Exam Kit (Sample)
A.HKDSE Exam Format
Paper 1 / Paper 2 / School-based Assessment(Deferred to 2019)
(i.e., S.4 in 2016/17)
Question types / Multiple-choice / Short questions and structured/essay-type questions / 1. News commentary
2. Essay/reports
Coverage / CompulsoryPart / Part 1:
CompulsoryPart / Part 2:
ElectivePart
Section A / Section B / Section C
No. of questions / 45 / 8-10 short questions / 3-4 structured/
essay-type questions / A choice of one out of two electives / Complete 2 tasks during S5 and S6
Mark allocation / All questions carry equal marks / 50 marks / 54 marks / 16 marks / Each task carries equal marks
Duration / 1 hour / 2 hours and 15 minutes
Weighting* / 25% / 60% / 15%
(*Starting from the 2019 year of examination, school-based assessment will constitute 15% of the final subject mark. Before that, the public exam result constitutes 100%, i.e., 30% from Paper 1 and 70% from Paper 2, of the final results.)
B.Revision strategies
1.Set your own revision schedule
You should start revisingas early as possible. To make your revision effective, a revision schedule is a must.
In setting a revision schedule, you should pay attention to the following:
The time allocated to each topic depends on the importance of the topic and your understanding of the topic.
Allocate time for rest between revision sections.
Be realistic and make adjustments for unexpected events, e.g., sickness or important social functions.
2.Revise all topics
Since Paper 1 and Part 1 of Paper 2 cover every topic in the Compulsory Part of the syllabus, you should revise all topics in the Compulsory Part.
If there is not enough time, concentrate on key concepts (e.g., those which are frequently tested on public exams) first.
3.Memorise key definitions and formulae
Some definitions (e.g., opportunity cost, the law of demand, the law of diminishing returns) and formulae (e.g., MP, AP and TP; unemployment rate) are frequently asked in public exams.
You may be asked to give the definitions or formulae for these concepts.
You may need them to support the answers to questions requiring explanation and evaluation.
Therefore, you should memorise the key definitions and formulae.
4.Learn to illustrate
In public exams, candidates are often asked to explain or illustrate their answers by supplying diagrams, data, examples, etc. Therefore, during your revision, you should learn how to illustrate your ideas, in particular, how to draw a well-labelled diagram.
For example, you should be careful with the labelling of axes, areas and curves in supply-demand diagrams. This set of skills can be practised when you prepare your own set of notes (see Point 8 below).
5.Practise applying what you have learned
Since a number of questions are based on the application of economic theories to the real world, you should learn how to apply economic theories in your daily life.
Therefore, you should pay attention to current issues in local and international economic issues, e.g., the Budget, national income and employment statistics as well as other important social events.
Before applying theories, you should understand them thoroughly (assumptions, conclusions and limitations, etc).
6.Follow the trends
You should practise doing past exam questions to familiarise yourself with the format and style of public exam questions. (You may check ‘Exam Trends’ in each chapter to see related past exam questions for each section.)
7.Learn from mistakes
When studying past exam questions, you should
check your answers against the suggested answers provided by the Hong Kong Examinations and Assessment Authority (HKEAA).
read the annual reports published by the HKEAA for common errors committed by other candidates. This helps you avoid these mistakes.
8.Prepare your own notes
You may prepare your own set of revision notes.
The notes should be written in a way which is easy to read and memorise, e.g., point-form notes, flow charts, concept map, etc.
9.Lead a healthy life
You should maintain a balanced diet, get enough rest and exercise regularly. This is very important as your health affects the effectiveness of revision.
10.Relax
Panicking does not help. If you feel emotionally overwhelmed during the revision, stop for a while and seek help from parents, teachers and friends.
C.Answering techniques
Paper 1 (Multiple choice questions)
1.Study the question carefully
Before choosing their answers, candidates should study the questions carefully. They should pay attention to key words by underlining or circling them (see the table in Point 3 of Paper 2).
2.Choose the best answers
Candidates should read all the options carefully before they choose. It is possible that more than one option makes economic sense. In this case, candidates should choose the best answer, not just correct answers.
