OCR Econoics Unit Two How the Economy Works GCSE
Business and management exam discussion - share revision tips in preparation for GCSE, A Level and other business and management exams and discuss how they went afterwards.
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OCR Econoics Unit Two How the Economy Works GCSEAny thoughts and feelings? Last minute revision help needed? Prediction for what could come up?
Good luck to everyone!
An economics teacher - who taught the woman that wrote the text book said we should DEFO concentrate on market failure. :/ -
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Re: OCR Econoics Unit Two How the Economy Works GCSELol my teacher also gave me some predicted questions(Original post by EvergreenSelen)
Gosh yeah, my teacher also have a list of predicted question for that. Will post that when tomorrow's over, figured that everyone's gonna need all the help they can get :/ I'll also post them tomorrow when I'm done
Good luck tomorrow! I hope it goes really well!
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Re: OCR Econoics Unit Two How the Economy Works GCSEIt was OK. We really are pushed for time in economics, it's a bit unfair tbh(Original post by EvergreenSelen)
Was that alright for you? TBH it coulda been a LOT worse. Though I was slightly blabbling of the last question when we were pushed for time...
Still, I managed to finish with about a minute to spare.
I thought it was harder than previous years tbh. I mean, the first essay question threw me a bit and so did the last one. What did you talk about in those essay questions?
I said that the demand for petrol is inelastic and stuff like that so I thought taxation may not be the best solution. However, I then drew a laffer curve to suggest that there may be a value of tax that is high enough to prevent people from buying petrol and using their cars.
For the last one, I thought the government should decrease spending. I said that regressive taxes lead to black markets so the government would just lose out altogether on collecting taxes. I said that progressive taxes may result in people moving abroad to find work and so, again, the government will lose out on taxes.
I said that reducing government spending is better as the only problem from this would be slightly higher unemployment and less economic growth, but these two problems could be combatted by other policies (like monetary policy).
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Re: OCR Econoics Unit Two How the Economy Works GCSEI did last years paper as a mock in January. Tbh, I thought that paper was much easier than this one today. I'm guessing there may be the same or lower grade boundaries. I don't think they will be higher.(Original post by blackjenny85)
Yeah, I found it OK too. I just finished on time with no time to spare.
Is this the first time you have done it and do you reckon that the grade boundaries would be higher or lower?
Lol I loved the inflation question(Original post by Lizzieflorence)
I thought it was OK, there were a few questions that were similar to ones I'd done before so that was good. A591 was easier though
I didn't do A591, I did it last year. Was it (a591) easier than last years paper, do you think?
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Re: OCR Econoics Unit Two How the Economy Works GCSE(Original post by usycool1)
I did last years paper as a mock in January. Tbh, I thought that paper was much easier than this one today. I'm guessing there may be the same or lower grade boundaries. I don't think they will be higher.
Lol I loved the inflation question I didn't do A591, I did it last year. Was it (a591) easier than last years paper, do you think?
okay, thats good. what are you hoping for?
i cant say, its the first time i have done it. what did you get for your A591? -
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Re: OCR Econoics Unit Two How the Economy Works GCSEIn A591, I scored an A. I really want to push economics up to an A*, but I don't think I have after today's paper tbh(Original post by blackjenny85)
okay, thats good. what are you hoping for?
i cant say, its the first time i have done it. what did you get for your A591? Ah well..
What about you?
Lol must have been tiring(Original post by Lizzieflorence)
I'm doing all three exams in one year but we did last year's paper as a mock and I think I preferred the 2011 paper (mainly because there were less 6 and 8 mark questions!). Unfortunately A592 was immediately after A591 so I was a bit fed up of Economics when it got to the second paper heh.
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Re: OCR Econoics Unit Two How the Economy Works GCSE[QUOTE=usycool1;37618229]In A591, I scored an A. I really want to push economics up to an A*, but I don't think I have after today's paper tbh
Ah well..
What about you?
