Economics 0455 Paper2 variant 2

[Meg]

yeah um demand for a product can go up through several reasons, based on price elasticity and revolved around prices for a product, a decrease in tax rates, an increase in incomes, a larger market share, perhaps it's reputation, or weather reasons. i can't really remember now. question one was pretty difficult, i wasn't 100% sure myself what i wrote, but i did mention a lot about how it would be more expensive on other countries aka the united states.. and that if china had a surplus that meant their currency was on the open market and yeah strong and other countries had to pay more because it was a fixed exchange rate and unlike china imports would be more costlier for the us than china importing because the exchange rate isn't determined by the market forces. on the last part i wrote about tarrif's and quota's. blah. hope it was good. mcq's in a few weeks! hopefully it'll be easy enough to score 100%

Yeah i messed up in the demand question :/
but my section one went great! I wrote the same answer as you and its correct.
I want to score full in MCQ! any tips? :O

 

[theiceman]

It was ok ..which questions did u select , i chose 2, 3 ,4 .

i also answered the same.....
what did u wrote for "does skilled worker always earn higher than unskilled?"

 

[WhiteAngel]

i also answered the same.....
what did u wrote for "does skilled worker always earn higher than unskilled?"

i wrote the reasons for y skilled workers get higher pay ( qualifications and skills ).
and then wrote y unskilled may get higher pay (trade union, dangerous job )

What did u write ?

 

[Zainkhan]

If the average age of the population is high this means low death rate ? so is death rate affected by the average age of the population?

 

[Chucky]

It was amazing! I loved this paper! I wrote around 14 pages?
section A was really easy.
the first answer was that China had a trade surplus. Hence by raising its currency value, it makes importing cheaper. also it becomes more difficult for other nations to export chinese products as it becomes more expensive.
Countries face issues due to china's current account surplus because their balance of trade position has a deficit. this occurs because they import extensively from china
the next part was that other economies can reduce their deficit via trade positions as it would discourage imports from china. here I wrote about the ways to protect trade like embargos and quotas.
I wrote the answers for q.2,3 and 5
overall the paper was amazing
any doubts il help

yeah, number one was easy, although I turned out to be that odd one out, cause I did 4,6, and 7.

thanks for the answer to question 7 though, I did manage to write employment as a similarity and dependancy ratios could also be same for both developed and developing countries.

hope I score something good in 7.
really scared though

 

[Meg]

dont be scared
ud do gr8

 

[theiceman]

i wrote the reasons for y skilled workers get higher pay ( qualifications and skills ).
and then wrote y unskilled may get higher pay (trade union, dangerous job )

What did u write ?

hmmmm.....i first defined the both,wrote the differences and then i wrote like if a nation is developing and poor then more employment will be in primary and secondary and very less in tertiary sector,another one reason i wrote was if the supply of skilled worker is very high and supply of un-skilled worker is very low then firms might offer higher wages 2 attract them.....n in evaluation i wrote that,skilled workers earns higher than un-skilled but in some situations like mentioned above un-skilled workers are likely to earn higher than skilled

 

[WhiteAngel]

hmmmm.....i first defined the both,wrote the differences and then i wrote like if a nation is developing and poor then more employment will be in primary and secondary and very less in tertiary sector,another one reason i wrote was if the supply of skilled worker is very high and supply of un-skilled worker is very low then firms might offer higher wages 2 attract them.....n in evaluation i wrote that,skilled workers earns higher than un-skilled but in some situations like mentioned above un-skilled workers are likely to earn higher than skilled

hmm i think its a good answer

 

[theiceman]

hmm i think its a good answer

think so

 

[Zainkhan]

Problem in a developing country is that usually it has a high birth rate , high death rate, low average population age .. so it is usually overpopulated and cannot make the most efficient use of the country's resources. The problem in a developed country could be many immigrants coming into the country which would cause it to become overpopulated.. etc...

 

[Zainkhan]

oh and you're not the odd one . I Did 4,6,7 as well .. just abit curious about number 7 :/

 

[Ahmad Sanad]

It was ok ..which questions did u select , i chose 2, 3 ,4 .

I chose 2,3,5

 

[WhiteAngel]

think so

yup

 

[kboss]

i did the last 3....5,6,7
i thought 5 was the easiest of the lot.
hope all goes well and we all get A*s

 

[Manobilly]

Wasnot the section A about India?I guess it was!

 

[rjcooo1]

hmm i think its a good answer

I was really scared for this question but i wrote the dangerous jobs and stuff im not sure thou :/
chose 234 aswell

 

[eman haider]

Yeah i messed up in the demand question :/
but my section one went great! I wrote the same answer as you and its correct.
I want to score full in MCQ! any tips? :O

yeah just do a shitload of pastpapers. hehehe. and you'll ace it.

 

[Meg]

yeah just do a shitload of pastpapers. hehehe. and you'll ace it.

thanks

 

[Dinuka Malith]

yeah um demand for a product can go up through several reasons, based on price elasticity and revolved around prices for a product, a decrease in tax rates, an increase in incomes, a larger market share, perhaps it's reputation, or weather reasons. i can't really remember now. question one was pretty difficult, i wasn't 100% sure myself what i wrote, but i did mention a lot about how it would be more expensive on other countries aka the united states.. and that if china had a surplus that meant their currency was on the open market and yeah strong and other countries had to pay more because it was a fixed exchange rate and unlike china imports would be more costlier for the us than china importing because the exchange rate isn't determined by the market forces. on the last part i wrote about tarrif's and quota's. blah. hope it was good. mcq's in a few weeks! hopefully it'll be easy enough to score 100%

I think you mean to say , a wider consumer base instead of larger market share could possibly affect demand
Substitutes and compliment goods aswell

 

[Farez]

not that i did it... but the difference of population between developed and developing countries is based on the difference of emmigration, immigration, education, health, employment and all these factors.
i'd write and essay about it but i'm way too tired.
an example is that when there's a lack of education and skill in a developing country (stating the obvious) then women are most likely going to have children because they have the time to do so, however in a developed country women work and find children to be an interference. it also depends on the culture of a country, therefore in a developing country birth rates tend to be higher, and death rates too, gah. death rates are higher because people lack health facilities unlike a developed country.

I would like to point out that the question was about 'differences in population PROBLEMS', not just 'population'.