WJEC Economics EC1 and EC2

I just want to share my answers, just to see if anyone agrees. 1)the definition and then that Chesire bank has a higher interest rate 2)demand up hence price up possibly due to wealth or income effect and linked it to diagram 3) negative=inferior positive=normal said which was was luxury and which one was normal 4) that the price rises to to mgp, and though demand falls at this higher price, the government buy off the rest. And for part b I put that the rice rotted and there was an opportunity cost 5) tax was cause price up hence demand down and that tax revenue would help solve the problem and prevent future aggravation. However, sugar is addictive, vat is regressive and there are other types of junk food. 6)I think this was the LRAS and AD diagram (here is where my failure begins): I drew a messy diagram with 3 ad lines(2013,2015,2017) and the LRAS shifting up. I wrote: at 2013 there is inflation, but due to gbp up by 2015 it rises, then by 2017 it rises a further .5%. However, the price of oil increasing would have increased inflation in 2013 higher than predicted, but in 2017 the inflation will surpass this. 7) productivity low means high prices hence less competitive exports and the U.S. and EU imported will be cheaper to our customers hence high consumption of imports less exports. However, the total value of the productivity depends on the value of final product and ped of UK demands may be inelastic. Lastly) since there is a resource boom and rates haven't really effected the strength, it may not possibly fall however if the resources slump or investors find stronger currencies elsewhere the strength will fall.
ive done so badly; I prepared lots but this paper really got me! I wrote very little for the essays due to timing. Ughh
ec2 should be better.

I stayed up all night to revise for this paper
and yet only 10% of what I knew came up and there were so many stupid long questions,
Are they even allowed to put that many 6/8 markers in
I swear there's supposed to be some 2 marks

I hate WJEC with a passion
but I hate my school even more for making us do it
I just completely ran out of time and missed the last question

Everyone I talked too (and myself) also found timing extremely difficult!! Dont worry! Lets just hope EC2 is straight forward

How did everyone find ec2? I personally found it ok until section c, I didn't know which essay to do. The titles weren't very good


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