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F581/ F582 Economics June 2013 watch

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  • View Poll Results: How hard did we find this exam ?
    so hard i felt like crying through the exam
    13
    12.50%
    very difficult , but one or two were alright
    13
    12.50%
    fairly standard
    33
    31.73%
    quite easy , with one or two hard ones
    35
    33.65%
    so easy i felt like dancing throughout the exam
    10
    9.62%

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    (Original post by lisa96)
    For this question, on the mark scheme it said that a typical 3 mark answer would be something like:

    Incomes are rising (1), which means that couples can afford to a deposit on a house (1) leading to more people buying a house (1)

    Rise in income. (1) As houses are a normal good (1) increasing income leads to higher demand for houses (1) (standard explanation of normal good)

    Higher divorce rates (1) mean that the n umber of households is increasing (1) and so people need to buy an additional house (1)

    Taste and fashion (1) it has become popular to own a second home (1) so demand rises. This answer would only get 2 marks, instead of the full 3.
    Ah I did exactly that for Taste and fashion haha :P
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    (Original post by lisa96)
    On this exam, the questions want us to look at some figures and then describe whats happening, which makes me feel like its a trick question.

    Also with the comment questions i have no idea what to write, because its different from the typical answers we'd write for f581
    Yeah I find the figures question usually fine since all you need to really do is say this was higher than this, this exports more here this imports here, this had higher real gdp than this (compare and contrast)

    But the comment questions really throw me off, the essay's look fine in my opinion, but some of the answers in the markscheme for the comment questions baffle me, like some of this stuff I'm not even taught lol
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    F582 Jan 2013 18 Marker: To what extent does a decrease in aggregate supply harm an economy?
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    I'm doing F581 & F582 in June.

    I'm finding F581 to be a cakewalk compared to F582.
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    (Original post by Robbie242)
    Yeah I find the figures question usually fine since all you need to really do is say this was higher than this, this exports more here this imports here, this had higher real gdp than this (compare and contrast)

    But the comment questions really throw me off, the essay's look fine in my opinion, but some of the answers in the markscheme for the comment questions baffle me, like some of this stuff I'm not even taught lol
    Comment questions can be really re-written as " what does this depend on " - so if a question asks you to comment on the economic effects of low unemployment " - then you'd mention what the effects would be of low unemployment - increased output , increased AD etc etc , but then you'd mention what does that depend on - so if you mentioned it would lead to increased AD , for the comment you could say that people may actually save money if interest rates were quite high hence this wouldn't happen.

    Hope that's a decent explanation
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    (Original post by lisa96)
    This is what im stuck with as well. I was looking at previous years examiners reports and they wrote:

    Required for this answer are three parts: a reason (determinant); an elaboration of the reason; and a statement of how there has been a change in demand.

    e.g.

    The most obvious reasons were that (disposable) incomes had fallen due to recession. This meant that the demand for exotic holidays, a normal good, would be likely to fall leading to a fall in demand for holidays to the Maldives. Such answers gained three marks for this linked explanation.
    Another popular reason given was in relation to fashion and taste. As a result of media coverage, some tourists would be reluctant to go to the Maldives. A third possibility was to consider the price or availability of substitutes such as Goa or the increase in price of complements such as air travel.

    The most common error was for answers not to go as far as explicitly concluding that the elaborated determinant would actually lead to a fall in demand for holidays to the Maldives.
    ah thank you ! so you can make a general point that for these 6 mark questions when it asks for 2 reasons :

    (1) for stating correct detrimant
    (1) for explaining the detrimant
    (1) for stating how the detrimant will affect demand/supply in case study

    that a general thing you can follow ?
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    (Original post by Fas)
    Comment questions can be really re-written as " what does this depend on " - so if a question asks you to comment on the economic effects of low unemployment " - then you'd mention what the effects would be of low unemployment - increased output , increased AD etc etc , but then you'd mention what does that depend on - so if you mentioned it would lead to increased AD , for the comment you could say that people may actually save money if interest rates were quite high hence this wouldn't happen.

