Edexcel Economics Unit 6 - ULTIMATE REVISION THREAD Watch

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hyung min lim
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#181
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#181
i have a another question... most of question of part a...
the mark scheme never mention about 2 side???..
for example... the reason why the multinational prefer to invest in EU as using single currency... obviously, they ask about the advantage about single curreny...but they didnt mention about the disadvatages... i mean strogly...

isnt unnessary to mention about 2 side?? like 2 point each.. and this will make easy to evaluation..... i guess.... what do you think? people?
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chidona
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#182
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#182
The disadvantages would count as evaluation.
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hyung min lim
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#183
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#183
do you think how much time are you going to spend on part a and part b?

i guess 50 for part a and another 50 for part b... in my opinoin... anyway, the both question mark will be worth 50. so i think should spend on 50 : 50 each question...

hm.. any idea?
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Curious888
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#184
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#184
Hour and forty-five minute paper, I would do hour essaying and an 45 mins on data responsing.

25 minutes of 40 marker
35 on 60 marker

Remember the essays go:

3 analysis 2 evaluation and 4 analysis and 3 evaluation for the 40 and 60 mark essays respectively in order to access "5*" level.
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bballer4life
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#185
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#185
(Original post by Curious888)
Hour and forty-five minute paper, I would do hour essaying and an 45 mins on data responsing.

25 minutes of 40 marker
35 on 60 marker

Remember the essays go:

3 analysis 2 evaluation and 4 analysis and 3 evaluation for the 40 and 60 mark essays respectively in order to access "5*" level.

spendind an hour on the first part doesn't leave u enough time for the second bit. both sections are equally weighted, so equal time should be spent, and since you have alot to read for the second bit, you should spend more time on that section
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Curious888
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#186
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#186
I write slowly and read fast, generally speaking anyway - i suppose its quite a person by person decision how to allocate time... I always find data response more managable, and hence, am happier to spend less time on it.
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hmjessop
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#187
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#187
I'm going to allocate 45 mins for each section then I have a spare 15 mins reading time or extra writing time if needed.
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hyung min lim
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#188
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#188
(Original post by bballer4life)
anyone fancy putting up some revision notes on a public sector net cash requirement?
How is the PSNCR measured..
-The nominal PSNCR is the simple addition of the financial accounts of the above three sectors.

-The seasonally adjusted PSNCR takes account of our place in the economic cycle- the deficit and PSNCR increased naturally in a recession because the government is paying out more to the unemployed and at the same time, tax revenue is lower owing to the lessend economic activity

-The PSNCR as a percentage of GDP is a useful measure:
1. it helps us to judge how 'large' it is in context: and also to compare our situation with that in other countries we keep our eye on the other EU countries in particular
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hyung min lim
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#189
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#189
(Original post by bballer4life)
anyone fancy putting up some revision notes on a public sector net cash requirement?
The adavatages of goverment borrowing
1. By borrowing and building things like roads and proving better education or health for the people it can speed uo futuer economic growht
2. The higher expenditure(G) might prevent a fall in national income
3. Borrowing prevents the govenment from having to raise taxes now.

The disadvantages of goverment borring
1.when the government borrows it tends to increase the rate of inflation rate and croud-out private investment.
2. The sum borrowed has to repaid. it's hard to raise the tax...
3. when the government repays its earlier borrowings, whatever sum it repays cannot then ne spent on what is deemed important at that time.
4. To some extnet, the dis/advantage on wht the government decides to spend the borrowed money and how effectively....

Hm... i quite rush to write but... that is only i can say....
hope i give u some help... take it easy..
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The Dark Side
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#190
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#190
+ Crowding out.
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bballer4life
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#191
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#191
(Original post by hyung min lim)
The adavatages of goverment borrowing
1. By borrowing and building things like roads and proving better education or health for the people it can speed uo futuer economic growht
2. The higher expenditure(G) might prevent a fall in national income
3. Borrowing prevents the govenment from having to raise taxes now.

The disadvantages of goverment borring
1.when the government borrows it tends to increase the rate of inflation rate and croud-out private investment.
2. The sum borrowed has to repaid. it's hard to raise the tax...
3. when the government repays its earlier borrowings, whatever sum it repays cannot then ne spent on what is deemed important at that time.
4. To some extnet, the dis/advantage on wht the government decides to spend the borrowed money and how effectively....

Hm... i quite rush to write but... that is only i can say....
hope i give u some help... take it easy..

cheers for the help. these points are useful. i'll reward you with some positive rep
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username141550
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#192
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#192
I've sent out yet another batch of notes, a few people still asked for them without emails.

Anyone that PMed me but still hasn't had them, quickly PM me.

----

Sorry for these repetitive posts.
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Yasmin2K8
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#193
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#193
Can someone briefly explain what and how crowding out works?

Thanks
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The Dark Side
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#194
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#194
(Original post by Yasmin2K8)
Can someone briefly explain what and how crowding out works?

Thanks
Check my previous posts on this thread.
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newlife
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#195
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#195
(Original post by ayandutta)
NEWLIFE u contradicted urself
"Your point about the pound depreciating post a fall in competitiveness would be second round effects, and hence worth less credit."

then

"the best 4 impacts to describe, post a fall in cometitiveness IMO are:

-Depreciation of the pound."

Sorry i meant to say that your point about how the depreciation affects the economy is second round... The fall in competitiveness leading to depreciation is a direct effect, whereas any points that speculate what happens after a depreciation would be second round effects and thus less worthy of credit
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newlife
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#196
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#196
(Original post by Yasmin2K8)
Can someone briefly explain what and how crowding out works?

Thanks
my teacher explained some today. The government, when needing to borrow may issue bonds at attractive rates of interest. Consumers may choose to invest in these bonds rather than in the private sector, thus causing the private sector to 'crowd out'.

Evaluation - Investment from the private sector may not fall following a crowding out effect in this case, since the Government has increased spending, and so firms should anticipate increases in Demand. Thus Firms will increase investment accordingly
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Yasmin2K8
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#197
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#197
(Original post by newlife)
my teacher explained some today. The government, when needing to borrow may issue bonds at attractive rates of interest. Consumers may choose to invest in these bonds rather than in the private sector, thus causing the private sector to 'crowd out'.

Evaluation - Investment from the private sector may not fall following a crowding out effect in this case, since the Government has increased spending, and so firms should anticipate increases in Demand. Thus Firms will increase investment accordingly
Thanks =)
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jamie_jme_brown
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#198
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#198
is anyone els every nervous about tmoz or just me, i have dne enough revision im just worried its going to be like unit 5
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hmjessop
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#199
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#199
I'm so nervous! It's just wondering which topics will come up, especially for the essay. I would like a question on the causes and effects of something macro. I'm also worried about the data response, which not many people on here seem to be. So many marks to do in 50 mins, way more than we've had to do in any other data response unit.
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bballer4life
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#200
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#200
(Original post by hmjessop)
I'm so nervous! It's just wondering which topics will come up, especially for the essay. I would like a question on the causes and effects of something macro. I'm also worried about the data response, which not many people on here seem to be. So many marks to do in 50 mins, way more than we've had to do in any other data response unit.

yea, there's too many questions to do.
My teacher said that about 50% of candidates don't get to finish the paper
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