A2 Economics - F585 June 2013

Original post by lucybrown92

4? that seems to much - it was a 6marker surely explanation has more weighting?

In a 6 marker a graph usually gets 4 marks

Reply 782

Original post by ChoccyWoccy

What did everyone say for advantages to Estonia of joining the Eurozone?

For my first I put increased trade and explained that, but didn't include any mention of AS or AD ( :frown:

) and for my second I couldn't think of anything else so just put lower prices for Estonian consumers due to transparency, which probably won't get any marks

im sure transparancy is right? read about it here i think yesterday! (this was for lativa joing euro currency)

Reply 783

Original post by Silverback94

How did people answer the international trade 10 marker? I spoke about how it's important and then mentioned other factors and mentioned why they may be important, not sure if that was the right way to go about it now though. Also I completely got the diagram wrong, read figure 3.1 instead for some reason, but do you still get marks for labeling the diagrams like in f582?

I talked about how openess to international trafde increased exports which led to rise in AD, then i talked about other factors such as increased FDI to facilitate growth which is probably a load of sh8t

Reply 784

Original post by mrsmeagol

This exam was kinda difficult, for the 6 mark diagram questio i just basically increased AD at full capacity to increase price levelsbut people are saying you decrease the AS shifting left instead (cause there was negative growth in 08) plus i was talking sh8t for the international trade question

aha same!
for int trade all i put was international competitiveness, availability of goods, increased exports = AD increase
that was pretty much it
related it abit to FDI which links into in by investing and increasing competitiveness for I Trade

Reply 785

Original post by lucybrown92

im sure transparancy is right? read about it here i think yesterday! (this was for lativa joing euro currency)

Yeah but I'm not sure if it would count as an advantage for Estonia, I think it's more an advantage for consumers in general.

Reply 786

Original post by ChoccyWoccy

What did everyone say for advantages to Estonia of joining the Eurozone?

For my first I put increased trade and explained that, but didn't include any mention of AS or AD ( :frown:

) and for my second I couldn't think of anything else so just put lower prices for Estonian consumers due to transparency, which probably won't get any marks

i talked about price transparancy aswell, i'm sure its an advantage of joining the eurozone

Reply 787

Original post by ChoccyWoccy

Yeah but I'm not sure if it would count as an advantage for Estonia, I think it's more an advantage for consumers in general.

i said it forces estonian businesses to be more efficcient reducing their costs or increasing quality to increase international price competitiveness of estonia

Reply 788

Original post by lucybrown92

aha same!
for int trade all i put was international competitiveness, availability of goods, increased exports = AD increase
that was pretty much it
related it abit to FDI which links into in by investing and increasing competitiveness for I Trade

exactly what i did lol

Reply 789

Original post by mrsmeagol

i talked about price transparancy aswell, i'm sure its an advantage of joining the eurozone

For the 2 reasons I put
1)price stability (no fluctuations and hedging - so mantain currency)
2) increased trade and international competitiveness

First bit I think is right but not the second bit? thoughts?

Reply 790

HJSpence

Original post by lucybrown92

4? that seems to much - it was a 6marker surely explanation has more weighting?

No. The mark scheme allocates 4 marks for a correct diagram fully label.

Reply 791

Also might have messed up the 20, only realised about halfway through that is said to what extent will high growth rates in the future alone cause sustainable development.

So in my 'yes it will' side I wrote about how it would mean the government would have more funds to spend on sustainable policies, which is actually kind of a 'no growth enough is not alone' because it suggests help is needed from the government.

Hmm.

Reply 792

matday95

Pretty sure the diagram question said what could have been a reason for the price level and GDP level. Think it opens it up for a number of different reasons to be analysed. Could shift LRAS in or both LRAS and AD in to show inflation rise and GDP fall. So imagine both are acceptable diagrams

Reply 793

Original post by mrsmeagol

i said it forces estonian businesses to be more efficcient reducing their costs or increasing quality to increase international price competitiveness of estonia

I kind of messed that up by writing that under my first benefit which was 'increased trade' - wrote loads of random factors for that, not properly analytical - leaving nothing for the second point.

Reply 794

Original post by ChoccyWoccy

Also might have messed up the 20, only realised about halfway through that is said to what extent will high growth rates in the future alone cause sustainable development.

So in my 'yes it will' side I wrote about how it would mean the government would have more funds to spend on sustainable policies, which is actually kind of a 'no growth enough is not alone' because it suggests help is needed from the government.

Hmm.

that would be fine if you had it as evaluative points?

Reply 795

Original post by lucybrown92

that would be fine if you had it as evaluative points?

I had it as an eval point as well but I also had it in my 'yes growth will cause development point' so that's wrong

Reply 796

HJSpence

Hope this is right.

I just shifted LRAS in which showed the rise and the GDP fall which was what happenened in 2008.

Reply 797

HJSpence

Also I put price transparency as a benefit of Estonia joining the Eurozone.

Surely thats acceptable!?

Reply 798