O LEVEL's ECONOMICS

[Master Killer]

Do any body have the economics past papers of 1990's? Please help me. I am done with Past Papers from June 2003- November 2013, but still not satisfied with my preparation.

 

[Taha Noman]

woah! go easy bro! i have done 8 years of PP. i think thats more than enough ! which book did you study from?

 

[Master Killer]

woah! go easy bro! i have done 8 years of PP. i think thats more than enough ! which book did you study from?

brian titley. What about yours?

 

[Master Killer]

By the way from which school are you from?

 

[napsternapster]

That's quite unecessary. I have done only 4 years past papers from 2010-2013, as all the previous one are irrelevant and out of cambridge's current format. Plus, they're changing the format and prose of the paper, so you should expect new conjured questions.

 

[Taha Noman]

By the way from which school are you from?

The new one from Brian titley. But used Susan grant for market failure.
Daps

 

[napsternapster]

The new one from Brian titley. But used Susan grant for market failure.
Daps

Since you have the Susan Grant book, could you tell me if my steps to calculating CPI are correct because I studied from Brian's book:
Step 1. Multiply the proportion of income spent on the each good and find the weighted price
Step 2. Add up all the weighted prices to form the 'basket'
Step 3. Calculate the figure of the basket and use it as the base year
Step 4. Calculate the weighted prices in the next year
Step 5. Calculate the total basket of that year
Step 6. Calculate the CPI using the formula of dividing the weighted price in the current year over the weighted price in the base year
Step 7. Whatever results come, add that to the base year which represents CPI

Are these steps correct? Speaking of which, is RPI and CPI the same exact measure but just a measure of different goods or services? Lastly, do any of you have the economics guess from Imran Latif? If you do, please share.

Thanks.

 

[Taha Noman]

Since you have the Susan Grant book, could you tell me if my steps to calculating CPI are correct because I studied from Brian's book:
Step 1. Multiply the proportion of income spent on the each good and find the weighted price
Step 2. Add up all the weighted prices to form the 'basket'
Step 3. Calculate the figure of the basket and use it as the base year
Step 4. Calculate the weighted prices in the next year
Step 5. Calculate the total basket of that year
Step 6. Calculate the CPI using the formula of dividing the weighted price in the current year over the weighted price in the base year
Step 7. Whatever results come, add that to the base year which represents CPI

Are these steps correct? Speaking of which, is RPI and CPI the same exact measure but just a measure of different goods or services? Lastly, do any of you have the economics guess from Imran Latif? If you do, please share.

Thanks.

Okay. Will tell you tomorrow!

 

[Master Killer]

Hey, please help me with some of my queries if you are able to do so. Moreover anyone can post here their queries and we will try our level best to solve it if we are able to do so!

My Queries: (MCQ's)

1) Specimen Paper 1/Q25 (2014)
Which factor is most likely to reduce the average age of a population in a developed country?
(A) a lower birth
(B) a lower death rate
(C) emigration
(D) immigration

NOTE: I know that option A and C are not correct. But according to me both the options B and D seems to be correct, but the mark scheme gave the correct answer for option D. Can you explain why and how?

2)What would an economist regard as a free good.
(A) A free sample of a cosmetic
(B) Free hospital treatment
(C) Ice at the north pole
(D) Ice from a refrigerator

NOTE: What is actually a free good for an economist?

3) What will be the immediate effect if a country's terms of trade worsen?
(A) A given volume of exports will buy less imports
(B) It will experience balance of payments difficulties
(C) Its exports will decrease.
(D) The currency will be devalued.

NOTE: What the phrase 'terms of trade means'?

 

[ujval joshi]

Bro ! I haven't done past papers yet ! But as per my knowledge of Eco, The phrase terms of trade simply states that Balance of trade ! And immigration does reduce the countries average age because the Method of calculating average population is by Putting total population as denominator so if the denominator decreases so the average population increases ! Answer of your last querry is option D and for querry no 1 answer is D ! And as per my guess right answer for 2 is C!