Do you always fail to acquire the elusive evaluation marks? Many JC students are unable to understand the demands of the markers when it comes to evaluation. You will always see this vague statement of “able to challenge assumptions” in the mark scheme. What does it even mean? In the later part of my JC2 year, I found a framework for evaluation that works for almost all the essays. But first, let’s look at what evaluation really is.
The Urban Redevelopment Authority (URA) announced that prices of private residential properties in Singapore rose by 1.3% in the third quarter of 2011, but the rise in prices has been slowing for eight consecutive quarters. At the same time it reported that the total supply of new private residential properties nearing completion was at a record high.
Economics assumes rationality decision making by consumers, firms, and government.
a) Explain what is involved in rational decision making both by consumers and firms. 
b) Discuss whether rational decision making by consumers, firms and government always lead to an efficient allocation of resources. 
During 2009 the Bank of England engaged in what is known as ‘quantitative easing; by pumping more than $200Billion into the economy. Record low levels of interest rates have also been maintained within the UK economy. Quantitative easing and low interest rates were also adopted by the US.