[amagalhaes1]

Meant to get up at 6 woops. Last hour of revision before I drive to school! gd luck everyone! we will meet again in a few hours :/

[yunghamz]

I've put up a poll for the reactions to the exam, How did everyone find it, personally i think the data response killed the exam =.=

[EdwardSAS]

(Original post by yunghamz)
I've put up a poll for the reactions to the exam, How did everyone find it, personally i think the data response killed the exam =.=

I agree with that - the data response questions were poor. Which one did you do?

Didn't mind the options for the last three questions; I did privatisation of utilities but could have dealt with the others.

[yunghamz]

(Original post by EdwardSAS)
I agree with that - the data response questions were poor. Which one did you do?

Didn't mind the options for the last three questions; I did privatisation of utilities but could have dealt with the others.

The last 3 options were just , i done the women wage discrimination for that. For data response, who came up with this **** , i done the EU coz it was the only one i could do. If you done the Eu context , what did you talk about, i spent 10 mins trying to figure out how i'm going to answer this question

[EdwardSAS]

(Original post by yunghamz)
The last 3 options were just , i done the women wage discrimination for that. For data response, who came up with this **** , i done the EU coz it was the only one i could do. If you done the Eu context , what did you talk about, i spent 10 mins trying to figure out how i'm going to answer this question

I did the EU one, but yeah it was awful. I wrote about how the data suggested the lower profit margins of Aldi and Lidl which leads to their lower costs could in the short-run harm UK firms with higher profit margins due to the single market integration, but wrote that could lead to greater productive efficiency in the long-run and be beneficial for consumers who have a greater choice and lower costs.

I also wrote about how if EU merger policy was lax, then the large UK firms referred to in the extract could form cross-border conglomerates, develop monopoly power, abuse it etc. bad for consumers etc. etc.

And I briefly wrote about the effects of the exchange rate given that the UK is in the single market but not the Eurozone, and explained how UK firms could use economies of scale to expand into other European countries and use lower unit costs etc, gaining more profit etc.

Ultimately said it all depended on merger policy and resultant competitiveness within the single market and how that pertains to consumers and producers.

But it was so dull!

[yunghamz]

(Original post by EdwardSAS)
I did the EU one, but yeah it was awful. I wrote about how the data suggested the lower profit margins of Aldi and Lidl which leads to their lower costs could in the short-run harm UK firms with higher profit margins due to the single market integration, but wrote that could lead to greater productive efficiency in the long-run and be beneficial for consumers who have a greater choice and lower costs.

I also wrote about how if EU merger policy was lax, then the large UK firms referred to in the extract could form cross-border conglomerates, develop monopoly power, abuse it etc. bad for consumers etc. etc.

And I briefly wrote about the effects of the exchange rate given that the UK is in the single market but not the Eurozone, and explained how UK firms could use economies of scale to expand into other European countries and use lower unit costs etc, gaining more profit etc.

Ultimately said it all depended on merger policy and resultant competitiveness within the single market and how that pertains to consumers and producers.

But it was so dull!

Ok, i failed that question lool. I mainly concentrated on economies of scale, benefits of this bla bla and how it could be used as a barrier to entry by emerging monopolies bla bla and also mentioned less regulation creating higher degree of contestability bla bla , ,anyways i did not mention any merger, this question was hard!

[EdwardSAS]

Well I don't know if I'm right - I came out of there feeling like I've failed. I did a retake in January and came out thinking I'd aced it and I got a C, so maybe it bodes well, but of all the questions the EU one is the one I'm most uncertain of - I'm not sure if what I included was correct.

[Hoodo]

EU one I did :
Economies of Scale can lead to lower prices, but can lead to price discrimination between domestic and foreign markets e.g. UK and foreign markets (which can depend on exchange rates)
Cheaper labour : benefits of this/costs of this
Exchange Rates.

Did 11 and 12, 12 was effectively the same question as the one in the specimen.

I didn't think it was too bad, the EU 5 marker was a given, as was the perfect competition (S+D) model, and it really depended on how much you wrote/evaluated for the 25 marker. Hoping for a B in it.

[yunghamz]

Who did the global context, apparently it had a question on monopoly and the environment which is my fav topic but ignored this because of the diminishing marginal returns question -.-

[EdwardSAS]

Yeah the perfect competition definition and demand question was good. I just defined it, said it was a concept and not real, put the assumptions of perfect competition, diagrams, evaluated, and briefly stated at the end that the effect of demand upon profit etc. was dependent on extent of demand and the profit level the firm was operating on ie. was it in equilibrium or was it at supernormal profit.

[EdwardSAS]

I didn't realise there was a monopoly question. I wouldn't have done the global context one anyway, one look at the word GM had reminded me of the tedium of the biology GCSE.

[Butterfly1991]

The data response question went bad :/ Did the global context and Poverty question from section B. Don't know how it went, i think i did okay. How did everyone find it?

[Butterfly1991]

(Original post by yunghamz)
I've put up a poll for the reactions to the exam, How did everyone find it, personally i think the data response killed the exam =.=

What question did you do from section B?

[yunghamz]

(Original post by EdwardSAS)
I didn't realise there was a monopoly question. I wouldn't have done the global context one anyway, one look at the word GM had reminded me of the tedium of the biology GCSE.

hahahah That's exactly what i thought, but apparently some guy i spoke to wrote about monopoly and their externalities.

[yunghamz]

(Original post by Butterfly1991)
What question did you do from section B?

Wage discrimination on women , can't believe poverty and inequality came up again lol they love that topic.

[amagalhaes1]

spoke to my teacher, think i did ok on question 7 but not so great on 8 (trade unions and wages)
didnt do any diagrams for those 2 questions.

did 4,5,6 for data response first 2 i think were ok. 25 marker probaly not so good

[Butterfly1991]

(Original post by yunghamz)
Wage discrimination on women , can't believe poverty and inequality came up again lol they love that topic.

I know, I answered that I thought I could write more on that. Poverty came up in the Jan paper and the specimen paper.

Unit 4 to go

[GoodTimesGonnaCome]

i thought it was horrible! - i thought it being a new spec. and the jan paper looking doing wouldnt mean they do some really dodgy data response qs!

section b was ok.. did women wages

section a .. nightmare. .. ended up picking 1st q .
(second one looked to much like macro?!)

i need like 90-100ums in the next paper to get an A... -- how will i do this?!!!?!?

[amagalhaes1]

what did ppl write for the 25 marker on trade unions?

[amagalhaes1]

(Original post by GoodTimesGonnaCome)
i thought it was horrible! - i thought it being a new spec. and the jan paper looking doing wouldnt mean they do some really dodgy data response qs!

section b was ok.. did women wages

section a .. nightmare. .. ended up picking 1st q .
(second one looked to much like macro?!)

i need like 90-100ums in the next paper to get an A... -- how will i do this?!!!?!?

lol i need 90ums in BOTH papers