Syra96
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Hi guys,

I'm currently studying AS Economics and am struggling to gain above 20/25 in the final question - any tips would be greatly appreciated. :confused:
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MogarCreeper
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20/25 isn't bad at all, coming from a fellow AS Economics student.

Our Economics lecturer always makes us reca every piece of information we've learnt relevant to the case study and put in as much as possible, apparently examiners like it?

I'm struggling to get above a C at the minute, have you got any tips for me?x
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user212
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(Original post by Syra96)
Hi guys,

I'm currently studying AS Economics and am struggling to gain above 20/25 in the final question - any tips would be greatly appreciated. :confused:
You need to quote the extract and keep referring to it throughout your response.

evaluate after each point you make, so get into the habit of saying 'however this depends upon...' and 'in the current economic climate this is likely/unlikely..' to counteract all the points you make.


try to use actual figures for the unit 2 essays for example remember the size of uk debt& deficit, unemployment rate, inflation rate, bank of england base rate because i used to use them to evaluate the use of policies. Eg, if the point is to decrease interest rates i would evaluate by saying the BoE base rate currently is very low already at 0.5% so it is unlikely that they would go even lower& if the point is to increase govt spending you can say the govt isnt in a position to do this because of the 1.4trillion debt so its an option but an unlikely one.
Getting above 20 is just about evaluating a lot
Also if you want more time for the essay, try to complete multiple choice as quick as you can, you can get 25/25 on the multiple choice in 10-15 minutes!
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Syra96
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(Original post by MogarCreeper)
20/25 isn't bad at all, coming from a fellow AS Economics student.

Our Economics lecturer always makes us reca every piece of information we've learnt relevant to the case study and put in as much as possible, apparently examiners like it?

I'm struggling to get above a C at the minute, have you got any tips for me?x
Hiiii,

Thanks for that. Keep your 5 markers short + concise, 8 markers - mention 2 points in which you refer to the trough/range/peak with accurate measurements. 12 markers = FACTOR, CAUSE EFFECT + DEFINITIONS AND ACCURATE DIAGRAM. 25 markers, introduce market failure, integrate definitions, include examples i.e a negative externality etc. Highlight the effect of implementing an intervention + diagram - followed by an evaluation of its effectiveness. Free market argument, and conclusion. That's the basic structure my teacher introduced. Hope it helps!
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Syra96
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(Original post by user212)
You need to quote the extract and keep referring to it throughout your response.

evaluate after each point you make, so get into the habit of saying 'however this depends upon...' and 'in the current economic climate this is likely/unlikely..' to counteract all the points you make.


try to use actual figures for the unit 2 essays for example remember the size of uk debt& deficit, unemployment rate, inflation rate, bank of england base rate because i used to use them to evaluate the use of policies. Eg, if the point is to decrease interest rates i would evaluate by saying the BoE base rate currently is very low already at 0.5% so it is unlikely that they would go even lower& if the point is to increase govt spending you can say the govt isnt in a position to do this because of the 1.4trillion debt so its an option but an unlikely one.
Getting above 20 is just about evaluating a lot
Also if you want more time for the essay, try to complete multiple choice as quick as you can, you can get 25/25 on the multiple choice in 10-15 minutes!
Thank you so much, that's pretty much cleared it up for me! If you don't mind me asking - have you sat the exam, and if so, what grade did you obtain?
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ridirahman
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Hey, can someone help me with a multiple choice question from June 11?
Its Q.6

The table below shows the shares of total income of different income groups in 2005 and 2010for an economy.

% share of total income % Income Group 2005 2010
Bottom 10% 4.1 2.5
Bottom 20% 9.8 6.8
Bottom 30% 16.0 12.0
Top 30% 47.0 54.0
Top 20% 35.0 41.0
Top 10% 20.0 26.0

From the data, it may be concluded that over the period in question
A the bottom income groups experienced a fall in their income.
B the distribution of income became more unequal.
C the distribution of wealth became more unequal.
D everyone became better off because total income increased.

The Answer is B but I dont understand why the answer isnt A???
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Jupers
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(Original post by ridirahman)
Hey, can someone help me with a multiple choice question from June 11?
Its Q.6

The table below shows the shares of total income of different income groups in 2005 and 2010for an economy.

% share of total income % Income Group 2005 2010
Bottom 10% 4.1 2.5
Bottom 20% 9.8 6.8
Bottom 30% 16.0 12.0
Top 30% 47.0 54.0
Top 20% 35.0 41.0
Top 10% 20.0 26.0

From the data, it may be concluded that over the period in question
A the bottom income groups experienced a fall in their income.
B the distribution of income became more unequal.
C the distribution of wealth became more unequal.
D everyone became better off because total income increased.

The Answer is B but I dont understand why the answer isnt A???
the table shows %'s not actual figures. what if total income in the economy significantly rose over the period? then the 2.5% in 2010 could be more in £ than the 4.1% in 2005

if that makes sense
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ridirahman
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(Original post by Jupers)
the table shows %'s not actual figures. what if total income in the economy significantly rose over the period? then the 2.5% in 2010 could be more in £ than the 4.1% in 2005

if that makes sense
Yeahh thanks that makes more sense.
Can you help me with this question as well if you don't mind?
I'm really confused with this question..

Q.7
An industry’s supply curve is more likely to be price elastic in the short term if
A the industry uses scarce factor inputs.
B its firms are operating below their full capacity.
C its firms hold relatively low levels of stock.
D there are many substitutes for its output

The answer is C but i don't understand why.. and why the other ones are wrong?
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saran12
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(Original post by ridirahman)
Yeahh thanks that makes more sense.
Can you help me with this question as well if you don't mind?
I'm really confused with this question..

Q.7
An industry’s supply curve is more likely to be price elastic in the short term if
A the industry uses scarce factor inputs.
B its firms are operating below their full capacity.
C its firms hold relatively low levels of stock.
D there are many substitutes for its output

The answer is C but i don't understand why.. and why the other ones are wrong?
The answer cannot be C That's impossible. It has to be B because if they are below full capacity they can easily respond to price changes hence elastic. If they hold low stocks it's going to be inelastic supply
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