Join TSR now and get all your revision questions answeredSign up now

Edexcel Economics: Unit 3 Business Economics and Economic Efficiency (June 2014) EC03 Watch

    Offline

    2
    ReputationRep:
    (Original post by Mike_123)
    No one's going to teach you. Research it yourself, there's plenty of resources online.
    Then whats the need of this damn thread is we can't discuss and teach each other what we know??... don't be insane
    Offline

    1
    Hello, does anyone have the exam structure or marks allocation for Section B?
    Offline

    0
    ReputationRep:
    (Original post by areddishherring)
    Hello, does anyone have the exam structure or marks allocation for Section B?
    There's guaranteed to be 4 questions. 4,8,12,16 marks each. The last three have 50% evaluation. If you want a more detailed breakdown look at past paper mark schemes.
    Offline

    0
    ReputationRep:
    Despite this unit being the smallest, I definitely feel that this unit has to be the hardest out of alllllll them :/


    Posted from TSR Mobile
    Offline

    1
    (Original post by AdzyN)
    Despite this unit being the smallest, I definitely feel that this unit has to be the hardest out of alllllll them :/


    Posted from TSR Mobile
    Too much evaluation required! I find Unit 4 more difficult :/
    Offline

    2
    ReputationRep:
    i don't find any of unit is difficult...you gotta read more and practice more. expecting for same grade in edexcel.... how was you guys mock exam results?
    Offline

    0
    ReputationRep:
    How do you guys choose which data response question to answer? I sometimes pick the harder question because I rush and am worried about timing. Does anyone have tips for me?
    Offline

    0
    ReputationRep:
    (Original post by aminkaram)
    How do you guys choose which data response question to answer? I sometimes pick the harder question because I rush and am worried about timing. Does anyone have tips for me?
    Before attempting the data responses I look at both questions and tick off all the questions which I have general knowledge. Wherever I have the most knowledge is the question I'll choose (regardless on whether I dislike what the extract is on) as knowledge is more important than what's in the text (at least imo)


    Posted from TSR Mobile
    Offline

    0
    ReputationRep:
    (Original post by aminkaram)
    There's guaranteed to be 4 questions. 4,8,12,16 marks each. The last three have 50% evaluation. If you want a more detailed breakdown look at past paper mark schemes.
    Additionally you should always try and write points that are worth 3 marks but go for the 2+2+... approach, that way you can minimise the amount of marks lost.


    Posted from TSR Mobile
    Offline

    3
    ReputationRep:
    Predictions for the questions??
    Offline

    0
    ReputationRep:
    Don't bother trying to predict questions, just focus on revision as this unit can be sooo easy if you learn the material.
    Offline

    0
    ReputationRep:
    (Original post by pineapple78)
    hi does anyone know like the basic evaluation points for unit 3?

    thank you
    Time lag is applies to almost everything

    Consumer welfare: e.g. monopolies have little incentive to be as efficient as possible since there is no competition, as a result consumers may receive low quality goods/services

    Posted from TSR Mobile
    Offline

    3
    ReputationRep:
    (Original post by shabba-ranks)
    Don't bother trying to predict questions, just focus on revision as this unit can be sooo easy if you learn the material.
    Yeah i'll revise everything, but just be aware of what hasn't come up or is likely to, to be that extra bit ready
    Offline

    1
    How's preparation guys?
    Offline

    2
    ReputationRep:
    I have completed all the past paper questions and taken may own notes...hope that's ebough...
    Offline

    0
    ReputationRep:
    Guys how to develop the evaluation for the contestabilty of a market??? can anyone give 4 points each worth 3 marks??? coz im not sure about my teachers marking!!!!
    Offline

    0
    ReputationRep:
    (Original post by rathani278)
    Guys how to develop the evaluation for the contestabilty of a market??? can anyone give 4 points each worth 3 marks??? coz im not sure about my teachers marking!!!!
    Can you be moree precise please? what's the exact question?
    Offline

    0
    ReputationRep:
    (Original post by aminkaram)
    Can you be moree precise please? what's the exact question?
    how could you argue saying that a market is contestable despite the barriers involved!!!
    Offline

    2
    ReputationRep:
    (Original post by Swaany)
    The official thread for the Edexcel economics unit 3 exam in June 2014. Need help or wanna share revision tips/ notes? Please post below!

    Spoiler:
    Show
    The title was meant to say 6EC03 not EC03, now I can't change it
    Where do you get your notes from? Tutor2u doesnt have much on regulation tbh and that the only source I really use for notes, thanks.
    Offline

    0
    ReputationRep:
    (Original post by rathani278)
    how could you argue saying that a market is contestable despite the barriers involved!!!
    So you mean KAA is reasons why it isn't contestable and Evaluation is reasons why they are contestable?

    In that reason I would say that firstly in the past this has only come up in 12 markers not 16 markers. The three evaluation points I used if I remember correctly were:
    1. The market defined is usually very broad, so some sub markets may be contestable some may be less contestable
    2. There may be room for a new firm to enter and steal market share by offering a specialist product. e.g easyjet and ryan air. Kind of like a niche market.
    3. This one I'm less sure about but I guess you could argue that barriers to entry which may seem high are not in fact that high (can someone just confirm that this is in fact possible please)


    In fact I stand corrected I only recall an 8 marker
 
 
 
Poll
If you won £30,000, which of these would you spend it on?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Quick reply
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.