IGCSE EDEXCEL Economics

Me too👍

Just practise technique for answering the 6 markers. If you can answer them reasonably well then your mark is bound to not be low.

The format I've learnt is introduction, argument, other side of argument and evalution- is that what your format is? Also, I'm a little unsure about what you have to write in an evaluation

I've just gone without an introduction so for most of these questions I do a paragraph agreeing with the question, one disagreeing and then an evaluation. For example, 'Oligopolies are always beneficial for the consumer. How far do you agree?
1- I agree with this statement as oligopolies may try to get more consumers to buy their product and not a product from another firm so will lower their prices in price wars to get more consumers to buy their product as a result the consumers will have cheaper products. (or you could talk about non-price competitiveness)
2- I disagree as firms in an oligopolistic market may collude with each other in order to fix prices so the consumers will lose out as the firms who are colluding could raise their prices which is not beneficial for the consumer
3- However it depends on the extent of regulation in the market, as if the market is heavily regulated the firms will not be able to collude as it is illegal so if they try to they will be broken up, therefore they won't be able to fix their prices so consumers would get a cheaper product (or better quality product).

I've just gone without an introduction so for most of these questions I do a paragraph agreeing with the question, one disagreeing and then an evaluation. For example, 'Oligopolies are always beneficial for the consumer. How far do you agree?
1- I agree with this statement as oligopolies may try to get more consumers to buy their product and not a product from another firm so will lower their prices in price wars to get more consumers to buy their product as a result the consumers will have cheaper products. (or you could talk about non-price competitiveness)
2- I disagree as firms in an oligopolistic market may collude with each other in order to fix prices so the consumers will lose out as the firms who are colluding could raise their prices which is not beneficial for the consumer
3- However it depends on the extent of regulation in the market, as if the market is heavily regulated the firms will not be able to collude as it is illegal so if they try to they will be broken up, therefore they won't be able to fix their prices so consumers would get a cheaper product (or better quality product).

It didn't go too great for me! I was ok with the last few but the rest was quite hard for me If i am honest.

What did people put for the graphs of supply as i forgot that aha. what other things did you guys put? I need some reassurance that I did ok

Well I put the lines the facing the wrong direction so I guess my answer was mirrored image of the correct answer lol. (steep line for inelastic, (almost) flat line for elastic.)

what did you guys write for that six marker on how shale gas could benefit the economy?

what did you guys write for that six marker on how shale gas could benefit the economy?

this is what i wrote for the evaluation:the economy would benefit as there would be an increase in resources which increase the total output in the country as production increases.however, this gas pollutes the environment which is a negative externality.overall, the benefits are short term as shale gas is non-renewable i.e it is finite.

I didn't write anything for it, but i do think your answer is right!:-)

ya ,i hope so

Can I ask what you put for the supply and demand factors as well as the graph on elastic and inelastic supply and explanation? Also what did you put for the exp fiscal policy and the bankers being unemployed??

the first question about the downward trend in prices was so confusing and don't even remember what i wrote-it was the hardest question for me
the graphs were like this:
this is elastic supply

this is inelastic supply
elastic supply-a change in price causes a more than proportionate change in supply
inelastic supply-a change in price causes a less than proportionate change in supply

plz remind me the exp fiscal policy and the bank workers question and i will let you know