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VictoryAdam
Taking Up Economics

I'm probably being absolutely mad but I'm in 6th year and I'm about to take up economics. It's not an option in my school but a teacher offered me 1 on 1 teaching in the subject if I was interested, so I said I would as a backup if one of my other exams don't go amazing on the day. Any advice on which topics to really focus on in order to maximise the amount of questions I can answer on the day? (I also do HL Business if it makes a difference)


8 Comments
paulinabutkute
definitely elasticity, supply and demand and costs, revenue and profit. they seem to come up every year. there may be more but i'm only in 5th yr and my teacher's quite bad so can't tell you more than that
PineappleMuncher
Definitely supply and demand with elasticity (Always LQ number 1), then LQ2 is always market structures with costs revenue and profit and LQ3 is always a factor of production. Question 4 you can choose from 5 different questions which are all mixed topics.
jonezy
jonezy
National Income and International Trade is a definite question which have elemnets of unit 7 in business i would reccomend them , market structures , elasticity and supply and demand
123abc
123abc
elasticity, market structures, supply and demand
geno123
geno123
there are no guaranteed questions
Mat2001
Mat2001
No guaranteed questions yes, but a guaranteed Question 1, 2 and 3 which always seem to follow a pattern. Q1 is always demand and supply, elasticities, producer, consumer etc. etc. Q2 always a market, there are 4, learn them all as questions rarely come up on a single market only, most times they ask you to compare them etc. etc. Q3 Factor of Production // Costs // Sometimes Economic Theorists etc. etc. If you get the common papers, the yellow ones, it goes back to 2003? I think, just do every single one from evey year and youll se a pattern and general questions which tend to come up. And then fill in some other topics, I'd say international trade, banking and inflation are dut to show up and something on the Govt always always comes up. You can get it up to H1 standard if you jsut keep working at it! Stay up to date with Brexit, CSO data etc. and ask your teacher for help!
Mat2001
Mat2001
Oh the businessguys.ie has amazing notes on everything you need for economics
Sean Casey
Thomas Aquinas (1225–1274) taught that high prices in response to high demand is theft. Main articles: Thomas Aquinas, Scholasticism, Duns Scotus, Ibn Khaldun, Muqaddimah, and Islamic economic jurisprudence Thomas Aquinas Thomas Aquinas (1225–1274) was an Italian theologian and economic writer. He taught in both Cologne and Paris, and was part of a group of Catholic scholars known as the Schoolmen, who moved their enquiries beyond theology to philosophical and scientific debates. In the treatise Summa Theologica Aquinas dealt with the concept of a just price, which he considered necessary for the reproduction of the social order. Similar in many ways to the modern concept of long run equilibrium, a just price was just sufficient to cover the costs of production, including the maintenance of a worker and his family. Aquinas argued it was immoral for sellers to raise their prices simply because buyers had a pressing need for a product. Aquinas discusses a number of topics in the format of questions and replies, substantial tracts dealing with Aristotle's theory. Questions 77 and 78 concern economic issues, primarily what a just price might be, and the fairness of a seller dispensing faulty goods. Aquinas argued against any form of cheating and recommended always paying compensation in lieu of good service[clarification needed]. Whilst human laws might not impose sanctions for unfair dealing, divine law did, in his opinion. This should sort you out glad I could help x
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