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Edexcel Economics Unit 4 Global Economy Discussion Thread (10.June.2014) watch

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    (Original post by alaynestone)
    I did question 1 and then question 4. Part 1 b was good, but what did people write about for 1 a? I talked about cuts in spending, less spending (automatic stabilisers and stuff) due to economy doing better than in 2009 and then increase in indirect taxes but I'm not sure if it's right.


    Question 4 was okay, apart from the part C. I left that till last and ran out of time but oh well.
    I did cuts in spending, increase in indirect taxes and decrease in the top rate of tax (Laffer curve thing)...


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    (Original post by shankpink)
    That inequality question was messing me up . that 10 mark relativ poverty and gini coefficient is it ok to include kuznut curve?
    Yeah the kuznets curve pretty much explains the issue
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    (Original post by tigerz)
    Well they say do 3 eval BUT in examiner reports some people do 2 evals but on one point but its marked as one big eval
    Its like you saing the %increase was large and furthermore b;ah has high significant and therefore...

    Its actually two but marked as one, I did that too!
    I do that too and I think its a very effective technique like when I was evaluating the harrod domar model or the Prebisch-Singer hypothesis I made 3 separate points on them but it counts as 1 big evaluation point since I'm still evaluating the same thing. When I say 5 evaluation I meant I did an evaluation for each limiting factor, then a conclusive evaluation on what I thought was the most significant factor. But on markschemes it says 4 factors and 3 evaluation was enough for level 5 so I was just wondering whether the other 2 eval would mean anything :dontknow:

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    (Original post by Layla Gepghry)
    for question 1a i talked about fiscal austerity, but misread the question and said less crowding out and less debt and lower unemployment, would i get any marks?
    You would get marks but you'd be capped to level 1/2 maybe becase those points are pretty irrelevant in terms of the question
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    (Original post by Fullycorporate)
    Yeah the kuznets curve pretty much explains the issue
    Thank lord. N that 8 mark , is it all about writing inequality is rising?? N savings gap is paradox of thrift suitable for evaluation?
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    (Original post by thatgirlag)
    I found timing tight, I generally finish with a decent amount of time to spare, however today I didn't finish with as much time left over as I usually do. I thought it was similar to June 2013 however I would say our section B was harder and their section A was easier. I'm pleased with the outcome overall and glad that's one A-Level done and dusted.
    That's good, Q3 and Q5 for you too? I think the majority would've done that combo.

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    (Original post by Light_bulb)
    Question 5c was horrible anyone else draw the economic business cycle?
    Yeah I did exactly the same, thought an ADAS was too obvious
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    (Original post by shankpink)
    Thank lord. N that 8 mark , is it all about writing inequality is rising?? N savings gap is paradox of thrift suitable for evaluation?
    Question for b about inequality 4b is just KAA marks isnt it? There's no need to evaluate (it was an explain question) so I drew a Lorenz curve shifting outwards and said the gini coefficient rose etc
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    (Original post by Layla Gepghry)
    for question 1a i talked about fiscal austerity, but misread the question and said less crowding out and less debt and lower unemployment, would i get any marks?
    Maybe depends for example less crowding out causes an increase in corporation tax, that would decrease the budget deficit. If you didn't relate those points to the question then you may get a few marks but not much.
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    For 1b) I put it would increase competitiveness, fairer distribution of income, economic growth, and that it could reduce a budget defecit.

    I did data response 5. For the diagram I showed a shift in AD, is that right?

    For the labour costs I put productivity and wages, but I didn't know how to analyse because it just asked for factors? I said high productivity means low unit labour costs because the workforce are more productive so they need less workers, is that ok?


