Edexcel A Level Economics A Paper 2: 9EC0 02 - 6 June 2022 [Exam Chat]

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For the impact of reducing checks on people who get loans question, was the answer Assymetric Information? I thought it might be crowding out too but not sure

Reply 61

mollyyyjane_x

Original post by lexilenton007

Am i correct in the fact that the 10 marker was the exact same as the 2020 one, about happiness being related to rising incomes

yes but literally what else is there to write about

Reply 62

HoangK

I thought it’s gonna be more about policies, turns out it is globalisation 🙂

Reply 63

User3858395

Original post by mollyyyjane_x

yes but literally what else is there to write about

I really waffled about how those on higher incomes spend more time working and stress which means they can’t derive happiness from incomes.

For eval I said that since happiness increased for the last two income bands, perhaps after £40,000 people are happier as they are less likely to be in the public sector (teachers and doctors) and more likely service sector based on self employed which improves leisure time and happiness.

Waffle I know.

Reply 64

HoangK

I wrote global economy effect as increased output and increase in innovation? Is that correct?

Reply 65

PerpetualAgony

Original post by mollyyyjane_x

was happiness 8 or 10 marker? can't remember I think I also got around 5 or 6 for it :frown:

10, the past paper one was 8

Reply 66

Abzdot

Original post by User3858395

For the impact of reducing checks on people who get loans question, was the answer Assymetric Information? I thought it might be crowding out too but not sure

I also asymmetric information

Reply 67

Woah44

Wrote about easterlin paradox, rising material standards of living, rising economic growth ~> more employment, then the happiness index as a measure of happiness doesn’t just question values of income

Reply 68

User3858395

I did the protectionism one
First point was how it leads to loss of efficiency and specialising in CA
eval was how if can reduce interdependence globally

Then I said how protectionism creates hostility and lack of shared innovation
eval was the role of IMF and CMA in resolving disputes ( probably quite weak)

Reply 69

lilac_26

Isn’t it speculation because it’s like the 2008 recession like subprime loans were given out so asset bubbles rise .

Original post by Abzdot

I also asymmetric information

Reply 70

PerpetualAgony

Original post by mollyyyjane_x

was happiness 8 or 10 marker? can't remember I think I also got around 5 or 6 for it :frown:

10, the past paper one was 8

Reply 71

jxn2234

Original post by lexilenton007

Am i correct in the fact that the 10 marker was the exact same as the 2019 one, about happiness being related to rising incomes

Yes, i was chuffed to see that since i’d looked at the mark scheme for that a few days ago

Reply 72

PerpetualAgony

Original post by HoangK

I wrote global economy effect as increased output and increase in innovation? Is that correct?

Yes, I did mention those two as well on my 25 marker

Reply 73

CuriousO

Anyone else write lots of Micro stuff for some of the earlier section B questions? Like the happiness question

Reply 74

PerpetualAgony

Original post by Woah44

I forgot it was called Easterlin Paradox lmao I only explained it

Reply 75

PerpetualAgony

Original post by CuriousO

Anyone else write lots of Micro stuff for some of the earlier section B questions? Like the happiness question

Some of the stuff I wrote was slightly micro but not a lot for me to think it was an issue.

Reply 76

CuriousO

Original post by CuriousO

Anyone else write lots of Micro stuff for some of the earlier section B questions? Like the happiness question

and what are the consequences if you did? Econplusdal for instance said micro points are ok and gave externality diagrams as an example

Reply 77

HoangK

Any thought of boundary for an A in paper 2?

Reply 78

r312789

Original post by HoangK

Any thought of boundary for an A in paper 2?

It's almost impossible to tell

Reply 79

Abzdot

Original post by lilac_26

Isn’t it speculation because it’s like the 2008 recession like subprime loans were given out so asset bubbles rise .

It’s asymmetric because businesses know how likely they are to pay back their loans. In 2008 they full well knew who they were giving loans to like strippers and whatnot. Minimal checks would heavily imply they don’t actually know much about businesses

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Edexcel A Level Economics A Paper 2: 9EC0 02 - 6 June 2022 [Exam Chat]

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