WJEC Economics Paper 1 discussion Watch

tednx
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#1
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I’ve just finished paper 1, how’s everyone feeling about it? What questions did you struggle on etc
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Long69money
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So hard man
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Nearfar
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What did people get for the exchange rate question about the cars?
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Long69money
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I couldn’t remember exactly but . I got 13.35 for QD change . So 340050 cars x new price ( i dont remember buts it new price - the 26.7 change )
(Original post by Nearfar)
What did people get for the exchange rate question about the cars?
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Nearfar
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Ohh, I took my calculations to 3 decimal places so I ended up getting 13.335 eventually instead, and so 340005 cars, idk if I'm gonna be penalised for that or if they have a range or acceptable answers..
(Original post by Long69money)
I couldn’t remember exactly but . I got 13.35 for QD change . So 340050 cars x new price ( i dont remember buts it new price - the 26.7 change )
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Long69money
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Yo but there are so many questions like “ which one is safe to conclude from the data “ right ? Its really confusing....
(Original post by Nearfar)
Ohh, I took my calculations to 3 decimal places so I ended up getting 13.335 eventually instead, and so 340005 cars, idk if I'm gonna be penalised for that or if they have a range or acceptable answers..
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tednx
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(Original post by Nearfar)
Ohh, I took my calculations to 3 decimal places so I ended up getting 13.335 eventually instead, and so 340005 cars, idk if I'm gonna be penalised for that or if they have a range or acceptable answers..
for this question i did the same and got 340k cars and multiplied it by the £15000 average eu price it said
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Long69money
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But pound depreciated, so shouldnt you time it with less than 15000£ for a car ?
(Original post by tednx)
for this question i did the same and got 340k cars and multiplied it by the £15000 average eu price it said
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tednx
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i did think that but it said it was the EU average or something like that so i went with it idk

(Original post by Long69money)
But pound depreciated, so shouldnt you time it with less than 15000£ for a car ?
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Long69money
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Why does it seem like not many people do Wjec economics ?
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tednx
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i feel like its not a very popular board, most revision resources i've seen are for aqa or edexcel etc.
Were there any other qs you found difficult?
(Original post by Long69money)
Why does it seem like not many people do Wjec economics ?
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Long69money
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The tariff one which asks about consumer and producer surplus. I wasnt sure how to calculate those ? But i know the change in demand output was 30 so i had to guess between A and B
(Original post by tednx)
i feel like its not a very popular board, most revision resources i've seen are for aqa or edexcel etc.
Were there any other qs you found difficult?
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Long69money
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Also, the inflation index number question where they are 5 different items.
(Original post by Long69money)
The tariff one which asks about consumer and producer surplus. I wasnt sure how to calculate those ? But i know the change in demand output was 30 so i had to guess between A and B
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tednx
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oh yeah, with the weights? i didnt really get that one either, i just kind of guessed and put 104, you?

For the tariff one i put D because i worked out the import change as 65 so it was D or E but couldnt get the other numbers so i went with D
(Original post by Long69money)
Also, the inflation index number question where they are 5 different items.
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Throwaway945
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Yeah i thought it was 65 so I put E because 3000 seemed too high for D
(Original post by tednx)
oh yeah, with the weights? i didnt really get that one either, i just kind of guessed and put 104, you?

For the tariff one i put D because i worked out the import change as 65 so it was D or E but couldnt get the other numbers so i went with D
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tednx
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not really sure why i picked D over E ffs
(Original post by Throwaway945)
Yeah i thought it was 65 so I put E because 3000 seemed too high for D
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tednx
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other qs i remember:
1. Demand for diamonds- i said increase in demand from china and increased investment in south african mines
2. Output point with Profit max in perfect comp- i put point Y
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Long69money
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Yeh i got the same answers
(Original post by tednx)
other qs i remember:
1. Demand for diamonds- i said increase in demand from china and increased investment in south african mines
2. Output point with Profit max in perfect comp- i put point Y
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Throwaway945
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#19
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Point Y was right i think

Why would demand increase? An increase in demand would mean theres a rise in price. It should be a fall in demand an increase in supply
(Original post by tednx)
other qs i remember:
1. Demand for diamonds- i said increase in demand from china and increased investment in south african mines
2. Output point with Profit max in perfect comp- i put point Y
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Long69money
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Lol . I also put 104 cuz it seemed reasonable. But anw when is there going to a unofficial marking scheme do u know ? I can see other boards they already had it
(Original post by tednx)
oh yeah, with the weights? i didnt really get that one either, i just kind of guessed and put 104, you?

For the tariff one i put D because i worked out the import change as 65 so it was D or E but couldnt get the other numbers so i went with D
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