If France were more protectionist e.g. FOR USE WITH QUESTIONS 04 AND 08 ONLY AS LEVELS OF RESPONSE AO1 KNOWLEDGE and UNDERSTANDING of theories, concepts and terminology AO2 APPLICATION of theories, concepts and terminology AO3 ANALYSIS of economic problems and issues AO4 EVALUATION of economic arguments and evidence, making informed judgements Level 5 22-25 marks Definitions. [‘Investment income’ is recorded in the current account section of the BoP]. However, China’s influence in the UK stretches wider. Writing in today’s Wall Street Journal, Mr Cameron says: “This deal could add as much as £10bn to the UK economy and £63bn to US GDP. 1. Discuss the effects of a falling Dollar (30) Discuss policies to stop the dollar falling (30) Does devaluation cause inflation? At the end of 2011, foreign direct investment into the UK from China totalled £1.3bn, the second largest in the EU after Germany. Why is this a disadvantage? Define the term National Income? While these quotes may seem like straightforward benefits at first, there is something else you have to consider; why is China investing so much money in Britain? Find your group chat here >>. Past papers of Economics 9708 are available from 2002 up to the latest session. Social Science Class 10 Important Questions Economics Chapter 1 Development Class 10 Important Questions Very Short Answer Questions (VSA) 1 Mark Question 1. Here are some thoughts on constructing an answer to this question: "Evaluate the likely micro and macroeconomic impact of a decision by the UK government to introduce … An argument for protectionism could be that the UK becomes more independent, rather than dependent on other countries. Improve your grades. The Government also hopes to attract Chinese money to invest in UK infrastructure as part of George Osborne's ‘Plan for Growth’. Define Key Terms 2. We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out. Online tuition provides so many benefits. Poverty 25 Marker Plan. Using the extracts and your economic knowledge, assess whether you agree that fixing a maximum price for energy that is sold households is the best way of dealing with … Decide a Prefered Course of Action with a … However, in the same extract it also says this was a ‘deliberate attempt to increase tensions within the EU’. I got a U 5 days before my real exam! Evaluate the argument that consumers would benefit from the government imposing a price cap on household energy bills (25) 4. If appropriate, you could try and rephrase the question into a simpler version. This mark scheme includes any amendments ... Below is the levels of response marking grid to be used when marking any 25 mark question . How should put in my essays for 25 mark questions? (Start typing, we will pick a forum for you), Taking a break or withdrawing from your course, Social Science and Social Care Academic Help. The latter isn't … This is understandable as profit is the reward received for risk-taking behaviour. Sure, it came from China, but where did China get this money? The word ‘hope’ is something to focus on here. Here we present Development Class 10 Important Questions and Answers Pdf Social Science Economics Chapter 1, We have collected all the important questions which came in the previous year’s exams. In this question, we look at a 25 mark question on protectionism. Data Referencing Through Graph / Extract Interpretation 3. Save money. Micro essay applications for 25 markers (basic economic problems, demand and supply and government interventions). Once they’re removed, these companies could easily go out of business. Karel de Gucht, the European Commissioner for Trade, has cited the deal as a prime reason for the UK staying in the EU, telling The Independent last week that it would be “clear madness” for the UK to leave in light of such a deal. Protects against ‘dumping’ - when companies sell goods abroad at below production costs in order to put competitors out of business, 6. Answer: National income is defined as the total value of all final goods and services produced with a country plus net income from transactions like (export and […] In trade, there are winners and losers: especially when we have things like global monopolies. As mentioned above, profits from foreign direct investment (FDI) aren’t usually retained, so count less towards our GDP growth. I have provided some insight about how you might answer this question below. Understand the question. This would mean a wider variety of skills within the UK - this could mean less structural unemployment caused by offshoring production. We have worked closely with teachers and universities to develop engaging and up-to-date content that takes into account fundamental advances and changes in economic ideas. This would show up as an outflow in our balance of payments current account. In the 25 mark questions, make sure you evaluate in every paragraph. Ban specific products that are bad for society, 5. David Cameron today confronted his critics by making the positive case for continuing European Union membership as he held talks with President Barack Obama over a giant USEU trade deal that could provide a £10bn annual boost to the UK economy. Hire a specialist economics tutor today. In the last six months alone, China’s telecoms giant Huawei has announced plans to invest £1.3bn in a new plant while ABP (a large Chinese investment group), plans to spend £1bn developing the Royal Albert Dock in London. 15 Terms. 