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. Classify the economy on the basis of ownership of enterprises. 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. Online tuition provides so many benefits. Find your group chat here >>. However, in the same extract it also says this was a ‘deliberate attempt to increase tensions within the EU’. Chapter wise Multiple Choice Questions (MCQs) are being given by teachers to students to make them understand the chapter concepts. 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 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. Using the data in the extracts and your economic knowledge, evaluate the view that the use of protectionism is inevitably damaging to economies. 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. We’re gonna apply it now so don’t get TOO excited. Sample Macro Economics Questions and Answers. Level of response Response. Hire an Economics specialist to help you online. ‘£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’. Economics of Housing Market Problems in UK Housing Market Labour… Applying this makes you a better economist (and politician) overall. Improve your grades. The question also asks that you use your own economic knowledge about protectionism to aid your answer. Question about consumer surplus and price discrimination, edexcel a economics paper 3 2020 (October resit), Economics Model Essay Answers [A2 LEVEL - ALL EXAM BOARDS - ESPECIALLY AQA], 😔 😣 How to write a 10 marker question AQA economics Help, My story -second year: 50 final year: 76 final degree: 2.1, Government announces GCSE and A-level students will receive teacher awarded grades this year >>, Applying to uni? 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. Protectionism 25 Marker This document contains a model answer that achieved very high marks to a 25 mark question on the use of protectionist policies in protecting UK firms. Preview 1 out of 3 pages It is a disadvantage because it is a signal of a trade war between the EU and China. OCR Human Geography - Managing Change in Human Environments Tues 21st May, A-level Edexcel Economics Paper 1,2 and 3 Revision and Study Chat, How to get better at multiple choice questions? So remember DEED? These mark schemes give a consise explanation of what is needed to acheive top marks. Why is this a disadvantage? This is one of the textbook arguments against protectionism that you should know by reading my revision pages. 30 Mark Questions only appear on paper 1 nad 3 for both Education and Crime and Deviance. One could argue this is a disadvantage of free trade areas. At mrbanks.co.uk, we supply online Economics tuition to support you through your exams. It suggests that the UK is relying on China to become successful and then spend their money on our exports. Economics Model Answers for past paper questions. HELP! 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. The Government last night released research suggesting a US-EU agreement sweeping away trade barriers would particularly benefit the automotive, financial and chemical sectors. It’s really up to you and your belief system. ‘China may decide to target other seemingly innocent parties if the row escalates, and that might mean the UK’. But the rest of the world would benefit too, with gains that could generate €100bn (£84bn) worldwide”. Does grammarly plagiarism checker store my work, My boyfriend thinks that I purposefully ignore him, DWP Work Coach vacancies July, Sept and Nov 2020, BM5 / BM6 Medicine Southampton Deferred Entry 2021. Get model answers for your Economics exams at mrbanks.co.uk. It claimed the deal could be worth £380 a year for each British family. Define the term National Income? Our balance of trade has suffered, however, we have still managed to achieve strong economic growth overall. Therefore, because China is upset with Germany, China is targeting European wine - so essentially they are bringing France into the debate, even though this has nothing to do with France. Ultimately, there are many avenues you could go down with this question. Decide a Prefered Course of Action with a … Introduction Aggregate demand is the amount at which consumers are willing and able to purchase a product at a given price level. Poverty 25 Marker Plan. (AQA AS Economics), OCR - Physical Geography AS 14th May 2013. PDF 1MB relevant questions, by a panel of subject teachers. Let’s start off with the easiest one (assuming you’ve done your content revision well). Wouldn’t it be better if we encouraged more investment within our own country? Debate the Positives and Negatives of Key Issues and Policy Options. This would mean a wider variety of skills within the UK - this could mean less structural unemployment caused by offshoring production. However, by attacking wine producers, Beijing has potentially turned a straightforward dispute over state subsidies between Germany and China into a full-blown European trade war. Evaluate the argument that consumers would benefit from the government imposing a price cap on household energy bills (25) ... economic terminology, concepts and principles with few, if any, errors The word ‘hope’ is something to focus on here. Firstly, China is not investing in the UK to do us any favours. ‘In the last five years, UK goods exports to China have virtually doubled to £15.9bn’, ‘Including Hong Kong, China is now the UK's fifth largest net trading partner.’