OCR GCSE Economics: A591, A592 and A593

Reply 60

usycool1

OP

19

Original post by SophF_rth

DONE

Hopefully ;P

Yup, thanks! :biggrin:

Reply 61

Liamnut

13

Original post by 07oakom

No it wouldnt :s-smilie:

it would prevent demand-pull inflation. Think about it...

if a country is in a budget surplus, they will have lots of money. This means they will spend lots. This means there will be an increase in demand. This means there will be demand pull inflation. Normally in a deficit you don't have inflation so you can just put interest rates down to cause growth but that's not the case atm ( stagflation). Anyhow at gcse all you need to know iis that in a surpuls people are better off and have more disposable income to spend on commodities thus there will be an increase in demand and therefore demand pull inflation.

Thought about it :smile:

Reply 62

Liamnut

13

Original post by 07oakom

You don't need to talk about net investment and transaction costs because there were talking about the current account on the balance of payments. If they were talking about the whole current account then you could talk about them

The current account is a section of the balance of payments, the balance of payments is not a section of the current account. If you go into an Eco book you will see

Reply 63

Liamnut

13

Original post by 07oakom

You don't need to talk about net investment and transaction costs because there were talking about the current account on the balance of payments. If they were talking about the whole current account then you could talk about them

Current account is a section of the B of P...

Reply 64

milworthy

1

Original post by Liamnut

if a country is in a budget surplus, they will have lots of money. This means they will spend lots. This means there will be an increase in demand. This means there will be demand pull inflation. Normally in a deficit you don't have inflation so you can just put interest rates down to cause growth but that's not the case atm ( stagflation). Anyhow at gcse all you need to know iis that in a surpuls people are better off and have more disposable income to spend on commodities thus there will be an increase in demand and therefore demand pull inflation.

Thought about it :smile:

No. In a government budget surplus there is high taxation and low government spending to achieve it. This means that after deductions from wages people have less disposable income to spend so there is less demand due to the higher tax. Equally, once there is less government spending there will be less spending on health and education etc, which would normally produce goods and provide more people with income that will allow them to spend money. With the reduction in spending there will be less disposable income and demand will fall across the whole economy. Therefore a budget surplus DEFINATELY does not cause demand pull inflation, in fact it is one of the policies the government uses to reduce inflation.

(edited 11 years ago)

Reply 65

jlewis9311

In terms of international trading it is simply the increased choice it allows firms to indulge in as they can go to wiser markets to get better prices ect and increased specialisation. It's simply to do with the advantages of international trade nothing to do with the text.

This was posted from The Student Room's iPhone/iPad App

Reply 66

usycool1

OP

19

Original post by Liamnut

if a country is in a budget surplus, they will have lots of money. This means they will spend lots. This means there will be an increase in demand. This means there will be demand pull inflation. Normally in a deficit you don't have inflation so you can just put interest rates down to cause growth but that's not the case atm ( stagflation). Anyhow at gcse all you need to know iis that in a surpuls people are better off and have more disposable income to spend on commodities thus there will be an increase in demand and therefore demand pull inflation.

Thought about it :smile:

With a budget surplus, the government will have more income. However, they will purposefully keep government spending down as their aim is to deflate the economy (and so improve balance of payments deficit).

Check this site out:
http://en.wikipedia.org/wiki/Fiscal_policy#Methods_of_funding
Scroll down to "Economic effects of fiscal policy"

Or, if you have the OCR GCSE Economics textbook (from Heinemann), turn to page 76 and read the second paragraph of "How does fiscal policy work?"

:smile:

(edited 11 years ago)

Reply 67

avi312

same i was pressed for time but i answered all the q's. I missed out the one about proectionist measures but only got through intro and one advantage and one disadvatage. But i though a591 was easy and a592 was slightly harder

Reply 68

avi312

and in a budget surplus tax revenue is greater than its spending and vice versa for deficit..... Look in your economics textbook (if you school can afford one)

Reply 69

avi312

Original post by Xenoth

No problem :smile:

and I really don't know, I would assume that all exam boards would standardise to some degree, to allow for harder/easier papers, but I might be mistaken :smile:

yeah this is called the ums, since this paper is untiered, dumd people people do this paper as well so the grade boundaries are reltively quite low for gsce and since only cleverer people do it next year for a/s level then its a different story

Reply 70

abccba120

8

So how were your results guys? I did A591B and got 49/60 ums = A i think and also i did a592 and got 58/60 ums = A* no idea why there is such a big gap.. so overall im one mark off an A*, you guys think ill be able to get an A* overall as i still got globalisation to do next year.. :P

Reply 71

milworthy

1

Original post by abccba120

So how were your results guys? I did A591B and got 49/60 ums = A i think and also i did a592 and got 58/60 ums = A* no idea why there is such a big gap.. so overall im one mark off an A*, you guys think ill be able to get an A* overall as i still got globalisation to do next year.. :P

Oh yeah Absolutely, you need like one mark over the A* grade boundary so thats so do-able. I mean you practically got 58/60 of module 2 so you sound like you know what you're talking about when it comes to economics. I did all three exams this year and got 53/60 A in Unit 1, 50/60 unit 2, and then 119/120 A*, and that was high enough to pull me over the A* grade boundary by quite a lot!

Oh an also remember that the third unit is largely based on a pre release stimulus, and many of the questions in the exam are often worth 4 marks and are like 'describe the trend of data between year x and year y', which should be easy marks.

Good luck next year!

Reply 72

abccba120

8

Original post by milworthy

Oh yeah Absolutely, you need like one mark over the A* grade boundary so thats so do-able. I mean you practically got 58/60 of module 2 so you sound like you know what you're talking about when it comes to economics. I did all three exams this year and got 53/60 A in Unit 1, 50/60 unit 2, and then 119/120 A*, and that was high enough to pull me over the A* grade boundary by quite a lot!

Oh an also remember that the third unit is largely based on a pre release stimulus, and many of the questions in the exam are often worth 4 marks and are like 'describe the trend of data between year x and year y', which should be easy marks.

Good luck next year!

Thanks for the advice! If you got 1 mark of full marks on globalization im sure i can pull at least 1 mark above A* boundary :P, i just wanted to know if it was going to be harder or easier next year and by your view easier which makes me feel a lot better and less worried about it :L. The unit 1 result was my only result i was disappointed in as mostly the rest of my results were A*s xD + im thinking of taking economics further like A level and possibly further like uni therefore i really want this overall A* and well done on your A* grade! :smile:

Reply 73

Liamnut

13

Haha, reading the threat after doing AS economics makes you feel stupid when you read the questions you asked.