the amount of wealth in a country.

Rough definitions, the economic stability one was in Jan 2012 F582 and that was the 2 mark answer..

[nm786]

(Original post by Part A)
Economic stability is the avoidance of volatility in interest rates, inflation rates, economic growth e.t.c

Income redistribution is just transferring income from different parts of society to even out the amount of wealth in a country.

Rough definitions, the economic stability one was in Jan 2012 F582 and that was the 2 mark answer..

thanks,

how do you know that was the 2 mark answer, do you have the mark scheme for this january's f582 paper?
if you do can you please upload it?

[Part A]

(Original post by nm786)
thanks,

how do you know that was the 2 mark answer, do you have the mark scheme for this january's f582 paper?
if you do can you please upload it?

Have it in paper form, may scan it tonight if I can get my printer to work.

[nm786]

(Original post by Part A)
Have it in paper form, may scan it tonight if I can get my printer to work.

thanks man, everyone is desperate to see the mark scheme lol.

[dslc]

(Original post by Part A)
Economic stability is the avoidance of volatility in interest rates, inflation rates, economic growth e.t.c

Income redistribution is just transferring income from different parts of society to even out the amount of wealth in a country.

Rough definitions, the economic stability one was in Jan 2012 F582 and that was the 2 mark answer..

I thought economic stability referred to lack of fluctuations in economic indicators. If so I wouldn't consider the interest rate to be included?

[Part A]

(Original post by dslc)
I thought economic stability referred to lack of fluctuations in economic indicators. If so I wouldn't consider the interest rate to be included?

You're probably right - thus I'd use inflation rate, economic growth rate as the two examples

[dslc]

(Original post by Part A)
You're probably right - thus I'd use inflation rate, economic growth rate as the two examples

Indeed

[nm786]

(Original post by Part A)
Have it in paper form, may scan it tonight if I can get my printer to work.

could you please upload the f582 mark scheme, sir?

[Groat]

(Original post by dslc)
I thought economic stability referred to lack of fluctuations in economic indicators. If so I wouldn't consider the interest rate to be included?

I'd agree with what you've said. Whenever I define economic stability I like to get a few points in:

Economic stability is the avoidance of volatility in economic growth rates, inflation and employment. This can be seen as an indicator of the government's ability to respond to external shocks. A stable economy promotes investment due to less uncertainty.