Pistas
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Did anyone else do IGCSE Edexcel Economics or IGCSE Edexcel Further Maths in jan 2020? If so, how was it for you guys?
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Pistas
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#2
Report Thread starter 10 months ago
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Personally I just completed the paper 2 for Economics today, and although the exam wasn't that hard, I couldn't attempt a 3 mark question due to lack of time.

Looking forward to the 20th of Jan now for the paper 2 of Further Maths
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fiastudies
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#3
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(Original post by Pistas)
Personally I just completed the paper 2 for Economics today, and although the exam wasn't that hard, I couldn't attempt a 3 mark question due to lack of time.

Looking forward to the 20th of Jan now for the paper 2 of Further Maths
what did you say for the 12 marker
Last edited by fiastudies; 8 months ago
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Pistas
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#4
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Honestly, I do not remember that well anymore. I believe the 12 marks question was about globalization's benefits on Kenya in the 2nd paper? Also, in the first paper, I think it was about the importance of knowing PED when deciding whether to increase taxes even further? I do remember doing a lot of application, and presenting both sides of the argument, however in paper 2, I wasn't able to write evaluation due to lack of time
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ath79
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what's the main difference between Edexcel & Cambridge Economics IGCSE? which one is easier? thanks!
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Pistas
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#6
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(Original post by fiastudies)
what did you say for the 12 marker
Hey, did you get your marks and grade yet? If so, how did it go?
(Original post by ath79)
what's the main difference between Edexcel & Cambridge Economics IGCSE? which one is easier? thanks!
I don't really know how Cambridge Economics IGCSE is like, I would suggest you to look up the past papers, and then decide for yourself. Often times what's easier for one could be harder for others, so I think it would be best if you make that decision yourself based on your personal preferences.
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ptl.hrn
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Do you have the economics Jan 2020 paper mark scheme?
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ptl.hrn
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(Original post by Pistas)
Personally I just completed the paper 2 for Economics today, and although the exam wasn't that hard, I couldn't attempt a 3 mark question due to lack of time.

Looking forward to the 20th of Jan now for the paper 2 of Further Maths
Hi could you help me with the economics paper 2. Jan 20th? Please.
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Pistas
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(Original post by ptl.hrn)
Hi could you help me with the economics paper 2. Jan 20th? Please.
Yes sure, always! I would love to be of assistance to you. What do you need help with?
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ptl.hrn
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(Original post by Pistas)
Yes sure, always! I would love to be of assistance to you. What do you need help with?
I needed help with the 9 marker - Asses the ways a country can reduce the shortage of seasonal workers
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Pistas
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#11
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Before I go on to answer the question, I need you to know the reason most students fail to achieve 9/9 marks is because they often write a generalized answer. The key to gaining all 9 marks is application. Your answer must be in context. There are usually a few lines of context given before the question, and your answer must refer to the data given. If there are any numerical values given in the data provided, try your hardest to somehow mention them in your answer, as this will allow the examiner to give you the application marks.

Now because in this case, you haven't given me any context or data, I can only give you a generalized answer.

Supply side policy can help reduce the shortage of seasonal workers. Supply side policy is any policy that aims to improve the skills and increase the potential of an economy to produce more goods and services. Investment by governments and firms in education and training will help to improve the ability of the currently unemployed people in the economy. As a result, people will be more employable, since they will be able to develop a wide range of skills. Governments can also help by providing firms with incentives to invest in training the currently unemployed, perhaps by meeting some of the training cost. An increase in government training schemes might increase the supply of skilled seasonal workers, to help businesses meet rising demands, especially in times of holidays where the demand for seasonal workers is high.

Furthermore, government can lower income taxes to encourage working. If taxes are lowered, people will be more willing to work as they will be able to earn a higher disposable income which will allow them to increase spending. Additionally, an increase in infrastructure spending will help to reduce the shortage of seasonal workers. People are often unable to work because they are geographically immobile, however, an increase in investment on infrastructure will improve transport and communication systems.

Unfortunately, supply side measures are often very slow to have an impact on the economy. Improvement in economy through investment in education and training can take up to 10 years to be seen. Consequently, governments are more likely to use them together with expansionary fiscal policy
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Pistas
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#12
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Hope this helps. If there's something else you need help with, please don't hesitate to ask.
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ptl.hrn
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(Original post by Pistas)
Hope this helps. If there's sometshing else you need help with, please don't hesitate to ask.
Yeah it did. Thank you so much. Also another question I have;
The annual inflation rate in Kenya was 5.7% in September 2018 and fell to 5.53% in October 2018

Explain how monetary policy could further reduce the rate of inflation in Kenya? (6)
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Pistas
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I am so sorry for the late response. I have had a rough couple of days.

Personally I would suggest you to first write the definition of the term used as your first line in all of 6 marker questions. In this case, you should write the definition of monetary policy as your first sentence.

Monetary policy is the use of interest rates and the money supply to control aggregate demand in the economy. If the inflation rate of 5.53% in Kenya in October 2018 is due to too much demand relative to supply (demand pull inflation in other words), then raising the rate of interest in Kenya would be a good decision. Monetarists believe that inflation is caused by the money supply growing too quickly. They believe that the way to reduce inflation is to slow down the speed at which the money supply is growing and this involves increasing the interest rate. When interest rates are higher, borrowing is likely to fall as the borrower will have to pay an increased interest for the borrowed money. Thus the money supply will grow less quickly which will limit price increases in the Kenyan economy. Also Kenyans will be more encouraged to save rather than spend due to high interest rate, and as a result, the aggregate demand in the economy will fall, easing the inflationary pressure.
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Pistas
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#15
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If you need me to explain that to you in details, or if you need help with any other question at all, please let me know. Also please accept my apologies for the delayed response
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