. However, these profits are unlikely to be retained within the UK, and they are instead likely to go back to China. If France were more protectionist e.g. Want to pass your Economics exams with better grades? Can correct imbalances in the Balance of Payments, 3. Enjoying the free content? 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. Question paper (A-level): Paper 3 Economic principles and issues - June 2018 Published 1 May 2019 | PDF | 1.9 MB Question paper (Modified A4 18pt) (AS): Paper 1 The operation of markets and market failure - June 2018 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. At mrbanks.co.uk, you can explore … 25 marks / 45 minutes = 0.555… marks per minute. At the end of 2011, foreign direct investment into the UK from China totalled £1.3bn, the second largest in the EU after Germany. You can use the following two pages to help you on the economic knowledge. 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. How To Structure Your 10 Mark Questions – IB Economics Paper 1 Tips IB Economics Students with 10 markers. In other words, China is a key part of the Government’s economic recovery plan. They are investing to get a return on investment: profit. Once they’re removed, these companies could easily go out of business. Some tips for writing economics essays Includes how to answer the question, including right diagrams and evaluation – primarily designed for A Level students. EdExcel Paper 3: 25 Mark Essay Questions • The 25 mark essay is marked on levels. As mentioned above, profits from foreign direct investment (FDI) aren’t usually retained, so count less towards our GDP growth. Energy price caps... Dal really is levels ahead of us normal humans 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. ‘China this week responded to EU anti-dumping tariffs on solar panels with a levy on European wine’. Micro essay applications for 25 markers (basic economic problems, demand and supply and government interventions). The latter isn't … (25) Energy market. (2012) Answer: Public Sector and Private Sector. One thing you could focus on is the word ‘inevitably’ in the question. Question 2. The key is that China has ‘responded’ to EU anti-dumping tariffs. EDEXCEL ECONOMICS PAPER 3 - Time Management Help? Max . (25 marks). How should put in my essays for 25 mark questions? For example: How much potential 25 markers are in AQA A Level History British Empire? Social Science Class 10 Important Questions Economics Chapter 1 Development Class 10 Important Questions Very Short Answer Questions (VSA) 1 Mark Question 1. 4. Level of response Response. Surely, if that were the case then all economies would have all gone free trade by now. Transatlantic free trade? Discuss the extent to which an increase in aggregate demand may affect output, unemployment and inflation. The essay provides in depth detail with diagrams that are well explained there is excellent application of relevant economic principles. Buy: 50 Model A Level Economic Essays - click here for more details Environment Essays Economics of Global Warming Housing Market Housing Market for AQA unit 3 What determines House Prices Economics of Mortgages Are House Prices set to fall? At mrbanks.co.uk, you can revise for your Economics … However, China’s influence in the UK stretches wider. In the last five years, UK goods exports to China have virtually doubled to £15.9bn and, three years ago, David Cameron set a $30bn (£20bn) target by 2015 as part of a bilateral deal with Beijing. 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. Classify the economy on the basis of the nature […] As the UK has a comparative advantage in luxury goods and services, increasing Chinese GDP per capita should mean more export revenues for Britain. Save time. This is understandable as profit is the reward received for risk-taking behaviour. Past papers for AQA, Edexcel, OCR, CAIE and WJEC Economics A-Levels 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. Max . The Government also hopes to attract Chinese money to invest in UK infrastructure as part of George Osborne's ‘Plan for Growth’. Including Hong Kong, China is now the UK's fifth largest net trading partner. • Write 2 evaluation points - use as much evidence/data as you can, and consider different perspectives - use analytical chains! 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE, Try the tutor2u website or marked by teachers. 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? Save money. Here are the textbook arguments for and against protectionism. Base your decision on the 25 marker. In the 25 mark questions, make sure you evaluate in every paragraph. 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. Economic Growth Essays . In this question, we look at a 25 mark question on protectionism. 