AQA A2 Economics Unit 3 (ECON3) 20th June 2016 OFFICIAL THREAD

I did the 25 marker on environmental sustainability (context 1) and the essay on monopolies

For the Essay 2, 25 marker I spoke about the different objectives e.g. survival for the small firms and max revenue - which leads to profit max in the long run as it is done to increase market power, in my evaluation I said satisficing may be more important as can't find MC = MR easily / when MR = 0 as well as social objectives more important due to media scrutiny etc. Did anyone else talk about similar points?

ah cool. What did you write about?

So did you talk about what I said and also MRP?
I asked my teacher afterwards and he said its a valid argument, as the question was only 10 marks (6 marks if you ace the definitions which i feel confident i did)

as the question was asking why if left to market forces are some underpaid, so it could be used either way
I explained it as if the left to market forces, in a monopsonistic labour market, there is only one buyer of labour and so workers in that labour marker can't go to another employer therefore the employer is able to charge a lower price than equilibium wage (drew to mc of labour and mrp of labour to show underpaid wage) against the standard wage

would that give me the full marks? as i explained it all with my diagrams and proved how in this instance, some people are paid very low wages

Probably a B but if the grade boundaries are low you may just get an A.

For Context 2
i got 50% and for the comparison i said that although Luxembourg had the highest minimum wage, they also had the second highest percentage of people on it.
For the 10 marker i spoke about elasticises and skills and qualifications etc. I drew two graphs-one of the elastic labour demand and one of inelastic demand
For the 25 marker i spoke drawbacks on increasing the wage i.e more excess supply of labour. I then spoke about benefits - like fairness. I then gave other methods - regressive taxes and education/training schemes and evaluated them. For the judgement i questioned each method.

I then did Question 7 n drew three graphs of perfect competition- the two short run ones and the long run one. I explained how if they weren't efficient they would be forced out of market etc.
For Question 8 i spoke about two drawbacks on monopolies - the 3 inefficiencies and unemployment, I then said an advantage was R and D being used and benefit consumers in lower prices. I evaluated throughout but my judgement was a bit dead. I just questioned each one and talked about short run and long run.

What do you guys think i would get approx ( i need 64 lol)


Thanks in advance.

Did anyone do essay 3 on merit good ?

Someone tell me what they wrote about Essay 3
It was to do with economic welfare, merit goods, public goods and governments/markets.

For Context 2
i got 50% and for the comparison i said that although Luxembourg had the highest minimum wage, they also had the second highest percentage of people on it.
For the 10 marker i spoke about elasticises and skills and qualifications etc. I drew two graphs-one of the elastic labour demand and one of inelastic demand
For the 25 marker i spoke drawbacks on increasing the wage i.e more excess supply of labour. I then spoke about benefits - like fairness. I then gave other methods - regressive taxes and education/training schemes and evaluated them. For the judgement i questioned each method.

I then did Question 7 n drew three graphs of perfect competition- the two short run ones and the long run one. I explained how if they weren't efficient they would be forced out of market etc.
For Question 8 i spoke about two drawbacks on monopolies - the 3 inefficiencies and unemployment, I then said an advantage was R and D being used and benefit consumers in lower prices. I evaluated throughout but my judgement was a bit dead. I just questioned each one and talked about short run and long run.

What do you guys think i would get approx ( i need 64 lol)


Thanks in advance.

Context 2 ten marker:
Did anyone write about discrimination, gender, skill level, part-time full-time? I completely messed up this question and wrote about these 😩


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For the 10 marker i got a completely different answer - not sure if im right though. I talked about monopsony employers pushing wages down, globalisation and immigration for low wages, and drew monopsony and increased labour supply diagram. 2 definitions as well. I think we're both right though?

For the 15 marker I also got a different answer, I just looked at perfect competition in the long run and assessed how it was efficient through Allocative + Productive + X efficiency. Had 2 definitions, and a diagram. I would have looked at how it wasnt efficient but i think the question was along the lines of 'how is perfect competition efficient', and talking about inefficiencies would be evaluation which you dont need for 15 marker. But again I think we're both right

For the 25 mark essays i had similair structure, so should be ok?

I did this essay too! my points were very similar to yours.
I mentioned monopolies, usually lr objective of profits in order to keep competitive, dynamic efficiency gives them the edge, hence they want to earn abnormal profits in lr
how some firms may want to maximise sales in sr to gain awaress/brand loyalty/ discourage firms entering the market to steal profits away if market was contestable
mentioned mr=0 about survival and what you said
i also mentioned about perfect competiton, may have been wrong to say but i had time and so said in a very competitve market like that, they can't earn abnormal profits in lr so they may have different objective such as sales max etc etc

I did the same for question 1...the 10marker i did different MRP, discrimination and monopsony..25 maker did the same but used trade unions too..

For the 15 marker..I did an intro on perfect comp, used the 3 diagrams and talked about how it is allocative efficient but also productively efficient but no dynamic efficient..

25 marker..did the same pretty much


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didn;'t essay 3 feel really AS like? I'm worried I didn't hit the A2 marks idk what did you guys write? I wrote about:

25 marker:
Government should provide public goods because without the government providing it, the welfare would be 0, because no firm will provide it/since they are non-excludable and non-rivalrous. Therefore, there is definitely an increase in welfare (since it goes from 0 to whatever).

I then wrote about merit goods, how they're important, if government provides them then it is fair and there is equity since poor people won't be excluded, education and healthcare both have social impacts which is another reason government should do it.

Then I wrote that actually, currently the NHS is struggling and is being inefficient since the government owns it. Organisational slack etc. Market forces would instead be better because they would be more allocative efficient, and make better use of resources so welfare is maximised. Also I wrote if it were privatised, then more advertising would happen which would encourage people to go to their GP etc, so consumer surplus is increased.

I concluded by saying welfare can be maximised if government provides both type of goods because they won't discriminate against certain areas i.e. rural towns with small populations. But it is best if government outsources merit goods and still has ownership.

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Overall, I feel I did fine but I'm worried my answers to essay 3 were too AS like and I didn't know how to use my A2 knowledge in answering it :/ I wish I did essay 1...

I talked about MRP and skills, discrimination and monopsonys


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