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    (Original post by tigerz)
    OMDS, WE ARE SO FRIGGIN ALIKE

    I did the same, the 8 marker I only got 4 marks max, I did AD shifting in diagram, wasn't sure what they meant!? It said comment If the said explain I would of did it differently!!!!
    I liked the 15 but all did was unit 2 stuff >.<
    12 marker was easy to do half but kinda hard to get enough points!!!
    Omg hi 😫 I think everyone drew a different diagram for that question, really curious as to what the actual answer was LOL, my data was much sloppier than section A, hopefully boundaries are similar if not lower than last year *fingers crossed*
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    Hope they have got enough experienced examiners this time round . Last year this was a problem and we felt cheated by our grade although last years paper was much easier than this years. We students had to fork out a fortune for recall of papers ect. However, I hear there is a similar problem this year and hope they sort it out so we students don't suffer the consequences.
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    (Original post by Fullycorporate)
    Question for b about inequality 4b is just KAA marks isnt it? There's no need to evaluate (it was an explain question) so I drew a Lorenz curve shifting outwards and said the gini coefficient rose etc
    Yah iam sorry. I too did the same. Section A I selected 3 . How about you? I wanna know wethere paradox of thrift can be used as an evaluvation point.
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    (Original post by Dilzo999)
    :five: I threw in uk tax rates as well . Same for part b) I just mentioned france's increased tax. I was thinking of putting in the data in the question for part b into my answer for part a because it said France, UK and Greece. But just wanted to be on the safe side.
    do you remember what question 1 a was? thanks
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    (Original post by shankpink)
    Yah iam sorry. I too did the same. Section A I selected 3 . How about you? I wanna know wethere paradox of thrift can be used as an evaluvation point.
    I picked question 1 so I have no clue, sorry
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    (Original post by whitney_luxie)
    Same! Most people I asked did development...I found the trade set of questions quite straight forward...for the pattern of trade I explained with examples along the lines of how some countries became lead exporters e.g. China while others face declining exports despite being a strong exporter earlier e.g. USA...But I'm not sure if that's what they're looking for lol

    For agricultural subsidies question I used other countries other than EU and US to use as main example to explain my point :/ I'm worried it won't work now... The question was phrased as something like "economic effects of agricultural subsidies on global economy" so I thought it's okay 'cos it didn't specifically asked for EU/US :s

    I did 5 on competitiveness, ran out of time for the last question and couldn't finish a point, but I reckon the rest went alright. There was a weird one on GDP that was quite AS though lol.
    'a change in the pattern of trade, which reflects ongoing changes in structure of the global economy'. I went along the lines of how protectionist policies would shift trade to lower price countries (China) and exchange rates; talked about China's artificially low Yuan value boosting exports thus making it a world leader.
    I referenced South America a fair amount e.g. when the US introduced corn subsidies the WTO allowed Brazil to establish tariffs and quotas on American goods, which would have reduced trade between the two countries and negatively affected the global economy. Yeah, they didn't ask for you to choose a country so you should be fine but the whole essay should have revolved around the EU/US mainly ( as they are the two largest markets in the world and the question mentioned them!). I can definitely see why so few people chose question 2 haha Finished question 4 with about three minutes to spare which allowed me to add some more points to my Section A answers. Here's hoping for relatively low grade boundaries like last year! 79/100 was an A*
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    (Original post by Kutie Karen)
    Hope they have got enough experienced examiners this time round . Last year this was a problem and we felt cheated by our grade although last years paper was much easier than this years. We students had to fork out a fortune for recall of papers ect. However, I hear there is a similar problem this year and hope they sort it out so we students don't suffer the consequences.
    What was the problem last year? This scares me


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    How did people answer the 'what is meant by international competitiveness'


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    (Original post by VinceVC)
    To those who did 3a) what sorts of points did you give, not too sure about some of mine but once you got into 3b it went quite well in my opinion.
    I wrote about China showing growth but without development,
    Development coming from other sources such as aid and then a point that some measures of development include GDP per capita(supposed to be GNI per capita) therefore the two are synonymous? And evaluated each point


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    3B was a gift I thought. Think people wouldn't have done if didn't how to fully explain the savings gap.
    3A I felt I messed up.
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    Hey , can someone please tell me what was the title of the question on trade imbalances in section B on competitiveness
 
 
 
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