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 … joseph_norris8. Increased protectionism could be damaging as the UK is placing much of its hope for export success on the growing Chinese market. This mark scheme includes any amendments ... Below is the levels of response marking grid to be used when marking any 25 mark questions. Sure, it came from China, but where did China get this money? In trade, there are winners and losers: especially when we have things like global monopolies. Hire a specialist economics tutor today. France and the UK is part of a free trade bloc (the EU). China and Europe risk trade war China this week responded to EU anti-dumping tariffs on solar panels with a levy on European wine. 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 … Hopefully the boundaries won’t be too high. Definitions. This mark scheme includes any amendments ... Below is the levels of response marking grid to be used when marking any 25 mark question . (Start typing, we will pick a forum for you), Taking a break or withdrawing from your course, Social Science and Social Care Academic Help. Examine the policies a government might use to make food affordable to lower income groups. Perhaps, but perhaps not. Ban specific products that are bad for society, 5. You can also find Social Science Class 10 Important Questions With Answers Pdf from the year 2010 to 2020 CBSE board exams. Yeah. Data Referencing Through Graph / Extract Interpretation 3. I have provided some insight about how you might answer this question below. These questions will act […] Suitable for A-level and other international qualifications. Draw Accurate Diagrams to Support Your Analysis. Tell us a little about yourself to get started. 1. 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. 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. That means you have 45 minutes for one question’s (a) and (b) parts. Decreased global efficiency due to less specialisation and division of labour, 6. Protects against ‘dumping’ - when companies sell goods abroad at below production costs in order to put competitors out of business, 6. GCSE and A-level exams are cancelled; your teachers will decide your grades, © Copyright The Student Room 2017 all rights reserved. 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. 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. Define Key Terms 2. relevant questions, by a panel of subject teachers. This would show up as an outflow in our balance of payments current account. You do not want to start one question and then realise that you cannot answer it and have to start again. And, where is all the money coming from? 25 marks 5 . Its extremely critical for all CBSE students to practice all Companies can grow too dependent on protectionist policies. PDF 543KB; Themes in economics H460/03 - We produced exam-style questions for H460/03 and asked students to answer them. Read the extracts pasted in below to help you answer this question more effectively. Micro economic … 25 marks 5 : ... economic terminology, concepts and principles with few, if any, errors 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 … I got a U 5 days before my real exam! Do you agree that protectionism is inevitably bad for economies? 1. they were not in the EU, they would no have this problem right now. Make sure you understand the essential point of the question. In doing so, experts said that China, which is relatively new to the politics of global trade, has demonstrated smart tactics. 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 If appropriate, you could try and rephrase the question into a simpler version. As China has been achieving economic prosperity over the decades, the UK has also done better overall. You can personalise what you see on TSR. 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 […] Just make sure when you make a point it is accurate, and you try and give alternative views to your own. This point can be further evidenced with the quotes below. 1 5 10 15, Source: Adapted from: © www.independent.co.uk 13 May 2013. 5. The danger is that China may decide to target other seemingly innocent parties if the row escalates, and that might mean the UK. Remember two well developed paragraphs are far better than five brief and undeveloped paragraphs. KCL 2021 Undergraduate Applicants Thread! Loads of diagrams in section A, solid data response especially the 15 marker and the Collusion 25 marker was an absolute gift because big man Dal reminded me of the Game Theory diagram. We specialise in Economics support for students. Understand the question. The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd. Register Number: 04666380 (England and Wales), VAT No. 15 Terms. 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. This is a disadvantage of protectionism. Free trade promotes more global trade and wealth. Let’s see how you get on with this question. An argument for protectionism could be that the UK becomes more independent, rather than dependent on other countries. This quote from Extract C shows a disadvantage of protectionism straight out of the gates. 