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F581 OCR Economics May 18th

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Reply 200
Original post by Clare1994
Me neither nor information provision.

i think i might have to resit this, again!
Reply 201
Original post by nm786
i think i might have to resit this, again!


Sure it's fine what you aiming for?
Reply 202
Original post by zachyg
Really disliked how the last question was worded. Because of the wording I purposely didn't mention any alternatives :frown:


so many people made this mistake!

The reason why they said something like discuss the extent to which regulation alone is effective in.... is because too many people don't talk about alternatives in the last question. By saying alone, it's clear, they want you to be discussing whether it'd be good alone, or better alongside other policies.
(edited 11 years ago)
On the burger kind and mcdonalds diagram which were next to each other. Everyone got a shift of demand for McDonald's due to advertising increasing tastes/fashions.

However for the burger king diagram, as far as I remember there was nothing in the article which suggests demand fell. It said the price of burgers was decreased. So was it a movement along the demand curve for burger king?
Reply 204
Original post by Priti94
How did you guys draw the burger king diagram?


I think I showed a leftward demand shift, excess supply and showed contraction along the demand curve. For mcdonalds, I just showed a rightward demand shift and explained that there was an increase in sales.

It was difficult to tell what it was they wanted, especially for 8 marks...
Reply 205
Original post by Pride
so many people made this mistake!

The reason why they said something like discuss the extent to which regulation alone is effective in.... is because too many people don't talk about alternatives in the last question. By saying alone, it's clear, they want you to be discuss whether it'd be good alone, or better alongside other policies.


Yeah but when i see ALONE in bold it makes you think they want you to talk about it ALONE lol.
Personally believe it would of been better if they didn't have the word in bold
Reply 206
Original post by t00 g00d for u
On the burger kind and mcdonalds diagram which were next to each other. Everyone got a shift of demand for McDonald's due to advertising increasing tastes/fashions.

However for the burger king diagram, as far as I remember there was nothing in the article which suggests demand fell. It said the price of burgers was decreased. So was it a movement along the demand curve for burger king?


I assumed because of recession, demand shifted.

I really screwed up consumer surplus. It should be so easy, but I did it the wrong way round, a decrease in cons surplus...
Reply 207
Original post by Pride
I think I showed a leftward demand shift, excess supply and showed contraction along the demand curve. For mcdonalds, I just showed a rightward demand shift and explained that there was an increase in sales.

It was difficult to tell what it was they wanted, especially for 8 marks...


I think the graphs on there own may come up to 6 marks cause there wasn't space to write
All i did was explain the graphs and say that burger king is a substitute.
But surely that would mean the McDonald's diagram would shift inwards too if you assume recession?

And Ahh nightmare, I'm sure you'll still get carry ons :smile:
Reply 209
Original post by Clare1994
Sure it's fine what you aiming for?

definitely above a C,
Reply 210
Did anyone else think that the 18 mark question was really poorly worded?!
Reply 211
Original post by t00 g00d for u
But surely that would mean the McDonald's diagram would shift inwards too if you assume recession?

And Ahh nightmare, I'm sure you'll still get carry ons :smile:


It's cause mcdonalds they used advertisement there demand rose.
Idk maybe alternative good would of been better than substitute.
Reply 212
Original post by t00 g00d for u
But surely that would mean the McDonald's diagram would shift inwards too if you assume recession?

And Ahh nightmare, I'm sure you'll still get carry ons :smile:


that's true, I just don't know any more lol
Reply 213
Original post by chja
Did anyone else think that the 18 mark question was really poorly worded?!


Pretty much everyone.
Reply 214
Original post by nm786
definitely above a C,


I'm sure you managed that :smile:
Reply 215
Original post by Clare1994
I'm sure you managed that :smile:

thanks, i hope so,
you?
Original post by Clare1994
It's cause mcdonalds they used advertisement there demand rose.
Idk maybe alternative good would of been better than substitute.


Ye I agree with that, that's fine. But for the reason bk demand shifted inwards? There was nothing in the source. But if you assume recession, then you have to assume mcd will have shifted inwards too, and then maybe the advertisement would have negated the inward shift. Personally that's too complicated I think.
Regardless what was your reasoning for bk shifting inwards?
Reply 217
Original post by Clare1994
I think the graphs on there own may come up to 6 marks cause there wasn't space to write
All i did was explain the graphs and say that burger king is a substitute.


I assume so.

You know what, even though I screwed up consumer surplus, I think I did alright actually. It was 60 marks, I reckon I've gained at least 80% of the marks which is 48 out 60, I reckon I was strong during the last question.

I need to stop thinking about it, it's done...
Reply 218
Original post by nm786
thanks, i hope so,
you?


Resat it to boost up my marks really hopefully an A but don't feel i did amazing
Reply 219
Original post by t00 g00d for u
Ye I agree with that, that's fine. But for the reason bk demand shifted inwards? There was nothing in the source. But if you assume recession, then you have to assume mcd will have shifted inwards too, and then maybe the advertisement would have negated the inward shift. Personally that's too complicated I think.
Regardless what was your reasoning for bk shifting inwards?


I'm pretty sure it said burger king suffered from the recession in the text... or it said that many fast food places had with the exception of mcdonalds

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