OCR A Level Economics Themes in economics H460/03 - 13 Jun 2022 [Exam Chat]

what with Exchange rate

what was the relationship between economic and accounting profit

what diagram did u guys use for the labour marker, i couldnt think of one

No idea got that wrong probs. Do you remember the MC one and the one with XED, YED, Elasticity of supply as options ?

what diagram did u guys use for the labour marker, i couldnt think of one

what was the relationship between economic and accounting profit

what did u get for the index calculation

what q was that

what letter did u get for the exchange rates one then

Think I got C expansionary monetary policy

what did u get for the index calculation

For the last q I literally talked about how governments would regulate monopolies making them produce more, charging a lower price and higher output, which would result in a reduction in income inequality because the price of monopoly goods would be cheaper. I then linked the income distribution to GPI. And that if economic growth was one of their objectives they wouldn't do this because natural monopolies contribute a lot to economic growth. I then mentioned how the government subsidy used on the natural monopoly would maybe not be the best use of gov expenditure and that their reduced revenue may be better spent on education and healthcare to improve standard of living and development.

I know it's not the best point but will it get me some marks?

How did you man find micro. And econ overall. Thought it was kinda hard this year ngl

imo i found paper 1 one the hardest but I feel like it was my very first exam so I had hell of a lot of nerves. But the Macro went amazingly and this 3rd paper was not as good but i still though i did very well in it