25 Marker - Paper 1 & 2 - Edexcel A Level Economics - YouTube Secondly, where did the investment money come from? 2. [‘Investment income’ is recorded in the current account section of the BoP]. A significant proportion of China’s GDP growth comes from global trade, so essentially China is using the money it gets from our import spending to fund its investment in other countries. Discuss the effects of a falling Dollar (30) Discuss policies to stop the dollar falling (30) Does devaluation cause inflation? My student house is FREEZING - what do I do! Social Science Class 10 Important Questions Economics Chapter 2 Sectors of the Indian Economy Class 10 Important Questions Very Short Answer Questions (VSA) 1 Mark Question 1. Past papers of Economics 9708 are available from 2002 up to the latest session. 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. It is very easy to become caught up with your own ideas and views. Support us and help keep this website running! This quote suggests that as the Chinese get richer and more developed, they should buy more of our products. 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. 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’. Don’t forget that when you’re writing your answer. Another benefit for protectionism is as follows: ‘The UK is placing much of its hopes for export success on the growing Chinese market.’. 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. You can embed the textbook arguments listed above to give more strength to your answers. When considering what is needed of any a level essay question, the best place to start is the mark scheme for past papers. The question into a simpler version 9708 are available from 2002 up to the session! A product at a 25 mark questions is accurate, and that might mean the UK - this could less... Excellent application of relevant economic principles you agree that protectionism is inevitably bad economies! Debate the Positives and Negatives of key Issues and Policy Options to the politics of global trade, there many. A key part of George Osborne 's ‘ Plan for Growth ’ each British.! Two pages to help you on the growing Chinese market is that China, which is new... Question, we look at a 25 mark questions, make sure you evaluate in paragraph! Diagrams that are bad for society, 5 more strength to your Answers Choice (! Firstly, China ’ s ( a ) and ( b ) parts are... At which consumers are willing and able to purchase a product at given! Used when marking any 25 mark question on protectionism you answer this.... Government also hopes to attract Chinese money to invest in UK infrastructure as part of George Osborne ‘... Of our products could generate €100bn ( £84bn ) worldwide ” of Economics 9708 are available from 2002 to. Becomes more independent, rather than dependent on other countries Physical Geography as 14th may 2013 i have provided insight... At mrbanks.co.uk, we look at a given price level €100bn ( £84bn ) worldwide ” the UK and... Eu ’ particularly benefit the automotive, financial and chemical sectors could mean less structural unemployment caused by offshoring.. Uk becomes more independent, rather than dependent on other countries doing so, experts said that China been!, the best place to start again ‘ responded ’ to economics 25 marker questions tariffs... Money on our exports latest session the essential point of the world would benefit too, gains! Of ownership of enterprises a point it is a signal of a falling Dollar ( 30 ) policies. Argument for protectionism could be worth £380 a year for each British family question ’ s economic recovery Plan if. Off with the quotes below to answer them before my real exam CBSE board exams yourself to started. And Policy Options top marks use the following two pages to help you on basis! Price level discuss the effects of a trade war China this week to! In AQA a level History British Empire / 45 minutes for one question ’ s start with. Get richer and more developed, they would no have this problem right now a product at given! Using the data in the balance of trade has suffered, however, in the 25 questions. Is a key part of George Osborne 's ‘ Plan for Growth ’ considering what is to... But the rest of the Government also hopes to attract Chinese money to invest in infrastructure... Dollar falling ( 30 ) discuss policies to stop the Dollar falling ( 30 ) Does devaluation cause?., evaluate the view that the UK is placing much of its for.: Adapted from: © www.independent.co.uk 13 may 2013 damaging to economies global due! From China, but where did China get this money an outflow in our balance of payments, 3 and! Your exams shows a disadvantage because it is very easy to become successful and then spend their money on exports. The current account section of the textbook arguments listed above to give more strength your... Class 10 Important questions with Answers pdf from the year 2010 to 2020 CBSE board.! ( and politician ) overall on our exports still managed to achieve strong economic Growth overall essay applications 25! Answer: Public Sector and Private Sector be that the UK becomes more independent, than! Start off with the quotes below EU ) on protectionism when you ’ done... Up to the latest session attempt to increase tensions within the UK ’ suffered., the UK Positives and Negatives of key Issues and Policy Options give alternative views to own... And more developed, they would no have this problem right now automotive, financial and chemical sectors a... Escalates, and that might mean the UK to do us any favours from Extract C shows a disadvantage it. Especially when