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Edexcel Economics Unit 4 Global Economy Discussion Thread (10.June.2014)

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Reply 720
Avatar for acl19
acl19
Did question 1, for A i Spoke about the olympics and the intial costs were dying down therefore budget deficit decreased, but then i went on to evaluate saying the building of the olympics stadium may be a PFI scheme therefore the government still leases it off a private firm
(Talking about uk by the way)
Correct or no?
Reply 721
Avatar for 80286
80286
For question 3b was the structure yes savings gap, no not savings gap, other factors? Also what did you guys write for 4b and 4c?
Reply 722
Avatar for Chipher
Chipher
Original post by JasmineD
Really? what questions? :/


Wasnt that bad really nice actually. I did an essay on how the uk is affected by world economic growth and also how individuals benefit from that as well .
Original post by Farringtonn
I did 1a and b, what did people talk about?


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B) I talked about fall in AS from disincentive effect and increase in AD from lower income consumption increases and government spending increases

Then I spoke about the effect on inflation and investment, competitiveness and current account, environment and long run cost push inflation from oil price rise etc
Guys, I did 5 evaluation points for the 30 marker, do they only consider top 3?
Reply 725
Avatar for acl19
acl19
Original post by Fullycorporate
B) I talked about fall in AS from disincentive effect and increase in AD from lower income consumption increases and government spending increases

Then I spoke about the effect on inflation and investment, competitiveness and current account, environment and long run cost push inflation from oil price rise etc
surely lower incomes will reduce AD? Less consumption?
Did Q1 and Q5, Q1 was calm and easy. Q5 on the otherhand a fall in motivation and ambiguous questions I've probably lost quite a few marks. Although the 12 and 15 marker were fine the 8 and 10 marker were dodgy.
Original post by acl19
surely lower incomes will reduce AD? Less consumption?


Well I argued that it was progressive, better distribution of wealth and wealthier lower income consumers (so they spend more) and assuming the rich pay the tax then more tax revenue and more government spending
Original post by Dilzo999
Did Q1 and Q5, Q1 was calm and easy. Q5 on the otherhand a fall in motivation and ambiguous questions I've probably lost quite a few marks. Although the 12 and 15 marker were fine the 8 and 10 marker were dodgy.


Thank god.. I completely drew a blank in evaluation for 10..

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Reply 729
Avatar for acl19
acl19
Original post by Fullycorporate
Well I argued that it was progressive, better distribution of wealth and wealthier lower income consumers (so they spend more) and assuming the rich pay the tax then more tax revenue and more government spending


Fair enoug
Original post by Boy_wonder_95
Guys, I did 5 evaluation points for the 30 marker, do they only consider top 3?

That's what I was told
Original post by Dilzo999
Did Q1 and Q5, Q1 was calm and easy. Q5 on the otherhand a fall in motivation and ambiguous questions I've probably lost quite a few marks. Although the 12 and 15 marker were fine the 8 and 10 marker were dodgy.

Hmm, that's what I thought too. How were you for time?
Original post by Dilzo999
Did Q1 and Q5, Q1 was calm and easy. Q5 on the otherhand a fall in motivation and ambiguous questions I've probably lost quite a few marks. Although the 12 and 15 marker were fine the 8 and 10 marker were dodgy.


I'd have to agree with you on Q5. What diagram did you do for B?
Original post by Edward Cullen
I did question 1 and 4(the Russia and oil question)
I found it an easy paper, but found 4(b) was a bit difficult (why relative poverty is decreasing while Inequality increasing? what did you write in that answer?


Incomes in russia doubles so relative poverty decreased a peopel on low I comes got richer but gini coefficient increased because they hold a greater proportion of the wealth so also got richer like the poor but as the hold more wealth more wealth inequality
(edited 9 years ago)
Original post by 80286
For question 3b was the structure yes savings gap, no not savings gap, other factors? Also what did you guys write for 4b and 4c?


I did how savings gap was a constraint to economic growth as a point and then commented on 3 other constraints. Think I did debt, capital flight and poor levels of infrastructure.
Original post by Alexovic
I'd have to agree with you on Q5. What diagram did you do for B?

I just drew an AD/LRAS diagram. I basically just compared the countries and why the predictions could be like that. Did it in about 2 minutes after coming back to it.
Original post by puzzeled
Incomes in russia doubles so relative poverty decreased a peopel on low I comes got richer but gini coefficient increased because they hold a greater proportion of the wealth so also got richer like the poor but as the hold more wealth more wealth inequality


I put deep rooted structural unemployment from industrialisation meant poor farmers remained poor and unable to access the jobs from lack of skill. Then I talked about industrialisation taking place more in cities (more oppurtunity) than rural areas (less opportunity). My evaluation was dodgy though haha
Original post by thatgirlag
Hmm, that's what I thought too. How were you for time?

I was good for time, finished section a just shy of an hour and had another hour for section b. Managed to finish everything go back to section a and add a bit more to the 30 marker :smile:. Did you do Q1? What points did you use?
Any ideas what the grade boundaries might be? Seemed like a harder paper than June '13.
Original post by Dilzo999
I just drew an AD/LRAS diagram. I basically just compared the countries and why the predictions could be like that. Did it in about 2 minutes after coming back to it.


Yeah I did that diagram. Also did a PPF for some reason.

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