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A2 OCR Economics F585 June 2016 watch

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    (Original post by Todd199)
    For economic zones issue, can a possible solution be to set more economic zones in other parts of the country?
    it is a judgement, if you can justify it then yes
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    (Original post by Todd199)
    For economic zones issue, can a possible solution be to set more economic zones in other parts of the country?
    Yeh for sure - i guess you could argue that,although they will bring FDI to certain areas, others will be left without investment. Potentially increasing disparity of living standards within Zambia and increasing income inequality between those living in urban areas and those in rural areas who are subsistence farmers etc. So putting them elsewhere means that other regions are benefitted too - but have to remember that certainly there has to be transport infrastructure implemented to these regions in order for them to be successful, if they are just in the middle of no where with no connection routes you can be sure that no one will invest!
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    (Original post by politicalmind)
    Does anyone reckon a comparative advantage question will make an appearance?
    Just revise it, don't speculate. Even if it is not mention in the question it is good to know it as part of your chain of reasoning.
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    (Original post by keynes24)
    Just revise it, don't speculate. Even if it is not mention in the question it is good to know it as part of your chain of reasoning.
    Yeh true - so main points would be that it allows for specialisation and increase in world trade and output basically?
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    (Original post by Lavender26)
    Thanks!
    I understand how comparitive advantage works, but I don't understand why being able to have a lower opportunity cost actually leads to higher AD or AS?
    you should check the links posted before, it is explain in there
    http://www.economicshelp.org/trade/c...ive_advantage/
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    (Original post by ingeniousrn)
    Would it make sense to write about resource nationalisation as a supply side reform for the 20 marker?
    Not really seeing as resource nationalisation is a constraint to supply side reforms, it would make more sense to write it in the other half of your argument as a point as to how it constrains supply side reforms from promoting long run economic growth
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    What do we think extract 1 questions are most likely to be? I think I've prepared for the extract enough but I don't feel confident with it!


    Here are the pointers of answers I've prepared for in this extract, in addition to revision of every concept quoted, are they okay?

    State and explain two other indicators of globalisation.. (4)

    1) Rise in global brands...
    2) Increased global sourcing...

    Analyse two costs of globalisation (6)

    1) Increased interdependence and reliance between economies resulting in global recessions...
    2) Steuctural unemployment due to increased global sourcing...
    3) Increased possibility of diseconomies of scale for MNCs due to problems of international miscoordination...

    Distinguish between absolute and comparative advantage (4)

    1) Definitions of both
    2) Explain how absolute advantage may provide no theoretical basis for trade if not reciprocal with example...
    3) Explain how comparative advantage always provides a basis for trade with example...

    Definitions of Globalisation, Advantages, FDI, Import Tariffs and Protectionism

    State and explain two causes of globalisation (4)

    1) Reuction in protectionism in the world economy... (But cited in extract already)
    2) Fall in real transport costs increasing viability of global sourcing and reduced cost of international trade...
    3) Development in IT and falling communication costs increasing efficiency of global supply chains and sourcing and economic agent's awareness of global products...

    Explain / analyse with a diagram how a reduction in import tariffs can lead to an expansion in world trade and globalisation (4/6)

    Explains what a reduction in import tarriffs would cause, diagram, diagrammatic analysis... How to leads to greater independence and interdependence between the world's economies

    Any others we can think of?
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    (Original post by Ecconomist)
    What do we think extract 1 questions are most likely to be? I think I've prepared for the extract enough but I don't feel confident with it!