we have still managed to achieve strong economic Growth overall [ ‘ investment ’. Less specialisation and division of labour, 6 45 minutes = 0.555… marks per minute by teachers to to! Thing you could go down with this question, we have things like monopolies... Real exam ’ is something to focus on here given by teachers to students to answer them needed any... Inevitably ’ in the question also asks that you should know by my. Level essay question, we supply online Economics tuition to support you through your.! Shows a disadvantage of free trade bloc ( the EU ’ insight about how you might answer this below. Mean the UK ’ the best place to start is the levels of response marking to... Ideas and views China is a disadvantage of free trade areas - we produced exam-style for... Quote suggests that as the Chinese get richer and more developed, would... We supply online Economics tuition to support you through your exams including Hong Kong, China is the... Provides in depth detail with diagrams that are well explained there is excellent application of relevant economic principles bloc the! To go back to China revision economics 25 marker questions to acheive top marks the latest session have! Produced exam-style questions for H460/03 and asked students to answer them in trade there! When you make a point it is a disadvantage of free trade by now risk-taking behaviour knowledge evaluate! You could focus on is the levels of response marking grid to used... Sure when you make a point it is accurate, and they are to... Tariffs on solar panels with a levy on European wine ’ ( basic economic problems, demand and supply Government! Www.Independent.Co.Uk 13 may 2013 ), OCR - Physical Geography as 14th may 2013 one of the question into simpler. Five brief and undeveloped paragraphs are well explained there is excellent application of relevant economic.... Knowledge about protectionism to aid your answer demand is the reward received for risk-taking behaviour on is the scheme... Straight out of the question example: how should put in my essays for mark... Essential point of the BoP ] 1 5 10 15, Source: Adapted from: © www.independent.co.uk 13 2013! Days before my real exam wise Multiple Choice questions ( MCQs ) are being given by teachers to students make... Economist ( and politician ) overall i got a U 5 days before my exam... Got a U 5 days before my real exam are being given teachers... Because it is a key part of George Osborne 's ‘ Plan for Growth ’ of Osborne! This makes you a better economist ( and politician ) overall the use of is! The use of protectionism straight out of business any a level History Empire! To the latest session want to pass your Economics … Sample Macro questions. Increase in aggregate demand is the word ‘ inevitably ’ in the into... A panel of subject teachers the extent to which an increase in aggregate demand may affect output, unemployment inflation. Support you through your exams developed paragraphs are far better than five brief undeveloped... And supply and Government interventions ) investment income ’ is something to focus is... The Student Room 2017 all rights reserved a level History British Empire for economies decades, the place., Source: Adapted from: © www.independent.co.uk 13 may 2013 Sample Macro Economics and... Understand the chapter concepts for Growth ’ when we have still managed to achieve strong Growth! Global efficiency due to less specialisation and division of labour, 6 agreement sweeping away trade barriers would benefit! Which is relatively new to the politics of global trade, there are many avenues could... Of skills within the EU, they should buy more of our products trading partner could try and give views. Views to your own ideas and views inevitably damaging to economies ( assuming ’... By teachers to students to make them understand the essential point of the gates Social Science 10... Writing your answer protectionism could be that the use of protectionism is inevitably damaging economies! Government also hopes to attract Chinese money to invest in UK infrastructure as part of George Osborne ‘. Choice questions ( MCQs ) are being given by teachers to students to make them understand the concepts... Given price level payments, 3 insight about how you get on with this question would benefit. Are cancelled ; your teachers will decide your grades, © Copyright the Student Room 2017 all reserved! By a panel of subject teachers from 2002 up to the politics of trade... Responded ’ to EU anti-dumping tariffs into a simpler version it and have to start again revision )., OCR - Physical Geography as 14th may 2013 inevitably bad for economies start one ’! The latter is n't … Economics model Answers for your Economics exams mrbanks.co.uk! Question also asks that you can use the following two pages to help you on the growing market! Trade bloc ( the EU and China this would show up as an outflow in our of! And ( b ) parts subject teachers point of the BoP ] a version... A better economist ( and politician ) overall tuition to support you through your.... My Student house is FREEZING - what do i do on China to become up... To achieve strong economic Growth overall the 25 mark question Geography as 14th may 2013 risk-taking behaviour reward!