3.Allocate your time wisely
Remember each question carries an equal mark. If a question is difficult or time-consuming, candidates can skip it and go to the other questions. But candidates should make sure they remember to go back to the skipped questions by marking reminders on the answer sheet with a pencil.
4.Guess wisely
Even if candidates are unable to select the best answer in a question, they should not leave the question unanswered. Instead, they should make an educated guess. For example, they can eliminate the wrong options to improve their chance of arriving at the correct answer.
Paper 2 (Short questions and structured / essay questions)
1.Survey the questions
Candidates should read through questions quickly to get some idea of the level of difficulty for each question. After this, they can plan the order in which they will answer questions, beginning with the easiest question. Answering questions sequentially is not necessary.
2.Allocate your time wisely
By looking at the mark allocation, candidates can plan the amount of time allocated to each question. The amount of time should be proportional to the marks allocated. Moreover, candidates should leave some time for checking their final answers.
3.Study the question carefully
Before writing down their answers, candidates should study the questions carefully. They should pay attention to key words by underlining or circling them. They should answer the question according to what it requires.Refer to the following table for details.
Key word / Requirement / Example(s)State/Give/List/Define / Write down the terms, definitions, factors, etc, asked in the question / a.Define opportunity cost.
b.List TWO causes of income inequality in an economy.
Compare / Point out the similarities and differences between different things (e.g., concepts, situations, etc.) / Compare the return of a shareholder with that of a bondholder.
Explain / Make something clear (e.g., concepts, statements, etc.) / a.Explain TWO advantages of a public limited company over a private limited company.
b.Explain how an increase in a country’s private consumption expenditure would affect its visible trade balance.
Key word / Requirement / Example(s)
Illustrate / Make something clear, usually with data, diagrams, examples, etc / a.The following table shows a factory’s production data :
Number of workers absent from work / Decrease in output (units)
1 / 20
2 / 50
3 / 90
4 / 140
5 / 200
Use the above data to illustrate the law of diminishing marginal returns.
b.Illustrate with examples whether a monopolist faces competition.
With the aid of diagram, explain/ illustrate / Use a well-labelled diagram to make something clear / With the aid of a diagram, explain how an increase in the number of children will affect the school fees of private schools.
Calculate / Find the answer and, if necessary, show your steps / Country X has a labour force of 10 million in which 50,000 workers are searching for jobs in a particular year. Calculate the unemployment rate in this country.
Prove/ Derive/
Show that / Use what is given to reach the conclusion specified in the question / a.i.What are the price and quantity transacted before and after the increase in supply?
ii.Base on the answer in (i), show that the demand for Good A is inelastic.
Evaluate/Comment / Give your assessment based on your knowledge or your answer to earlier parts of the question / a.The following shows the labour requirement for one unit of
Good A and one unit of Good B in Country X and Country Y, respectively.
Good A / Good B
Country X / 2 / 2
Country Y / 4 / 10
Suppose the terms of trade are 1 unit of B to 2 units of A.
i.Show that both countries can benefit from trade.
ii.Trade between countries is impossible when technologies differ among countries. Based on your answer in (i), comment on the validity of the above statement.
b.Globalisation only benefits developed countries. Evaluate this statement.
4.Keep answers concise and precise
The length of the answer to a question should vary with the mark allocated to it. Candidates should avoid writing too much for a question that has one or two marks.
5.Supply necessary details
As shown in the table in Point 3, many questions require more than just writing definitions, listing factors, etc.:
a.In explanation or illustration-type questions, candidates are required to provide reasons, data, etc., to support their answers.
b.In calculation-type questions, candidates may be required to show the steps involved in arriving at the answers.
c.In proof or derivation-type questions, candidates are required to show indetail thesteps they used to reach their conclusions.
d.In evaluation-type questions, candidates are required to make a judgment based on the information provided and their economics knowledge.