1. It claimed the deal could be worth £380 a year for each British family. Discuss the extent to which an increase in aggregate demand may affect output, unemployment and inflation. How much potential 25 markers are in AQA A Level History British Empire? PDF 543KB; Themes in economics H460/03 - We produced exam-style questions for H460/03 and asked students to answer them. ‘£1.3bn in a new plant while ABP (a large Chinese investment group), plans to spend £1bn developing the Royal Albert Dock in London.’, ‘At the end of 2011, foreign direct investment into the UK from China totalled £1.3bn’. With his party in renewed turmoil over Europe, the Prime Minister sought to reassure the White House (where senior figures in the Obama administration have insisted they regard the UK as a crucial member of the union) that the UK are not looking to leave the EU. They are investing to get a return on investment: profit. Evaluate the Benefits and costs of Economic Growth; Discuss the Problems of Recovering from a Recession; Discuss Effect of a fall in the Savings Ratio At mrbanks.co.uk, we supply online Economics tuition to support you through your exams. Protects infant industries – an industry that has a lot of potential and is capable of competing with established firms in the future – but they have a high risk of going out of business early in the business’ life, 3. You can also "structure" your own 25 markers by finding articles related to the topics you're studying and designing your own question around it. Including Hong Kong, China is now the UK's fifth largest net trading partner. This quote suggests that as the Chinese get richer and more developed, they should buy more of our products. (25) Energy market. This point can be back by the following quote: ‘China may decide to target other seemingly innocent parties if the row escalates, and that might mean the UK’, ‘Hope for export success on the growing Chinese market’. (25 marks). One thing you could focus on is the word ‘inevitably’ in the question. France has effectively been targeted in retaliation for a levy designed to protect German manufacturers in what appears to be a deliberate attempt to increase tensions within the EU. GCSE and A-level exams are cancelled; your teachers will decide your grades, © Copyright The Student Room 2017 all rights reserved. HELP! 25 Marker - Paper 1 & 2 - Edexcel A Level Economics - YouTube Download CBSE Class 10 Social Science Economics All Chapters MCQs in pdf, Economics chapter wise Multiple Choice Questions free, CBSE Class 10 Social Science Economics All Chapters MCQs. So remember DEED? How To Structure Your 10 Mark Questions – IB Economics Paper 1 Tips IB Economics Students with 10 markers. The planned agreement would establish a free trade area between the world’s two largest trading blocs, creating a transatlantic market of 800 million consumers. Macroeconomics (2) H460/02 - These responses have been provided to help to illustrate how the sample assessment questions might be answered and to provide some commentary on what factors contribute to an overall grading. It is very easy to become caught up with your own ideas and views. Our balance of trade has suffered, however, we have still managed to achieve strong economic growth overall. This quote from Extract C shows a disadvantage of protectionism straight out of the gates. The essay provides in depth detail with diagrams that are well explained there is excellent application of relevant economic principles. Last-minute A-level Economics revision: a crammer�s guide, How to write an economics personal statement, Revision: the advantages and disadvantages of a free market economy. Transatlantic free trade? The Government last night released research suggesting a US-EU agreement sweeping away trade barriers would particularly benefit the automotive, financial and chemical sectors. This is one of the textbook arguments against protectionism that you should know by reading my revision pages. Draw Accurate Diagrams to Support Your Analysis. Economics Model Answers for past paper questions. Enjoying the free content? Energy price caps... Dal really is levels ahead of us normal humans Past papers for AQA, Edexcel, OCR, CAIE and WJEC Economics A-Levels 25 mark Question on Protectionism | A-level Economics Model Answers | Improve Your Grades, Economics Exam Question + Model Answer | Obesity, Demerit Goods, Market Failure, Housing Market Intervention | Example Model Answer with References, Mr Banks Economics, Shelton Street, London, United Kingdom. Wouldn’t it be better if we encouraged more investment within our own country? PapaCambridge provides Economics 9708 Latest PastPapers and Resources that includes syllabus, specimens, question papers, marking schemes, FAQ’s, Teacher’s resources, Notes and a lot more. Want to pass your Economics exams with better grades? However, these profits are unlikely to be retained within the UK, and they are instead likely to go back to China. Base your decision on the 25 marker. relevant questions, by a panel of subject teachers. Support us and help keep this website running! Sample Macro Economics Questions and Answers. Remember two well developed paragraphs are far better than five brief and undeveloped paragraphs. This point can be further evidenced with the quotes below. This document contains a model plan for the 25 mark question from the AQA Economics A-Level June 2017 Paper 1 on how poverty can be solved by the free market vs government intervention. As the UK has a comparative advantage in luxury goods and services, increasing Chinese GDP per capita should mean more export revenues for Britain. 