MCQ answers ???, i thought I had more time than I did so I only answered 8/25 mcq and just ticked B for the rest, section B i think I got, 5 marks for definition, 8 for comparison, 10/12 and about 21/23/25 as I only had 1/2 quotes.
urghhhhh my pes q3 went crap. I've lost 12 marks there but pretty sure I got full marks everywhere else. the multiple choice was sooo easy and the 25 marker was a dream. hopefully I get a high B. anyways im done thinking about this now. time for some maths :/
Yes guys it wasnt clear for me if we need to right word thousand after the number, did u all write thousands like 12,398 thousandf or just number like 12,398 ????
Yes guys it wasnt clear for me if we need to right word thousand after the number, did u all write thousands like 12,398 thousandf or just number like 12,398 ????
Yes guys it wasnt clear for me if we need to right word thousand after the number, did u all write thousands like 12,398 thousandf or just number like 12,398 ????
Also what did you lots get for the 12 marker???I got 75/40 and rounded it to 1.9. I talked about spare capacity and subsidies for the factors determining PES but idk if subsidies are right lol.
The 25 marker was amazing tho, I managed to talk about subsidies, regulation and maximum price ceilings. I also talked about government failure and the law of unintended consequences for subsidies and maximum price ceilings.
i did context one first paragraph was leave it to market as price mechanism works. i showed demand shifting and firms supplying next paragraph was a merit good graph with social benefits higher than private benefits and identified sociallly equilibrium and free market points third paragraph was advertising. pros and cons next paragraph was direct provision. pros and cons compared two policies together conclusion i said that they are both costly and that they could just regulate the market and set quotas for firms to produce and the price mechanism would still be left to work
i did context one first paragraph was leave it to market as price mechanism works. i showed demand shifting and firms supplying next paragraph was a merit good graph with social benefits higher than private benefits and identified sociallly equilibrium and free market points third paragraph was advertising. pros and cons next paragraph was direct provision. pros and cons compared two policies together conclusion i said that they are both costly and that they could just regulate the market and set quotas for firms to produce and the price mechanism would still be left to work
someone tell me what they think of this
My points I used where:
1) Price mech. fails as doesn't show negative externalities of production from fossil fuels, therefore allowing firms to continue using non renewable energy instead of price mech. rationing demand and signalling, so gov. intervention is needed
2) Gov. could use subsidies for firms aiming to develop renewable energy sources to lower barriers to entry and allow more investment and output
3) Tradable permits given to firms using non-renewable sources so that polluter pays and in long run they shift to using more renewable sources instead
Then concluded with market therefore can't help develop renewable sources as fails to ration those that are non-renewable and provides barriers to entry for firms trying to enter the wind turbine market for example. Therefore gov. intervention is needed through subsidises and permits
Also what did you lots get for the 12 marker???I got 75/40 and rounded it to 1.9. I talked about spare capacity and subsidies for the factors determining PES but idk if subsidies are right lol.
The 25 marker was amazing tho, I managed to talk about subsidies, regulation and maximum price ceilings. I also talked about government failure and the law of unintended consequences for subsidies and maximum price ceilings.
i got 1.9 as well. I talked about availibility of resources and time taken to make the product for PES.
25 marker went ok. Talked about subsidy and lowering tax to encourage investment. Not sure about that one. You think it makes sense??