6.Draw diagrams carefully
Some questions require candidates to supply diagrams to help explain or illustrate their answers. Even if the questions do not require them to draw one, they should do so if diagrams can help in their explanation. When diagrams are drawn, they should be drawn with care:
a.Make sure details (e.g., vertical and horizontal axes, labels, shaded areas, etc.) are correct.
b.Keep the diagrams clear and tidy. Since candidates may need to correct the diagrams from time to time, they should draw them with pencils so that quick corrections can be made.Also, don’t use colour to indicate theareas in diagrams.
7.Communicate effectively
Make your answers easy to understand. This can be done by using simple words and sentence structures. However, except in questions which require a listing of points, point-form answers should be avoided. Stick to simple, complete sentences and short paragraphs in writing your explanation.
Moreover, each paragraph should contain one main point only. Candidates can begin the paragraph by stating this main point in the first sentence (the topic sentence). The topic sentence is to be followed by supporting reasoning, examples, data, proofs, etc.
Furthermore, handwriting should be clear and easy to read to avoid confusion.
Last but not least, leave some blank space at the end of each part. This enables candidates to conveniently add extra explanation or points at the end of their original answer.
8.Attempt all questions
An attempt is better than no attempt. Even if candidates think they cannot answer correctly, they should still make an attempt. They can start by writing down relevant definitions or theories. In such a case, partial credit may be given.
NSS Exploring Economics (2nd edition)1© Pearson Education Asia Limited 2014
Exam Kit (Sample)
Chapter 1What is economics?
I.Exam Trends
1.1What is economics? / 1.2Wants, scarcity and choice / 1.3Opportunity cost / 1.4Goods / 1.5Types of economic activity / 1.6Circular flows of economic activities / 1.7
Positive statements versus normative statements
Scarcity / Definition of cost / Application of the concept of opportunity cost / Economic goods and free goods / Production, exchange and consumption / Interest
2004 / CE II 1
AL I A1 / CE I A2(a)-2
CE II 2 / CE I A2(b)-2
CE I A2(c)-3
CE II 13 / CE I A1-3
CE II 3 / AL I B5-8
2005 / CE II 1 / CE I B9(b)(ii)-2
CE I B9(c)-3
CE II 3 / CE II 2
2006 / AL I A24 / CE I A2(a)-2
CE I A2(b)-2
CE II 2 / CE II 3 / AL I A10
2007 / AL I A3
AL I B6 / / CE I B10(c)(i)-2
CE I B10(c)(ii)-2
CE II 2
ALI B3 / CE II 1
2008 / CE II 1 / CE II 2
2009 / AL I A1 / CE I A1(a)-2 / CE I A1(b)-2
CE II 2
ALI B4-8 / CE II 1
2010 / CE II 1 / / CE B11(c)-5
CE II 2 / CE II 4
2011 / CE I A1(a)-2 / CE I A1(b)-2
CE II 2 / CE I B9(c)-3
CE II 1
2012 / DSE I 2
DSE II B11(c)-2 / DSE IIA1-3 / DSE I 3
2013 / DSE I 2 / DSE IIB9(b),(c)-5
NSS Exploring Economics (2nd edition)
Exam Kit (Sample)1© Pearson Education Asia Limited 2014
II.Additional Exercises
Multiple Choice Questions
1.Which of the following is NOT a correct description of economics?
A.There is no need to study economics if scarcity does not exist.
B.Distribution of income is one of the topics studied in economics.
C.Every disagreement in economic issues can be settled by checking with facts.
D.Economics is a study of human behaviour.
2.If we have unlimited resources and limited wants,
A.we have to make choices.
B.some goods must be economic goods.
C.we will not have the problem of scarcity.
D.None of the above
3.Christopheris a Form 3 student in a secondary school in Hong Kong. Recently, a school in Britain has agreed to admit him in the coming school year. He may stay at his current school to study the DSE curriculum if he chooses not to study in Britain. Which of the following situations may increase his opportunity cost of going to study in Britain?
A.His best friend will study in that British school.
B.The DSE curriculum has been fine-tuned and become easier for Christopher.
C.His favourite teacher will leave his current school after this school year.
D.Textbook prices in Hong Kong decrease.
4.Amy is deciding between a visit to Tokyo and Osaka. Which of the following will decrease her cost of visiting Osaka?
