Syllabus Knowledge Let me tell you what I mean by syllabus knowledge. . Personally, I was taught to allocate 17 or 18 minutes to writing the 10 marker and 28 or 27 minutes for the 15 marker. Which question deserves more attention? We make it extra easy for you! Moving on to the 15 marker. We communicate economic concepts to students through a variety of ways such as newspapers articles, music, activity based lessons and literature.
This is extremely important to keep in mind when you do your exam. So this is probably the easiest of the 5 pieces of advice to remember. How do you expect anybody with no knowledge in Economics to understand what the heck you just wrote? Very useful later in life. It can be hypothetical but you have to explain it well. You should check with your teachers about it but yeah.
This is how you should be writing. Everything you write should have some kind of structure. You need to keep mental notes of what needs to be included. This led to a decrease in demand for product B because such a product is highly price elastic and consumers are likely to find a substitute. This gives them the opportunity to relate the concepts learned to real world examples. Ask them where it was that you did well and take that into account for your next practice. So how does the theory work? Pretty sure I am losing around 20 points there.
I didn't focus at demand side at all but more toward shifting the lras right. As a result, I got accepted to my dream college, the University of Waterloo, Canada, where I will major in Mathematics. Example In this part of your answer, you need to basically give an example supporting your explanation and the theory you used. Just prioritize some extra time to the sections they say could show up. The types of goods and services include necessities, normal, and luxury.
Example Like earlier, you gotta include your examples. Diagrams are easy marks unless you forget to include them. So how do we approach this? So how would you go about doing this? I commented that monetary could also be used to achieve short-run economic growth, and supply-side to reach long-term economic growth and then evaluated both of them against supply-side policies. Alternatively, the consequences of cigarette consumption towards society in the form of passive smoking and health problems may remain as smokers may not react to the indirect tax as cigarettes are addictive in nature. Your explanation revolves around telling the examiner how the indirect tax affects all three stakeholders. So I hope that clears up any confusion. Be extremely critical of your own work when you go over the mark scheme for a past paper you did.
On the other hand, the immediate benefits of an indirect tax are an increase of revenue for the government which could increase government spending on the economy. I didn't have much time at the end spent too much time trying to awake memories of asymmetric information in my brain so I omitted a business cycle diagram. We recommend a strategy of assessing every topic upon completion, right throughout the two year diploma. This is evident from the way the course is assessed. It teaches us how to make informed decisions and make better choices with the limited resources we have.
This last part has to do with managing your time in the exam. This is gonna be more technique based. Explanation This is where you use that thing in your skull called a brain to really impress your examiners. Choose an area of assessment below Coming soon! The final frontier for the economics paper. There are trends in Economics past papers to look for. This course emphasizes on real world application of the economic theories. Long example but do you see the difference? Keep it nice and structured so that your response is clean and reads well.
You can just refer the examiner to the same definition. Same goes for boundary 4. Your theory has to revolve around the question. A reduction in cigarette consumption could also lead to a reduction in negative externalities of consumption in the economy as there would be a reduction in passive smoking etc. Which would you realistically want to maximize right? You need to go more simple than that. So this article will serve as a kind of extension to a previous article I wrote which you can access through this. The tutors were excellent in explaining the concepts clearly, and encouraging me to put my best effort in physics.
Evaluation Here we go ladies and gents. How does implementing an indirect taxÂ help a government raise revenue and reduce the overall consumption of cigarettes? Just so you know, I do try to make these posts as unboring as possible. For your past paper practice, you should always keep that in mind. How should you go about planning? Explanation You could also write your example here if you wanted. Use key words from the question to indicate to the examiner that you know your stuff. Also take into account reading time of 5 minutes.