quick revision notes for A2 economics??

[mista.lova.lova]

anyone has an idea of any site, providing them?? :O

 

[edu1]

THIS IS JUST A PREDICTION DONT RELY ON THIS(BY DANISH)


the prediction for economics aslevle paper 2 is here=
sexction A will come from micro(inshallah)
section b will must have a inflation question!
ONE QUESTION FROM DEMAND SUPPLY

_____________________VERY LESS CHANCES FOR MARKET FAILURE AND INTERNATIONAL TRADE! -----------------------

THIS IS JUST A PREDICTION THE REST IS IN ALLAHS HAND!
WISH U PEOPLE ALL THE BEST FOR YOUR EXAMS!

That would be ample. Just read the glossary from peter stimpson's book.

ECONOMICS BY ZOHAIB;
Absolute advantage is linked with the amount of resources that you have to produce a product. Say you can produce 100 units of wheat with 150 units of resources as compared to another country that can only produce 50 out of the 150 units then you have an absolute advantage in wheat production.

On the other hand comparative advantage is linked with the domestic opportunity cost ratios. If you can produce 50 units of agricultural machinery out of the 150 units to which 100 units belong to wheat production. Then your opportunity cost in machinery production is 1 : 2 which means that in order to produce 1 unit of machinery you have to give up 2 units of wheat.

Now lets get back to the other country. It could produce 100 units of machinery and 50 units of wheat. So, its opportunity cost 2 : 1 which means it needs to give up only 1 unit of wheat and can produce 2 units of machinery. So, as you can produce 2 units of wheat by giving up only 1 unit of machinery you have a comparative advantage as you can use your resources better for wheat production. While the other country has a comparative advantage in the production of machinery. So, you can focus on wheat production and the other country on machinery.


The Examiner only focuses on numerous topics and i have divided those topics into sections... The Examiner has a combination of asking questions... this combination is also available in the sections i have combined....... For instance if the first question contains the information about Basic economic problem then the next part will be of market systems or market failure...... This is the way he is gonna ask and now it is up to you and your understanding capabilities that you cope up/understand his question.....

SECTION 1: -Basic Economic Problem, PPC
-Economic Systems
-Market Failure

SECTION 2: -Demand, Supply and Equilibrium
-Elasticity
-Role of govt. in price mechanism

SECTION 3: -Characteristics and functions of money
-Inflation
-Measurement of Unemployment
-Division, Productivity and mobility of Labour

SECTION 4: -International trade
-Exchange rate
-Balance of payment
These sections are for paper 2 out of this sections the data response is from mainly sections 3 and 4 previously he asked from section 3 so there is a high probability that it might come from section 4...... For section B you only need to prepare 3 sections, 1 section you can leave in choice. Hope this information helps.
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THIS IS JUST A PREDICTION DONT RELY ON THIS


the prediction for economics aslevle paper 2 is here=
sexction A will come from micro(inshallah)
section b will must have a inflation question!
ONE QUESTION FROM DEMAND SUPPLY

I Think there;s a GREAAAATTTT chance of Balance of Payments and/or Exchange Rates coming in the Data Resoponse Question

ppc,market and command economies.inflation and exchange rate
Merit/Demerit/Public goods/CBA/tariffs/Quotas/ Comparative Advantage/ Absolute Advantage

 

[diskfrisker]

Zohaib ASS HOLE copying my ideas **** awf i wont even give a guess of eco p4 i had it very well planned out......... stop stealing others ideas and get a life looser

 

[ashhadazam]

: O !!
@abv What happened :O ?

 

[mista.lova.lova]

oeyyyyyyyy!!!!!!
i asked for A2, NOT AS!!!!

 

[princesszahra]

@diskfrisker
dare u not use bad words here!! :evil: :evil:

 

[mista.lova.lova]