    Hope that's a decent explanation
    Yeah I've noticed a common theme whereby all comment questions you can gain 2-4marks from commenting about size or the extent of time taken, affecting the effectiveness of an economic action, glad I have that to fall back on. At the moment making the finishing touches to my notes by integrating markscheme responses like on my corporation tax notes whether a cut in corporation tax will increase investment, one of the questions, so if I revise this then I'll have a fairly good idea
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    (Original post by lisa96)
    Me too. The only thing i like about F582 is the 18 markers, i enjoy writing about them more than F581, but everything else on f582 i hate so much
    There's way more analysis and longer questions on f585 so I think you'll enjoy that.




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    (Original post by Namige)
    There's way more analysis and longer questions on f585 so I think you'll enjoy that.




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    haha is that the Global Economy paper ?
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    (Original post by Fas)
    haha is that the Global Economy paper ?
    ya
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    Hi, everyone! I am new here.. I'm having F581 and F582 this summer as well..
    Just wondering if anyone ever use the website markedbyteacher? is it safe to register?
    thanks in advance!
    good luck on your exam!
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    Just thought some of you might like to hear where I gained my marks in the remark, incase its similar to your paper.

    It says:

    5a) +1 if marked as loss of country side affecting rural residents
    1. Scarcity and choice identified (2) and application on choice only (1) so total +1 to 3
    4b) +2 Comment marks due according to markscheme - e.g. they didn't actually give me marks for ''A few things to appreciate is that these are all estimates, they are not entirely accurate due to changes in demand and supply e.g. ceteris paribus

    This is for F581 btw if anyone was curious
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    (Original post by Robbie242)
    Just thought some of you might like to hear where I gained my marks in the remark, incase its similar to your paper.

    It says:

    5a) +1 if marked as loss of country side affecting rural residents
    1. Scarcity and choice identified (2) and application on choice only (1) so total +1 to 3
    4b) +2 Comment marks due according to markscheme - e.g. they didn't actually give me marks for ''A few things to appreciate is that these are all estimates, they are not entirely accurate due to changes in demand and supply e.g. ceteris paribus

    This is for F581 btw if anyone was curious
    Did you get your A or ...

    And are you still retaking it?
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    (Original post by iggyDash)
    Did you get your A or ...

    And are you still retaking it?
    Yup I got the A! and nope I'm not retaking it
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    Well Done.

    How much revision do you do after school?
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    (Original post by iggyDash)
    Well Done.

    How much revision do you do after school?
    Thanks .Not much on school days, did tons over easter though. Atm done 2hours, gonna do some econ and go to bed, compared to easter when I could do literally all my subjects, ahh school sucks. But yeah usually about 2-3hours, need my A's in Maths, FM and econ, but history takes up the most time
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    Same, I do about 4 hours on school nights , 4-8 with breaks, the relax for an hour or two the go to sleep.


    Yeah i Get more done at home than in school!

    And sometimes i may wake up 5am and do an hour of revision then, only after a good night sleep though, 10am latest

    Hopefully it pays of at the end though !
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    (Original post by iggyDash)
    Same, I do about 4 hours on school nights , 4-8 with breaks, the relax for an hour or two the go to sleep.


    Yeah i Get more done at home than in school!

    And sometimes i may wake up 5am and do an hour of revision then, only after a good night sleep though, 10am latest

    Hopefully it pays of at the end though !
    Yeah same! really worrying though, got my econ f582 mock next week and its the Jan 13 paper, I know the essay question but everything else is unknown, oh well just gotta keep my fingers crossed that I do well (Mocks are usually a good indicator of progress, e.g. I got 46/60 in my first econ1 mock which was a low A and in the exam I got a low A)
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    im 1 mark of a B on f582 so im retaking it.
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    (Original post by iggyDash)
    im 1 mark of a B on f582 so im retaking it.
    Ah cool! what do you hope to get this time round? F582 seems so much harder than F581 to me
 
 
 
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