Wow, A that is really good. Well done
Well, I am hoping for at least an A, but I would be very happy with an A*. Just believe, you never know. You might get that A*. With Jesus, in your life anything is possible
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Re: OCR Econoics Unit Two How the Economy Works GCSEHey, I sat the unit 1 and 2 OCR Economics on Friday and it wasnt too bad tbf.
Has anyone got any idea about what type of questions may come up in unit 3? i havent revised much for it yet, and it seems a rather large section. What does everyone think? Do you need to put lots of revision in for it? -
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Re: OCR Econoics Unit Two How the Economy Works GCSEOk, last minutes stuff for tomorrow.
I'm willing to bet all my fortune on the 12 marker being the pros and cons of trade, and a ten marker on the causes of globalisation. 8 marks about ways to reduce deficit in the EU. Possibly another 8 over the justification of protectionism.
6 marks on the causes of deficit, possibly 8 marks on the way it can be reduced.
Possibly something that links poverty to globalisation - ie why might a country not benefit as much from it.
Also would be that:
EU/China and India/Euro would not come up at all. -
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Re: OCR Econoics Unit Two How the Economy Works GCSE(Original post by usycool1)
It was OK. We really are pushed for time in economics, it's a bit unfair tbh Still, I managed to finish with about a minute to spare.
I thought it was harder than previous years tbh. I mean, the first essay question threw me a bit and so did the last one. What did you talk about in those essay questions?
I said that the demand for petrol is inelastic and stuff like that so I thought taxation may not be the best solution. However, I then drew a laffer curve to suggest that there may be a value of tax that is high enough to prevent people from buying petrol and using their cars.
For the last one, I thought the government should decrease spending. I said that regressive taxes lead to black markets so the government would just lose out altogether on collecting taxes. I said that progressive taxes may result in people moving abroad to find work and so, again, the government will lose out on taxes.
I said that reducing government spending is better as the only problem from this would be slightly higher unemployment and less economic growth, but these two problems could be combatted by other policies (like monetary policy).
It sound like you've evaluated it alright. I said that goverment should use a combination of both to reduce extreme negative effects on either side. Then about the tax one, I said it depends on the rate blah blah.
I'm sure you've done alright...
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Re: OCR Econoics Unit Two How the Economy Works GCSEThanks(Original post by EvergreenSelen)
Ok, last minutes stuff for tomorrow.
I'm willing to bet all my fortune on the 12 marker being the pros and cons of trade, and a ten marker on the causes of globalisation. 8 marks about ways to reduce deficit in the EU. Possibly another 8 over the justification of protectionism.
6 marks on the causes of deficit, possibly 8 marks on the way it can be reduced.
Possibly something that links poverty to globalisation - ie why might a country not benefit as much from it.
Also would be that:
EU/China and India/Euro would not come up at all. But do you mean the Current Account deficit in the UK rather that the EU?
You may like to see this thread
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Re: OCR Econoics Unit Two How the Economy Works GCSEOMG EvergreenSelen you are genuinely a God! Just sat the Econ 3 exam, with no previous revision, just what i did today, and after taking your advice on what would come up im 90% sure i will get an a*! you are actually a life saver, thanks buddy
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Re: OCR Econoics Unit Two How the Economy Works GCSE(Original post by JSterney)
OMG EvergreenSelen you are genuinely a God! Just sat the Econ 3 exam, with no previous revision, just what i did today, and after taking your advice on what would come up im 90% sure i will get an a*! you are actually a life saver, thanks buddy
Well I'm glad you found it useful Seriously in this subject everyone's gonna need all the help they can get.
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Re: OCR Econoics Unit Two How the Economy Works GCSELol thanks for those amazing predictions(Original post by EvergreenSelen)
Well I'm glad you found it useful Seriously in this subject everyone's gonna need all the help they can get.
You're right, everyone need all the help they can get in this subject 
Still, I managed to finish with about a minute to spare.
