A Level Economics:

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zara97

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ok I'm confused about how rational consumer is expected to behave cuz there's a data response question about bottled water and the mark scheme says that a consumer will behave rationally if he believes that he is maximizing his current wants regardless of whether this choice is thought of as unwise. so a consumer will be rational if he uses bottled water because it's fashionable and he thinks that he is fulfilling his current want even if there's cheap tap water available as a substitute.

And what are direct intervention policies!!!! they're being used in a number of mark schemes as policies to foster growth but no mention of them anywhere else.

And how would an increase in demand for our currency affect the speculative demand for money??
 
Qamar Baloch

Qamar Baloch

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AS ECONOMICS Paper 2 is going to be held on 21st of May 2014.
I will post the guess paper by tomorrow evening, positively.
Don't worry and keep on working hard. The good news is, guess is proved to be a little easy. So, every one will remain comfortable, doing this.
However, Paper 4 may be a little difficult this time.
Wish all of you very best of luck!

Keep watching this thread for further updates.
 
Qamar Baloch

Qamar Baloch

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Dear students,
Revise PPC, Mixed economy, Functions of money, calculations and effects of inflation, Price elasticity of demand and income elasticity of demand, causes of changes in terms of trade, advantages and disadvantages of changes in terms of trade. I will post the complete question later. Complete guess consists of these topics.

Wish you good luck!
 
:: A^

:: A^

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Qamar Baloch said:
AS ECONOMICS Paper 2 is going to be held on 21st of May 2014.
I will post the guess paper by tomorrow evening, positively.
Don't worry and keep on working hard. The good news is, guess is proved to be a little easy. So, every one will remain comfortable, doing this.
However, Paper 4 may be a little difficult this time.
Wish all of you very best of luck!

Keep watching this thread for further updates.
Click to expand...
Its tomorrow night now :/ We r waiting for it sir! :)
 
:: A^

:: A^

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553
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Qamar Baloch said:
Dear students,
Revise PPC, Mixed economy, Functions of money, calculations and effects of inflation, Price elasticity of demand and income elasticity of demand, causes of changes in terms of trade, advantages and disadvantages of changes in terms of trade. I will post the complete question later. Complete guess consists of these topics.

Wish you good luck!
Click to expand...
No BOP? Exchange rate?
 
xmariam3x

xmariam3x

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:: A^ said:
And sir, how do we identify positive and normative statements?
Click to expand...
Normative statements usually have the words like "desirable/undesirable", "fair/unfair", "welfare" etc used because everyone's opinions of these things is different.
Positive statements are those that can be Proven right OR wrong
 
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Mahreen Mustafa

Mahreen Mustafa

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Qamar Baloch said:
Dear students,
Revise PPC, Mixed economy, Functions of money, calculations and effects of inflation, Price elasticity of demand and income elasticity of demand, causes of changes in terms of trade, advantages and disadvantages of changes in terms of trade. I will post the complete question later. Complete guess consists of these topics.

Wish you good luck!
Click to expand...
Thank u very much, Sir... but are u sure that if I study this it will be enough
 
hellblender

hellblender

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Is anyone else here using the studyguide.pk economics notes? Do you think they'll suffice for revision for P1 and P2? Do they miss out on any important details? Cheers
 
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