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Economics AQA Unit 1 resit

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Original post by t/struggleisreal

I've not revised either ive just started now. Its the third time i've sat this paper now and I haven't studied economics in over a year haha fml.

Same I'm not even taking it at a2 and just now realised cause of the a level reforms no unis are actually looking at the grade of the as level you dropped

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Reply 21

deji_ta

Original post by Supermanxxxxxx

Done like no revision for this what do you reckon is the best thing to do now

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Go to bed.

Reply 22

omichael

Original post by gcsegirl13

hi guys, would anyone know why the answer to this is b?

use the formula
c+i+g(x-m)

Reply 23

nayana71

I pray to god the housing market doesnt come up its the only topic i didnt revise

Reply 24

keynes24

Original post by nayana71

I pray to god the housing market doesnt come up its the only topic i didnt revise

For any market you need to be aware of market failures and government intervention. Regardless of the market you should be able to answer any question related to any topic if you are comfortable with those. The extract also provides plenty of information.

Reply 25

zskfazal

Original post by nayana71

I pray to god the housing market doesnt come up its the only topic i didnt revise

I would say have a brief look as it hasn't come up for a couple of years..

Reply 26

nayana71

Original post by keynes24

I can come up with strong analysis points (how gov can intervene etc) thats not a problem for the housing market my only problem is evaluation, i dont know how i would evaluate it.

Reply 27

keynes24

Original post by nayana71

I can come up with strong analysis points (how gov can intervene etc) thats not a problem for the housing market my only problem is evaluation, i dont know how i would evaluate it.

Evaluation is the same approach as with any other
market (government failure vs market failure, criticising government intervention, short run vs long run )

Reply 28

GCSEgirl13

i did context 2 and messed up the third question urghhhhhhh. what did everyone get for the PES? ans what were your main points?

the paper was soooo good but that third question will probably ruin everything for me :frown:

Reply 29

Travy

Original post by GCSEgirl13

Got 1.9 for the PES. But I think I messed up I struggled to think of factors that affected the PES. In the question I defined supply and demand and done the calculation and that, but my explanations were so weak, I didn't even know what to say

Reply 30

rainbowcolours1

Original post by GCSEgirl13

I got +1.9

I talked about spare capacity.
Long run and short run in terms of fixed and variable factors of production such as land.

What did you put?

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Reply 31

ie123

What were some of your points in context 2 25 mark essay

Reply 32

Travy

Original post by ie123

What were some of your points in context 2 25 mark essay

For Subsidy - Merit Good - e.g under produced and consumed
- Subsidy Diagram
Pos Externality diagram

Against - oportunity Cost
Subsidy could be spent elsewhere

My against point and conclusion were so weak I ran out of time and they were so short. Did not even do diagram for against point :frown:

Reply 33

nayana71

Oh no i think i put +0.5 for the elastcity.... I didnt finish my 25 mark essay and i messed up the third question

Reply 34

nayana71

You know for the MPC question where it had the PPF for country X and Y was the answer greater for country X than or Y?

Reply 35

Cheesybread

Original post by nayana71

You know for the MPC question where it had the PPF for country X and Y was the answer greater for country X than or Y?

Is greater for country Y than for Country X

Reply 36

ie123

Original post by Travy

Same, I ran out of time on my last point and conclusion, still managed tot mention potential gov failure and inefficiencies within the conclusion

Reply 37

ie123

Original post by nadskjlfh

Is greater for country Y than for Country X

That's also what I stated

Reply 38

Caius Filimon

Original post by nayana71

Oh no i think i put +0.5 for the elastcity.... I didnt finish my 25 mark essay and i messed up the third question

Yep it had to be +0.5. Was it the cross elasticity question? I remember something about thinking it was a substitute so it had to be positive

Reply 39

Caius Filimon

I'll copy paste this comment of mine from another topic in the hopes that someone else's done Context 1 and remembers Q02:

I have a very important question regarding Context 1 (it will make or break my grade, pretty much). Question 02:

What did you contrast? We had the electricity mix of the UK in the year of 2013 and 2014.

I said that coal aws 36.6% in 2013 as compared to 23% or however much in 2014, a more than 50% decrease in the % makeup of coal's making up of the electricity mix, as coal has been overtaken by Gas as the largest source of elec production, with 35% or so in 2014 from 20% in 2013, an almost 50% increase again.

And then to make sure I compared how renewable sources made up 13.5% in 2013 as compared to Nuclear energy in 2014 as 20% and then how renewable sources made up 17.5% in 2014 as compared to Nuclear energy's 23.5% in 2013.

I wanted to make sure that if I messed up which ones I was supposed to contrast, I would still get enough points for at least a few of my statements...

Any help would be hugely appreciated!

Hope you all managed well on the exam!