A selection of 40 AS Level model economic essays. As a result, such policies might not be implemented to a full extent, causing them to be ineffective. A rise in confidence in the economy would make households more willing to spend on goods and services, hence increasing consumption. The internet also gives rise to new industries and markets, such as social media, where monopolies have formed. It has become so dominant that the word “google” is now synonymous with “searching for something online”. They have been written by the Principal Economics Tutor, Mr. Edmund Quek, for everyone who can benefit from them. On the other hand, manufactured products are often of lower degree of necessity (higher YED value), followed by services (like entertainment or travel) which have the lowest degree of necessity and oftentimes, considered luxury goods (YED > 1). This can lead to lead to imported inflation, which is a form of cost-push inflation which occurs when the cost of production rises in the economy, independent of aggregate demand (AD). Therefore demand-side policies can be implemented more aggressively and thus more effective at promoting growth. On the other hand, manufactured products are products that have been processed from raw materials, for example consumer products like TVs. Useful Resources for A-Level Econ (Revision / Learning) Economics personal statement HELP Free Economics Essays and Economics Help Economics Model Essay Answers [A2 LEVEL - ALL EXAM BOARDS - ESPECIALLY AQA] [25], “A fall in the terms of trade is undesirable for the economy.” Discuss the statement. As shown in Fig.1 below, a fall in AD from AD1 to AD2 leads to a multiplied fall in real GDP from Y1 to Y2. The internet has also increased buyers’ and sellers’ access to information. Here is what I feel is a superbly clear and well-structured essay answer to a question on the economic and social effects of collusion within an oligopoly. This leads to increases in short-run AS (SRAS) and long-run AS (LRAS) which drives economic growth.
. Description. For other enquires, call 6402 3981. Detailed diagrams provided to supplement the essays. [25], The production of petrol should be left to market forces. The increases in C and I work alongside increased government expenditure (G), leading to increases in AD which allow for economic growth. Economics Tuition Singapore @ Economics Cafe Principal Economics Tutor: Mr. Edmund Quek. A fall in net exports leads to a deterioration in the current account while a slowdown in FDI worsens the capital account. The model essays on Microeconomics in this book serve as a guide to aid their revision on the types of essays they can present to help them score well in the examination. The key to achieving a good grade for the Singapore-Cambridge GCE ‘A’ Level Economics is not producing the best economics essays leisurely in the examination, but producing good economics essays within the examination time constraint. [25], Discuss whether a shift from reliance on foreign workers to improving labour productivity in Singapore would lead to an increase in international competitiveness. [25].
Given that demand for labour is derived from the demand for goods and services which the hired labour is used to produce, the decrease in actual growth also leads to a rise in cyclical unemployment (demand-deficient unemployment).
Policies such as privatisation and deregulation spur productive efficiency, which in the long term is beneficial for the economy and helps to drive growth. [15], (a) Explain whether the demand for private cars is elastic or inelastic in Singapore with respect to price and income. Read the best A Level Economics essays that has well developed essay points using sound Economics concepts. With his classes and economics study materials, you will be sure to achieve the Economics grade you desire. Economics A Level Paper-4 Topical Model Essays (Kamran Malik) quantity For example, in the wake of the US financial crisis in early 2009, the MAS allowed a depreciation of the currency by about 2% in order to prop up external demand. [25], (a) Explain how the different characteristics of the market structures of monopolistic competition and oligopoly affect pricing and output decisions. The internet has drastically lowered the barriers to entry (hindrances that prevent or discourage prospective firms) for many markets. The model essays are specially written as answers to selected past year questions, and are supported with essay outlines and notes on how you can successfully compose convincing essays. Some of these funds are directed into property investments, fuelling higher housing prices. Aside from causing asset price inflation as discussed earlier, the inflow of hot money results in higher demand for Sing dollar and may result in an appreciation of the currency. Questions cover all topics of the A-Level Economics syllabus in Macroeconomics. We don't spam! There are also portals like Trip.com that allow easy comparison of flights and hotel prices and services.
