Mid Course Preliminary Eco (1 Viewer)

[albertjai]

Hey my mid-course year 11 eco exam is in a couple of days

I'm stressing about the extended response thats going to be in my exam as it is worth 20marks of a 70mark exam. Anyone have any idea of what common economics 'extended response' questions that could come up in mid-course prelim?

any help is appreciated, thanks.

 

[~Claire~]

hey! mines in a few days too

my teacher told us that discussing the efficiency of firms is commonly asked in extended responses. However, that is all he mentioned, sorry i couldn't be of more assistance!!

good luck

 

[hairspray]

The teacher might ask you to compare the similarities and difference between Australia and one other economy

 

[Aerath]

Good luck.
Our half yearly exams are in two weeks.

 

[munchiecrunchie]

From experience, its not much help speculating about what an extended response is going to be about, because if your hunch is wrong, you could land yourself into a sticky situation.

My advice is to just know all your content really well, that way you can answer anything they give you. And to make your answer stand out, try and relate it to current issues, or real life examples.

Another tip: make sure you're actually answering the question.

 

[michael1990]

The teacher might ask you to compare the similarities and difference between Australia and one other economy

I don't think they will ask for you to 'compare similarities and difference between Australia and one other economy' as you haven't done the HSC topic yet. 'Australia in the global economy', i don't think you would have the base knowledge. That question you put forward sounds a little more HSC like
'Analyse the standard of living of Australia with close reference to an economy other than Australias.'

 

[x.Exhaust.x]

The Circular Flow of Income may pop up? Other than that, don't guess...Study as hard as you can by going through the dotpoints whilst mastering each point.

 

[michael1990]

The Circular Flow of Income may pop up? Other than that, don't guess...Study as hard as you can by going through the dotpoints whilst mastering each point.

LOL

I just did that today.

I did the um... Mulitplier concept.

 

[x.Exhaust.x]

LOL

I just did that today.

I did the um... Mulitplier concept.

Haha nice . We haven't learned the multiplier concept yet (haven't seen it so far in the preliminary syllabus).

 

[michael1990]

Haha nice . We haven't learned the multiplier concept yet (haven't seen it so far in the preliminary syllabus).

The muliplier concept isn't in prelim.

But the circular flow model is. Which is part of the multiplier concept.

John Maynard Keynes theory!
Look it up and talk about it in the lesson you do the circular flow model. It would be like WOW! he knows heaps LOL

 

[Continuum]

Our teacher kind of gave us the impression that the Circular Flow of Income model would most likely be part of the short answers. As for common extended response questions, I'll just give you the ones that we were given:

• Discuss the nature of the economic problem and explain the role that individuals, businesses and governments have in addressing it.
• Discuss the goals of firms and explain how firms can achieve internal and external economies of scale in production.

You probably should note that this exam covered only the first 2 topics, since oru half-yearlies were relatively early in that it was at the end of last term.

 

[albertjai]

Our teacher kind of gave us the impression that the Circular Flow of Income model would most likely be part of the short answers. As for common extended response questions, I'll just give you the ones that we were given:

• Discuss the nature of the economic problem and explain the role that individuals, businesses and governments have in addressing it.quote]
  
  thanks, that was the exact question LOL in my exam today

 

[limecookie]

The teacher might ask you to compare the similarities and difference between Australia and one other economy

yeah, that was our extended response question.