    Here is what I've prepared for in addition to revision of every concept quoted:

    State and explain two other indicators of globalisation.. (4)
    Analyse two costs of globalisation (6)
    Distinguish between absolute and comparative advantage (4)
    Definitions of Globalisation, Advantages, FDI, Import Tariffs, Protectionism,
    State and explain two causes of globalisation (4)
    Explain / analyse with a diagram how a reduction in import tariffs can lead to an expansion in world trade and globalisation (4/6)

    Any others we can think of?
    Extract 1:4 mark question - Distinguish between absolute and comparative advantage OR state and explain 2 factors promoting globalisation

    6 mark question - Analyse the effects of international trade OR Benefits and drawbacks of globalisation
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    (Original post by charlieoakley97)
    Extract 1:4 mark question - Distinguish between absolute and comparative advantage OR state and explain 2 factors promoting globalisation

    6 mark question - Analyse the effects of international trade OR Benefits and drawbacks of globalisation
    Question 1 - 2 factors promoting globalisation could be like technology improvements (transport, internet etc.) and creation of trading blocs?


    Question 2 - By effects of international trade are we talking about the benefits to a country who partakes in international trade e.g. increase in living standards and reduction of poverty, but also the downside if they are reliant on primary commodities and the global economy takes a downturn... What else would you say
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    (Original post by politicalmind)
    Question 1 - 2 factors promoting globalisation could be like technology improvements (transport, internet etc.) and creation of trading blocs?


    Question 2 - By effects of international trade are we talking about the benefits to a country who partakes in international trade e.g. increase in living standards and reduction of poverty, but also the downside if they are reliant on primary commodities and the global economy takes a downturn... What else would you say
    Promoting globalisation I'd go for trade liberalisation so reduction of trade barriers etc. and then advancements in technology via internet and, for an example, cheaper and faster air and freight transport and so on.

    With the international trade question, I would say how it can improve standard of living, alleviate poverty, allow countries to exploit their comparative advantages and encourages specialisation. Downside of this is that increased integration means an economic crises in one country is sure to be felt by its partners e.g. recession. This is especially negative to developing countries who rely on their primary commodities as a contraction of demand would have an adverse effect on their export revenue.
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    (Original post by charlieoakley97)
    Promoting globalisation I'd go for trade liberalisation so reduction of trade barriers etc. and then advancements in technology via internet and, for an example, cheaper and faster air and freight transport and so on.

    With the international trade question, I would say how it can improve standard of living, alleviate poverty, allow countries to exploit their comparative advantages and encourages specialisation. Downside of this is that increased integration means an economic crises in one country is sure to be felt by its partners e.g. recession. This is especially negative to developing countries who rely on their primary commodities as a contraction of demand would have an adverse effect on their export revenue.
    An analysis of international trade for 6 marks would require one detailed benefit chain that can be brought about through international trade and one detailed negative chain right? I think that's the strongest disadvantage to discuss, maybe relate to Malawi who clearly rely on the external sector as a source of imports and exports relative to domestic output.
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    can a kind heart please put together a bullet point list of the key issues needed to be covered for this exam.
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    How would you write about deregulation raising long run economic growth and LRAS?
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    (Original post by Marshmallow21)
    A reduction in the costs of production increases SRAS (not LRAS) and so leads to short-run economic growth (not long-run economic growth)

    Changes in the costs of production affect short-run economic growth

    Changes in the quality and quantity of factors of production affects long-run economic growth
    How would you write about how deregulation raises long run growth and LRAS then?
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    I have no idea of what questions to expect... The past papers are useless.
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    (Original post by fpmaniac)
    I have no idea of what questions to expect... The past papers are useless.
    Because the past papers are based on different case studies..
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    Guys, I want to start a google doc where we can all add ideas for the 20 marker and any other to make sure we all get top marks. If you guy want to do so, let me know
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    (Original post by Todd199)
    Guys, I want to start a google doc where we can all add ideas for the 20 marker and any other to make sure we all get top marks. If you guy want to do so, let me know
    go for it!
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    Make it invite only and PM me it. I'll contribute.
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    (Original post by flairs)
    How would you write about how deregulation raises long run growth and LRAS then?
    Because it increases competition as more firms can enter the market which leads to greater productivity and efficiency and hence increases LRAS and long-run economic growth
 
 
 
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