In addition to basic knowledge and comprehension, Cambridge International (CI) essay questions test a variety of higher order skills like application, analysis and evaluation.
Written specifically for AQA A level Economics but suitable for all exam boards. Shipping: $2.90/orderEnjoy FREE 1-3 days doorstep delivery with a min spend of $35!
The essays also include evaluative points where you can learn how to weigh and reconcile conflicting ideas, making a fair and balanced essay. This website and its content is subject to our Terms and Market-oriented supply-side policies work by reducing costs of production and increasing the quantity and quality of factors of productions (FOPs). Knowledge of YED might be insufficient to determine consumption effects, since the ceteris paribus assumption often does not hold true in real life. 50 A-Level economic essays and model answers. registered in England (Company No 02017289) with its registered office at 26 Red Lion Without dealing with the problems raised above, policies to reduce corporate taxes and lower interest rates may also be ineffective to spur I. Additionally, market-oriented supply-side policies promote increased competition and efficiency, avoiding problems of government failure. A rise in the price of sugar has led to an increase in the demand for artificial sweeteners and this has pushed up the prices. - (30) AQA unit 5 Business Economics; Discuss 3 different Policies to Reduce Inequality(30) AQA In contrast, producers of manufactured goods and especially services should seek to expand output by a lot more. While knowledge of YED is important as it does provide a firm with useful and relevant information to help achieve its goals, there are limitations to its application. Volkswagen Group sells a large variety of vehicles, including luxury passenger cars under brands such as Bentley, Lamborghini and Porsche, as well as more pedestrian offerings under brands like SEAT or Skoda. The two books, which were written by Mr. Edmund Quek, are best-selling economics essays books with the highest sales volume in Singapore where over 26000 copies have been sold. Model Essays for A Level & IB Economics Model Essay 1 Examine the importance of income elasticity of demand for the producers of primary products, manufactured goods and services. However, there is still a limit to which the central bank can rely on a weak currency to stimulate AD without triggering other macroeconomic problems. Reduced income tax allows households to have more disposable income, increasing consumption (C). He has 23 years of teaching experience, and his students have won Cambridge Top in the World and Top in Malaysia awards in A Level Economics.
However, it is undeniable that efforts to slow down the appreciation of the Sing dollar or the slight depreciation undertaken in 2009 in order to boost net exports have contributed to higher imported inflation in Singapore. A selection of model answers to various 9, 15 and 25 mark questions. London WC1R 4HQ.
Cambridge International AS & A Level Economics: Model Essays is tailored to prepare students for Paper 2 and Paper 4 of the 2019-2021 Cambridge International AS & A Level Economics (9708) examination. - (30) AQA unit 5 Business Economics; Discuss 3 different Policies to Reduce Inequality(30) AQA Potential growth can happen through the expansion of the amount of output that could be produced if all resources are fully employed. Mr Koh is the founder and sole tutor at ThatEconsTutor, which specialises in helping students excel in Economics using his self-developed Parachute Concept approach. Economics Cafe provides economics model essays which are not confined to use by students taking economics tuition at the learning centre.
At mrbanks.co.uk, you can revise for your Economics exams. For example, the UK government’s plan to reduce unemployment benefits, drew widespread opposition and protests from many on the streets. On the other hand, expansionary FP involves reducing direct taxes (income and corporate tax) and increasing government expenditure. Want to learn how to write excellent essays like this one? (15). As a result, primary products tend to be normal necessity goods, with a YED value between 0 and 1. The model essays are specially written as answers to selected past year questions, and are supported with essay outlines and notes on how you can successfully compose convincing essays. Hence, a more rapid economic growth rate. Therefore, it would be wise for the government to tackle these root causes head on through such policies, which stand to be more effective. Market-oriented supply-side policies are effective in combating supply-side causes of weak EG. The number of sellers and buyers in every market has now increased dramatically. This is especially important when an economy is ‘overheating’ or facing too high levels of AD with supply-side constraints. Discuss how the above events would affect consumer expenditure on diet soft drinks and non-diet soft drinks. This is because with an appreciation of the currency, the price of exports increases in foreign currency while the price of imports decreases in local currency.
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