A.The Japanese Government increases the general sales tax, leading to a rise in prices in most goods and services.
B.Her favourite singer will have a concert in Tokyo.
C.A large new megastore has opened in Osaka.
D.It is expected that the weather in Tokyo will be bad during her trip.
5.Daniel is a young Brazilian footballer. The youth teams of three Spanish football clubs are willing to offer him a position. His preference for the teams is shown below:
1st choice: Atlético Madrid
2nd choice: Real Madrid
3rd choice: Barcelona
If Barcelona’s youth team performs badly this season, how would Daniel’s opportunity cost of joining Atlético Madrid change?
A.Increases
B.Decreases
C.Remains unchanged
D.Uncertain
6.William has won a bicycle in a lucky draw. He then gives the bicycle to his nephew. Which of the following statements is correct?
A.For William, the bicycle is not a free good.
B.For William’s nephew, the bicycle is a free good.
C.If William does not know how to ride the bicycle, the cost of giving the bicycle to his nephew is zero.
D.There is no cost in producing the bicycle.
7.Which of the following about a free good is correct?
A.It is something provided by the government free of charge.
B.People already have a lot of.
C.People do not want to have it.
D.Its price must be zero.
8.Which of the following is most likely a free good?
A.Salt water in the Pacific Ocean
B.Clean water in the Yangtze River Delta
C.Tap water in Hong Kong
D.Flushing water in public toilets
9.Which of the following activities belong to production?
A.Wilson, a baker, bakes custom-madebread for his client.
B.Jess, a waitress, hasdinner with her boyfriend in the restaurant where she works.
C.Priscilla, an actress, enjoys a movie with her best friend.
D.Jason, a singer, sings his girlfriend a love song and proposes to her.
10.Which of the following is consumption?
A.A teachervoluntarily teaching primary students at a non-profit making tutorial centre
B.A teacher developing a new IT teaching tool for himself
C.A teachertaking a swimming course after school for his own enjoyment
D.A teacher correcting his students’ exercises after school
11.Refer to the following circular flows of an economy:
Flow A most likely refers to
A.factor services.
B.goods and services.
C.wages.
D.revenue.
12.Which of the following is a normative statement?
A.Friendship is the most important thing in the world.
B.People with higher income live longer.
CMore students go to cinema in summer than in winter.
D.In Hong Kong, an increase in the Hang Seng Index is followed by an increase in property prices.
Short Questions
1.Susan’s preferences on the way to spend Sunday with her family are shown as follows:
1stpriority: Victoria Park2ndpriority: Hong Kong Wetland Park
3rdpriority: Hong Kong Park
a.What is Susan’sopportunity cost of choosingVictoria Park?(2 marks)
b.Explain how each ofthe following affectsSusan’s cost of choosing Victoria Park.
i.Hong Kong Wetland Park has fewer birds than before. Susan and her family members are bird lovers. (2 marks)
ii.Victoria Park has introduced some new facilities.(2 marks)
iii.Hong Kong Park has been closed for maintenance and repair.(2 marks)
2.Johnis a handsome, successful businessman. He decides to senda love letter to hisdream lover, Regina.He has spentten hours writing the letteralthough he can earn at least $10 million per hour.
a.John says to his girl, ‘The letter is costless but filled with my love.’ Explain in what sense the letter is NOT costless. (2 marks)
b.Johncontinues to say, ‘Oh, my lovely girl! Do you know how many girls want to receivemy love letter?Many thousands! But they can get nothing even if they want to pay for it. However, I’ve written it for you free-of-charge.’ Regina has accepted the love letter.Based on what John has said, explain whether his love letter is a free good. (5 marks)
3.Tiffany is a music lover who likes to go to concerts. Three concerts will be held next month but Tiffany has money to buy a ticket for one concertonly. The following shows her preferences for the three concerts.
1st choice: Katy’s concert2nd choice: Johnny’s concert
3rd choice: Dave’s concert
a.What is an opportunity cost? What is Tiffany’sopportunity cost of choosing to go to Katy’s concert? (3 marks)
b.Explain whether the following will lower Tiffany’s cost of choosing to go to Katy’s concert.