This was absolutely amazing, Our teacher cant even explain this and you did it in one paragraph. The only thing I am still unsure about is my judgment paragraph. Apparently examiners hate when students write "To conclude", Instead its better to repeat the question.

knowing its only 20% Knowledge and understanding and the rest is literally applying it to the case study and just analysing what has been said is scary.

Any tips on how to leave a good smile on the examiners face xD

Does the same apply for the 4, 8 and 12 markers?

(edited 7 years ago)

Reply 25

mahmzo

Thanks so much for taking your time to write this, it has helped me and I am sure a lot of others too. First econ exam is on the 16th then second exam is on the 23rd. I find Micro (Theme 1 (Markets Consumers and firms)) SO much easier then Macro (Theme 2 (Wider Econ Environment)). I hate the policies including Fiscal, Monetary.

I also read online that some people have gone in the exam with quite minimal econ knowledge but have applied it such a way/ structured that they still managed to achieve an A grade. HOW!!! haha

Reply 26

eysahkhan

Original post by AyshaU

I have created one for theme one, on a flashcard
and for theme 2 I only have PED, YED and Aggregate demand
Do you want them?

yes please

Reply 27

1777481

Original post by eysahkhan

yes please

Hope this helps
It's only theme 1

Reply 28

1777481

Original post by mahmzo

I'm the same
Theme one is good and I like it
Theme 2 is :afraid:

cryworthy

Reply 29

eysahkhan

Original post by AyshaU

Hope this helps
It's only theme 1

thanks so much

Reply 30

1777481

Original post by mahmzo

Are you 100% on theme 1? I am like 60% for theme 2. I am revising theme 2 hardcore till wednesday then the rest of the week theme

About 90% theme 1
I just need to go over once more and t'll be fine. Mainly definitions

Theme 2 more 80%, it's just macro part

Reply 31

mahmzo

Original post by AyshaU

About 90% theme 1
I just need to go over once more and t'll be fine. Mainly definitions

Theme 2 more 80%, it's just macro part

Alright cool, i guess after next weeks exam we can discuss answers xD. I Have a C1 exam too next week

Reply 32

1777481

Original post by mahmzo

Alright cool, i guess after next weeks exam we can discuss answers xD. I Have a C1 exam too next week

Good luck then I suppose

Reply 33

mahmzo

Hey do you know/have any model answer for the new spec? I have seen the edexcels student responses but i was wondering if there is any perfect answer that gains full marks, I have been following the structure you told me but the bad thing is i dont know if i am doing it right or not. Or maybe if its ok i send you a picture of my answer and you can tell me how to improve. Thanks

Reply 34

1777481

How did it go everyone?

Reply 35

swoscross

Original post by AyshaU

How did it go everyone?

I feel like it was alright. pretty decent. you? anyone know how the grade boundaries work?

Reply 36

swoscross

it was alright. pretty decent actually. anyone know how the grade boundries run?

Reply 37

MCKP

What did you guys put down for the supply and demand diagram? And the 20 marker?

Reply 38

mahmzo

Original post by MCKP

What did you guys put down for the supply and demand diagram? And the 20 marker?

I put supply shifts to the right. Half my class did the other half put demand increases. It said more homes were being built (increase in demand) however it said the effect on timber not houses. Therefore an increase in the supply of timber.

20 marker I ran out of time, I said a higher product range specific to the needs and wants to the consumer (so they are targeted specifically) then I talked about how premium pricing can be used. I only wrote a page for the 20 marker.

What else did you do for the questions. Remember as many as possible haha

Reply 39

Blackie

Why would an increase in the amount of homes people want to build out of Canadian Timber mean an increase in supply of Canadian Timber? You should have shifted the demand curve to the right, showing a marketing clearing price (equilibrium) at a higher point.

Defined exchange rate on the first one, then the 4 marker about one factor which could change supply of cereal I just said about potential increase of costs of raw materials (oats, wheat, etc), then for the graph moved Demand to the right and labeled the new market clearing price which was higher price, on the 8 marker (this was the stakeholder one?) I wrote about the shareholder conflict with pressure groups because of increased timber demand the shareholders want to make more profit by meeting the demand and having more deforestation, but the pressure grooups like greenpeace want to conserve the forest, also wrote the conflict between the consumers who want to buy at the lowest price possible, but the employees who want good wages and conditions because the company is doing good which will increase price. The 12 marker i said about exchange rates and unemployment effects on canadian firms,good and bad things, because those were the external influences mentioned in Extract A and B and it said to reference to the extracts.

Next bit I was a bit confused about defining social cost, in the text book it says that it is private + external cost but in a previous exam paper I'd seen it in the mark scheme as the cost to society of the transaction, so wrote that instead of what the book says. I said for the 4marker one reason they want to have plain packaging is to lower the demand of the cigarettes because of the external cost they have attached to the health of the country. On the one about discussing if the playground ban was most effective I said that the playground ban was effective in stopping one of the external costs, which was the health of the children and encouraging smoking, but that the biggest external cost was the cost of adults who smokes to the NHS and the playground ban doesnt solve it and a more effective way is to have an indirect tax which equals to what the smoking costs the NHS. I can't remember what the other questions were on the smoking bit.

The 20marker was horrible, didn't do great on that.

(edited 7 years ago)

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