A Level Economics:

[econslover]

Which one did you do?

I did variant 2, essay number 3.

 

[econslover]

Guys, for those who did variant 2, the final question for data response, how did you all interpreted it? It seems that there are two ways. one is referring that zimbabwe has the highest inflation rate in the world, the other way of seeing it, is that another country having the highest inflation rate in the world, which makes Zimbabwe not the highest.

 

[econslover]

Paper 4 Guess will be sent on email address. therefore, be quick to send the request to get it timely.

sir what did u meant when u said the threshold mark will be set at 23?

 

[Qamar Baloch]

sir what did u meant when u said the threshold mark will be set at 23?

its expected thresholf or A grade in Paper 2 AS Economics

 

[RoOk1303]

I did paper 22 and for section B , i did the essay which was on merit goods and demerit goods. I could not finish the paper properly

 

[Qamar Baloch]

I did paper 22 and for section B , i did the essay which was on merit goods and demerit goods. I could not finish the paper properly

Very sad. When you know every bit of information and cannot complete it then it tortures a lot.

 

[RoOk1303]

I took too much time to do the case study which was on hyperinflation in zimbabwe. Your predictions were good. Thanks a lot !

 

[RoOk1303]

Guys, for those who did variant 2, the final question for data response, how did you all interpreted it? It seems that there are two ways. one is referring that zimbabwe has the highest inflation rate in the world, the other way of seeing it, is that another country having the highest inflation rate in the world, which makes Zimbabwe not the highest.

Im not sure abt my answer i gave a definition of BOP and current account. I also used the marshall-lerner condition and talked abt terms of trade. I was short of time.. And was really nervous ! :s

 

[RichardCastle]

Hi guys who did variant 2 for paper 2,
what are your definition of hyperinflation ? Most I know they modify the definition for inflation but the definition I found on A lvl textbook(y 2002) is a rise in general price level that is so high that people lose confidence in money functioning as the medium of exchange. Well I didn't learn this before tho...

Anyway in section d, I did use Zimbabwe as the example since data is provided already, and in actual fact, Zimbabwe did experience the highest inflation rate around ''04. I wrote about the trade balance given is likely to constitute most of the trade balance(the data suggests a worsen trade balance hence I infer a worse CAD), and income elastic items of exports and imports(effect of hyperinflation to purchasing power of money to demand change), and the demand elasticities in the long run is likely to be elastic. I just felt that my answers are abit strange, since they do not exactly consist of AS topics.

 

[Qamar Baloch]

I took too much time to do the case study which was on hyperinflation in zimbabwe. Your predictions were good. Thanks a lot !

Your are always welcome dear

 

[RoOk1303]

Hi guys who did variant 2 for paper 2,
what are your definition of hyperinflation ? Most I know they modify the definition for inflation but the definition I found on A lvl textbook(y 2002) is a rise in general price level that is so high that people lose confidence in money functioning as the medium of exchange. Well I didn't learn this before tho...

Anyway in section d, I did use Zimbabwe as the example since data is provided already, and in actual fact, Zimbabwe did experience the highest inflation rate around ''04. I wrote about the trade balance given is likely to constitute most of the trade balance(the data suggests a worsen trade balance hence I infer a worse CAD), and income elastic items of exports and imports(effect of hyperinflation to purchasing power of money to demand change), and the demand elasticities in the long run is likely to be elastic. I just felt that my answers are abit strange, since they do not exactly consist of AS topics.

I just gave a definition of inflation and stated that hyperinflation occurs when money fails as a medium of exchange. For section B, which essay have you done?

 

[Qamar Baloch]

It is nice that you people are discussing things. I wish all of you get an amazing grade.

 

[RichardCastle]

I just gave a definition of inflation and stated that hyperinflation occurs when money fails as a medium of exchange. For section B, which essay have you done?

I'm sure you have already pocketed 2 full points then

I did question 3 the first part which is to differentiate demerit goods and merit goods also appear in Qamar Baloch's guess and I've came across past years about benefits and drawback of indirect tax and total ban on demerit good(in this case cigarettes).

Part A - after definition,
Similarities :
1) both are result of information failure

Differences :
1) merit goods have positive externalities and as opposed to demerit goods
2) merit goods are under consumed and under provided

+ a couple of diagrams about cost n benefits.

Part B -
Smoking has -ve externalities(reduced health , reduced productivity of the work force, increased in tax allocation for healthcare)
Arguments on indirect tax + diagrams
1) will reduce demand and push up price, externalities addressed
2) heavy tax burden on consumer since cigarettes are price in elastic
3) doesn't distort market and price mechanism
4) alternatives to cigarettes appear to evade tax

Arguments on total ban
1) distorts market but also address externalities
2) more time n money can be spent on healthier activities (this is really debatable)
3) in the long run will keep the future generation out of smoking harm, unlike tax which keeps the products circulating
4) smuggling and black market
5) more tax money spent to patrol the borders, high administrative cost.

 

[RoOk1303]

I did the same question !
Your answers seem to be perfect. Mine were written in haste due to lack of time :/ and i think i will lose marks because i did not explain effects of indirect tax well. Nevermind, good luck for your exams

 

[Qamar Baloch]

Nice

 

[Qamar Baloch]

I did the same question !
Your answers seem to be perfect. Mine were written in haste due to lack of time :/ and i think i will lose marks because i did not explain effects of indirect tax well. Nevermind, good luck for your exams

Wish you better luck for P1, P3 and P4

I'm sure you have already pocketed 2 full points then

I did question 3 the first part which is to differentiate demerit goods and merit goods also appear in Qamar Baloch's guess and I've came across past years about benefits and drawback of indirect tax and total ban on demerit good(in this case cigarettes).

Part A - after definition,
Similarities :
1) both are result of information failure

Differences :
1) merit goods have positive externalities and as opposed to demerit goods
2) merit goods are under consumed and under provided

+ a couple of diagrams about cost n benefits.

Part B -
Smoking has -ve externalities(reduced health , reduced productivity of the work force, increased in tax allocation for healthcare)
Arguments on indirect tax + diagrams
1) will reduce demand and push up price, externalities addressed
2) heavy tax burden on consumer since cigarettes are price in elastic
3) doesn't distort market and price mechanism
4) alternatives to cigarettes appear to evade tax

Arguments on total ban
1) distorts market but also address externalities
2) more time n money can be spent on healthier activities (this is really debatable)
3) in the long run will keep the future generation out of smoking harm, unlike tax which keeps the products circulating
4) smuggling and black market
5) more tax money spent to patrol the borders, high administrative cost.

I did the same question !
Your answers seem to be perfect. Mine were written in haste due to lack of time :/ and i think i will lose marks because i did not explain effects of indirect tax well. Nevermind, good luck for your exams

 

[economist2]

Nice

Sir, will u be posting the guess paper p4 on this thread?

 

[Qamar Baloch]

Sir, will u be posting the guess paper p4 on this thread?

Yes dear I will be posting that very soon. send your request on [email protected]

 

[Qamar Baloch]

O Level Important questions for Peper 2 Economics are posted below. let your youngers know about it so that they can practice them before the examps.

 

[Qamar Baloch]

Go to following link for O levels discussion. O level discussions will not take place on this thread.

https://www.xtremepapers.com/community/threads/economics-p1-discuss-your-problems.17396/