2001 past hsc (1 Viewer)

[darshil]

Hi economists,
I have started doing the past papers and just wanted to know how my answers are. I am attaching them as a word document. I self marked them but I just never know if I am going to easy/to harsh ( I dont know how teachers do it!)

The main concerns are:
1) Am i following directive terms (especially with the last one [Analyse])
2) Am i only supposed to write according to the lines (what if i am writing more than the lines provided)

Thanks for the help, I hold deep respect and appreciation in my heart.

 

[darshil]

Hi WithoutWings, i did and the band 5/6 answers sometimes do not correlate with the marking scheme. That was the uncertainty that led me to post it online. Thanks for your reply!

 

[munchiecrunchie]

Hi there,

reading your work and I have the following thoughts:

Question 21

a) good.

b) I don't think you've gone into enough depth to get the full marks here. Even though theres only 2 marks, the verb used is DISCUSS, and so i think you need to be more detailed in terms of the problems that domestic producers face (eg more price and quality competitive?). Also, with your second point - make sure you call it "dumping". I would give you 1 for this.

c) --> excellent stuff.

d) I would give you a 4 for this one. I think you could possibly give your explanation a little more depth.

Overall your answers are excellent. Hope this helps.

 

[darshil]

Thank you my friend, I really appreciate it. Every bit helps! You know the funny thing though: in the standards package no one "discussed" for 21b) yet it was in the band5/6 section. But dont worry, that was just an anomaly and it is not a reason not to follow the directive term.

How is this for 21b):
• Firstly to protect domestic infant industries by shielding them from international competition. This allows them to expand domestically and achieve large economies of scale. However it increases the prices of goods for domestic consumers.
• Secondly to prevent dumping which is when international firms sell below production price. This ensures domestic market stability. However protection against dumping must be justified otherwise retaliation may be taken.

Thank you!