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Economics AS AQA exam tomorrow 16/05/2016

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Original post by Reaver Daniels
You guys know that for the new spec (not sure about the old spec) you are capped at level 4 if you don't have a conclusion, right?


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You can get top band, if you did evaluation after analysis, you pick up evaluation marks without knowing it sometimes.
Original post by Reaver Daniels
On the new spec, what did you guys put for the multiple choice question showing an average cost curve where the firm was producing at X (at the lowest point on the curve) and it was asking how average costs would decrease?

I think the options were like

A: a shift upward of the average cost curve
B: a shift downward of the average cost curve
C: a movement along the average cost curve to the right
D: a movement along the average cost curve to the left

I think those were the options? I put A.


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I also said a


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Original post by dons178
First question on how do consumers affect price or something , answer - B through their patterns of spending , any1 get that


Yh i got that
Attempted Mark scheme:
cba to do multiple choice tbh
Context 1:
( 3 marks ) - misallocation of resources as a result of an attempt by a government to correct market failure....
( 4 marks ) - calculation = 1751 or 1750 ( not sure if you round or not )
( 4 marks ) - Two points of comparison:
populus increased overall whereas houses built didnt.
populus had higher peak
populus range was bigger
+ any others
( 4 mark ) - maximum price
below equilibrium, arrows to show contraction and extension, labelled curves and axis
( 10 mark ) - Perfect comp
no barriers
infinite suppliers met by demand
equal information
price takers
small market share
identical products
+ im sure there are other, generally explain idea that there is no power and acts off rational decisions.
( 25 mark ) - Housing and gov intervention
General Structure ( wasnt sure at first ) :
intro ( why we should or shouldnt ) ( housing is near enough a neccessity )
3 or more points : Why the intervention is neccessary how it work
Evaluation ( diagram )
Failure
Relevant point :
Supplying info to consumers
subsidies
maximum prices
investment ( increase of supply to meet demand )
encourage building ( rewards and incentive for producers )
collective housing ( living with friends )
less restriction on no housing areas.

Didnt to context 2 sorry. Tough exam though i thought.
Original post by EggFriedRai
Attempted Mark scheme:
cba to do multiple choice tbh
Context 1:
( 3 marks ) - misallocation of resources as a result of an attempt by a government to correct market failure....
( 4 marks ) - calculation = 1751 or 1750 ( not sure if you round or not )
( 4 marks ) - Two points of comparison:
populus increased overall whereas houses built didnt.
populus had higher peak
populus range was bigger
+ any others
( 4 mark ) - maximum price
below equilibrium, arrows to show contraction and extension, labelled curves and axis
( 10 mark ) - Perfect comp
no barriers
infinite suppliers met by demand
equal information
price takers
small market share
identical products
+ im sure there are other, generally explain idea that there is no power and acts off rational decisions.
( 25 mark ) - Housing and gov intervention
General Structure ( wasnt sure at first ) :
intro ( why we should or shouldnt ) ( housing is near enough a neccessity )
3 or more points : Why the intervention is neccessary how it work
Evaluation ( diagram )
Failure
Relevant point :
Supplying info to consumers
subsidies
maximum prices
investment ( increase of supply to meet demand )
encourage building ( rewards and incentive for producers )
collective housing ( living with friends )
less restriction on no housing areas.

Didnt to context 2 sorry. Tough exam though i thought.


Were there any arguments for leaving it to the market? I said that in the long term the shortage, which has caused higher prices, would lead suppliers to supply more due to the incentive function. But this seems weak.
Original post by nellythumper
Were there any arguments for leaving it to the market? I said that in the long term the shortage, which has caused higher prices, would lead suppliers to supply more due to the incentive function. But this seems weak.

I also put what you put and is correct, max prices mean less profit and therefore less incentive.
[I put the obvious stuff:]
- gov may not know the consequences ( volatile market )
- most intervention is not guna solve long term effects
in my conclusion i put that supply of information and general methods that involve the consumers are better due the consequences being less likely to lead to failure.
Original post by jfahdgjdfshg
What did people get for the Context 2 calculation. £6.29?


yes mate *high fives*
Original post by SANTR
Yep and you have to refer to the extract explicity. What conclusion did you draw?


oh b*gger my actual anus
Reply 189
I quoted the extract once I think. Do you think that's enough, also I think you're capped at 21, 15 seems awfully low for just not quoting the extract.
Reply 190
Original post by Reaver Daniels
Did you quote the extract? If not then I believe you're capped at 15/25?


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How many times do you have to refer to the extract?
what did people draw for the graph uestion on cigarettes?
overalll found it quite an easy paper, multiple choice were decent and the context uestions were superb
(new spec)
Original post by Satch13
what did people draw for the graph uestion on cigarettes?
overalll found it quite an easy paper, multiple choice were decent and the context uestions were superb
(new spec)


I drew a D&S diagram with demand shifting to the left
Original post by sharmonraja
I drew a D&S diagram with demand shifting to the left


Thanks, for some random reason i drew supply to the left
What did people write about for the cigarette 25 marker?
I think i may have gone on a tangent in the context 1 25 marker - hopefully got at least 15:s-smilie:
Increase in existing taxes, subsidy on substitutes, better information, de-merit good, negative externality
Original post by joebackhouse
Increase in existing taxes, subsidy on substitutes, better information, de-merit good, negative externality


Good! i wrote about that too along with bans. Can't see why people did the context one- it looked so much harder
Yeah I also wrote about a full ban and why its a bad idea for my evaluation
can someone fire out some of the multiple choice questions that came up today

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