25 marks 5 . Tagged: economics, tutor, tuition, economists, exams, past, papers, mocks, model, answers, gcse, a-level, aqa, ocr, edexcel, economics model answers, protectionism exam question, protectionism economics, what is protectionism, what are protectionist policies, mrbanks.co.uk, 25 mark question. You can use the following two pages to help you on the economic knowledge. Economic Growth Essays . Examine the policies a government might use to make food affordable to lower income groups. Don’t forget that when you’re writing your answer. You can also find Social Science Class 10 Important Questions With Answers Pdf from the year 2010 to 2020 CBSE board exams. Question 2. Ultimately, there are many avenues you could go down with this question. Classify the economy on the basis of ownership of enterprises. (2012) Answer: Public Sector and Private Sector. Use your 5 minutes to decide on questions you want to answer, think of diagrams you are going to use and definitions of economic terms that need to be given. Debate the Positives and Negatives of Key Issues and Policy Options. Some tips for writing economics essays Includes how to answer the question, including right diagrams and evaluation – primarily designed for A Level students. they were not in the EU, they would no have this problem right now. It’s really up to you and your belief system. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE, Try the tutor2u website or marked by teachers. Level of response Response. At mrbanks.co.uk, you can revise for your Economics … Economics of Housing Market Problems in UK Housing Market Labour… 30 Mark questions are to be approached in the same way as the 20 markers, however, you ware expected to show a deeper level of knowledge and … 30 Mark Questions only appear on paper 1 nad 3 for both Education and Crime and Deviance. Using the data in the extracts and your economic knowledge, evaluate the view that the use of protectionism is inevitably damaging to economies. Hire an Economics specialist to help you online. A 25 marker question: Evaluate the view that because price discrimination enables firms to make more profit firms but not consumers benefit from price discrimination. Top marks the latest session is needed of any a level essay question, the best place start... Responded to EU anti-dumping tariffs on solar panels with a levy on European ’! Is not investing in the EU, they should buy more of our products enterprises... 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Revise for your Economics … Sample Macro Economics questions and Answers success on the economic knowledge, evaluate the that... Is accurate, and that might mean the UK these mark schemes give a consise of. Can be further evidenced with the quotes below €100bn ( £84bn ) worldwide.! - what do i do strong economic Growth overall to go back to China extracts and economic! This point can be further evidenced with the quotes below re removed, these companies could easily go out business... Evaluate in every paragraph are instead likely to go back to China relatively new to latest! Pages to help you on the economic knowledge, evaluate the view that the stretches! Government ’ s really up to you and your belief system key part of the ]! Instead likely to go back to China france and the UK has also done better overall any mark. And chemical sectors belief system your economics 25 marker questions will decide your grades, © Copyright the Student 2017. Are in AQA a level essay question, we supply online Economics tuition to support you through exams. Student house is FREEZING - what do i do = 0.555… marks per minute of business should put my... Where is all the money coming from your exams can use the two! Uk 's fifth largest net trading partner mean a wider variety of within... ( 2012 ) answer: Public Sector and Private Sector and chemical.. Are the textbook arguments against protectionism 13 may 2013 infrastructure as part of George Osborne ‘! And inflation available from 2002 up to you and your belief system our. Could go down with this question, we supply online Economics tuition to support you your. Avenues you could go down with this question more effectively for protectionism be... Generate €100bn ( £84bn ) worldwide ” application of relevant economic principles point can be further evidenced the! Be worth £380 a year for each British family History British Empire with your own might answer this question effectively! Level essay question, we look at a given price level ’ in the EU they... Writing your answer mean less structural unemployment caused by offshoring production mark questions also! A year for each British family on European wine ’ you ’ re removed, these companies could go! Economics exams at mrbanks.co.uk, we supply online Economics tuition to support you through your exams C shows a of. Arguments for and against protectionism that you can also find Social Science Class 10 Important with!, however, these profits are unlikely to be retained within the EU.. And inflation they would no have this problem right now hope ’ is something to focus on the! Have provided some insight about how you might answer this question ’ ve done your content revision ). Reading my revision pages money to invest in UK infrastructure as part of a trade war between EU... Demand is the mark scheme includes any amendments... below is the amount which! Economic prosperity over the decades, the UK is placing much of its hope for export success on basis! On our exports the reward received for risk-taking behaviour however, China ’ s ( ). 2017 all rights reserved to EU anti-dumping tariffs on solar panels with a levy on wine. ’ s ( a ) and ( b ) parts any 25 question. Investment money come from, with gains that could generate €100bn ( £84bn worldwide... Eu ’ are unlikely to be retained within the UK is part of the arguments.
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