economics paper 2

[xmariam3x]

Yes

i did.for 2 a i wrote defination of income and cross elasticity.i wrote that cross shows subsitute and complementary while income shows inferior and normal with different signs.and i also described how.what u wrote for b?

that's question 3
i did q2: the max prices one

 

[hamza budhani]

Was the PED -0.4 in section A part B?

I was 2.5

 

[kaka g]

Was the PED -0.4 in section A part B?

I did it wrong I got 2.5

 

[hamza budhani]

I did it wrong I got 2.5

It is 2.5

 

[hamza budhani]

Anyone did q2 sectionb v2?

 

[SamiaSaad]

It is 2.5

How?

 

[hamza budhani]

How?

% change on qty demanded which waz 15 divided by change in price which was 6

 

[SamiaSaad]

Ah nevermind I got it. Made a stupid mistake :facepalm:

 

[kaka g]

Could be! I kept having thoughts it should be within 0-1.something

 

[Sarah Paul]

Even i got -2.5

 

[kaka g]

With so many people arguing the paper was easy, all I can say is it was confusing and tricky if not hard

 

[job wilson]

what did u guys write about that part, Why did export earnings from meat rise? even though prices of meat became cheaper
it was something like that

due to elastic demand a small change in the price would increase revenue as demand would increase hence export earnings for meat rose

 

[job wilson]

What did you all do in 1 a i and ii?
And the last question of 1 I think, that was, was the further decline in NZ's ToT expected or something. What did you answer to that.

ai part was easy it rose till june and then continous decline ....part ii cant remember

 

[kaka g]

I think we had to talk about the TOT, it kept falling throughout. I first wrote about the exports index that rose for a quarter, but then I changed it.

 

[xmariam3x]

I think we had to talk about the TOT, it kept falling throughout. I first wrote about the exports index that rose for a quarter, but then I changed it.

I cant remember what exactly was the (a)ii, we had to explain why TOT fell right?

 

[job wilson]

What did you all do in 1 a i and ii?
And the last question of 1 I think, that was, was the further decline in NZ's ToT expected or something. What did you answer to that.

to be honest ......I do not remember about the last part...but I wrote stuff about the depreciation of exchange rate.....import prices to fall.....and too much import from Australia of manufactured goods!!!!!!what did u wrote???

 

[job wilson]

I cant remember what exactly was the (a)ii, we had to explain why TOT fell right?

we had to account for the change in terms of trade

 

[kaka g]

I don't remember my answer, it was about falling prices of exports, lesser export income than previous years, and too much import of manufactured goods. And some more points I forgot.

 

[kaka g]

OOOOOOHHHHHH I was mixed up the second text given in Q1, where it mentioned high imports of manufactured goods from Australia and the expected betterment in Australia's exports or something.
I confused NZ with Australia... I thought we were talking about Australia's economy.

 

[kaka g]

What were the points about China, and lesser inflation pressure?