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Edexcel Economics Unit 1 & 2 January 2009

Hey is anybody doing edexcel economics unit 1 (Markets: How they work) and unit 2 (Markets: How they fail) in january 2009?

Reply 1

Jay711us

Yep! i am retaking unit1. Also, giving unit 2

Reply 2

rukshan25

Ya... im doin unit 1... Ive already done them... im repeatin unit 1 .... because, did not get the grade i expected... got a "D"..... Unit 2 is quite easy, I got an "A" for it..... i still fear unit 1... eventough it seems easy when doing pastpapers.... so gud luk guys.

Reply 3

Jordan_U

Yep, I'm retaking Unit 1... I got a C in that so hopeully I'll do well this time

Reply 4

Sneddon

6

Unit 1 + 2 in January
Unit 3 in June

Royally cawked up Eco :smile:

Past papers seem ridiculously easy going through them now. Needing 80/90 UMS on both papers. My Unit 3 was a D so if that goes to pot in June i'm screwed like no other.

Reply 5

U-Dawg

weird question, but do you think they've created the exam already? or do they wait till after xmas?

Reply 6

a.sehgal

Yeh I do this course it's called competitive markets now right? With the first two units rolled into one. They must have written the paper as the articles placed in the papers are quite old compareded to the date of the paper itself. I'm finding economics quiet difficult how is every1 preparing any sugeestions appreciated

Reply 7

hussey786

OP

anybody got any ideas on what might come up in unit 2?

Reply 8

Vesta

18

Unit 3

Reply 9

Jay711us

Hey! Rukshan25, can you please tell me what to go through for unit 2 and what type of questions are usually asked?
Thanks

Reply 10

rukshan25

Jay711us

Hey! Rukshan25, can you please tell me what to go through for unit 2 and what type of questions are usually asked?
Thanks

basically.. study everything.... and try to memorize, understand ll the curves and all, evaluate them.... in the exam try to write as many POINTS as possible.... its really easy, coz almost all my friends got above 'B" :woo:

Reply 11

NesQuiK.

13

U-Dawg

weird question, but do you think they've created the exam already? or do they wait till after xmas?

Lol they write the paper 18 months in advance

Reply 12

hussey786

OP

Hey does anybody have the unit 1 and 2 papers for june 2008? i really need them. :smile:

Reply 13

a.sehgal

I could use those aswell please

Reply 14

xyz19

i'm taking 1-4....

Reply 15

hussey786

OP

how are you guys revising for the exams? any tips? :smile:

Reply 16

hussey786

OP

hey guys. i need help on this unit 1 question. if naybody could explain how to do it i would really appreicate it :smile:

A London theatre sells an average of 1,000 tickets per performance at a price of £20 each. There are still many empty seats for each performance. The owner conducts market research and finds that price elasticity of demand for the theatre’s tickets is -2. If the owner reduces the price of each ticket by 10%, the change in total revenue for each performance is likely to be:

A +£1600
B -£1000
C -£1600
D +£1000

Reply 17

goldsilvy

17

hussey786

hey guys. i need help on this unit 1 question. if naybody could explain how to do it i would really appreicate it :smile:

A London theatre sells an average of 1,000 tickets per performance at a price of £20 each. There are still many empty seats for each performance. The owner conducts market research and finds that price elasticity of demand for the theatre’s tickets is -2. If the owner reduces the price of each ticket by 10%, the change in total revenue for each performance is likely to be:

A +£1600
B -£1000
C -£1600
D +£1000

A +£1600

PED = % change in quantity demanded / % change in price

PED = -2

PED = x % change in quantity demanded / -10% = -2

x = - 2 / - 10% = 20%

1000 + 1000 * 20% = 1200 -> new quantity of ticket sold

20 + 20 * (-10%) = 18 -> new price / ticket

1200 * 18 = 21600

21600 - 20000 = 1600

Hope this helps (and hope even more that it is actually correct!)

Reply 18

goldsilvy

17

hussey786

how are you guys revising for the exams? any tips? :smile:

So far have been focusing on theory part, that is reading through the book and writing down definitions and other considered to be important points (formulas, examples etc.). Afterwards will do some data response questions from the past years (even though they changed the syllabus and January '09 exam will be harder than it used to be before).

Reply 19

ArchedEdge

15

Doing Edexcel Unit 1, so that's How Markets Work and Why They Fail in Jan

And from what I've seen, a lot of its based on knowing good exam technique and applying it in the situations.

Edexcel Economics Unit 1 & 2 January 2009

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