Hey there Sign in to join this conversationNew here? Join for free

Economics Unit 1, Competitive Markets. Friday 18th May 2012 Pm.

Announcements Posted on
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    Since the old thread is closed, and its now past 4:30 AM the morning after, I thought I'd ask everyone how they found it?

    I found it a good paper, the multiple choice was harder than usual, but section B was great! (I did question 9). How did everyone else find it? and how did you answer them?
    • 0 followers
    Offline

    ReputationRep:
    ahh i did Q 10 anyways quick question , in the short answers what did you get for the price mechanism question ??
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    The answer about the rationing function i believe : ) how about you?
    • 0 followers
    Offline

    ReputationRep:
    urmm rationing aha i think i said signalling, i said it was nt to eliminate shortages or surpluses, i said it wasnt to reduce inequality, and i said i was nt to eliminate excess something so i think i put B Did you get that?
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    do you remember the question? D: i honestly have no idea >.<
    • 0 followers
    Offline

    ReputationRep:
    I think I said signal as a change in price signals to the producer to extend or contract quantity produced.

    :/ I would love for a mark-scheme to come up soon.
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    (Original post by Iceyy)
    I think I said signal as a change in price signals to the producer to extend or contract quantity produced.

    :/ I would love for a mark-scheme to come up soon.
    my bad! this is what i wrote, for my definition i explained that it had 3 functions.
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Iceyy)
    I think I said signal as a change in price signals to the producer to extend or contract quantity produced.

    :/ I would love for a mark-scheme to come up soon.
    Yeah thats what i thought! lol , did you do q10 by any chance??
    • 0 followers
    Offline

    ReputationRep:
    I did, however that was the questino which I left til the end of the exam as my head couldn't get around it in the 30th minute.

    You don't know the options do you? I eliminated that it was a public good though which was option A.
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Iceyy)
    I did, however that was the questino which I left til the end of the exam as my head couldn't get around it in the 30th minute.

    You don't know the options do you? I eliminated that it was a public good though which was option A.
    Urm i think public good was for the pension question tbh, i was gonna ask fo q 10 part a did you get two shifts in demand and supply for the diagram?
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Wa 007)
    Urm i think public good was for the pension question tbh, i was gonna ask fo q 10 part a did you get two shifts in demand and supply for the diagram?
    Oh my bad, for some reason I got confused between Question 8 and 10. No, I did question 9 about the rise in tuition fees.

    Part a and b were piss easy, but c,d,e will be the difference between me getting an A and me getting a D.
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Iceyy)
    Oh my bad, for some reason I got confused between Question 8 and 10. No, I did question 9 about the rise in tuition fees.

    Part a and b were piss easy, but c,d,e will be the difference between me getting an A and me getting a D.
    ahh right, no worries, back to short answers did you get D for the first question that the PPF shifts outwards?
    • 0 followers
    Offline

    ReputationRep:
    I thought it was much harder than previous years and got a few of the SC muddled up at the beginning :mad:
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Wa 007)
    ahh right, no worries, back to short answers did you get D for the first question that the PPF shifts outwards?
    Oh god, no. Uhmm, W to Z or something which was the two points inside the PPF because it increased the EFFICIENCY of the resources used.

    Tbh, I really need to see the question paper because I can't clearly remember the questions and answers to many of them =/
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Iceyy)
    Oh god, no. Uhmm, W to Z or something which was the two points inside the PPF because it increased the EFFICIENCY of the resources used.

    Tbh, I really need to see the question paper because I can't clearly remember the questions and answers to many of them =/
    I put that too

    I think the Pensions one was the assymetric information because for people who work in the private sector pensions aren't public goods?
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    i put public goods for that question ^ and yeah i put the 2 points inside the PPF
    • 2 followers
    Offline

    ReputationRep:
    I did the 2009 mock paper as revision and half of the same stuff came up in the multi choice

    The essays were more frustrating though - I forgot to define terms.
    • 0 followers
    Offline

    ReputationRep:
    Oh okay anyways i put assymetric info for the pensioners too, but who s gonna post the paper?
    • 0 followers
    Offline

    ReputationRep:
    (Original post by Spaz Man)
    I did the 2009 mock paper as revision and half of the same stuff came up in the multi choice

    The essays were more frustrating though - I forgot to define terms.
    Which question did you do?
    • 0 followers
    Offline

    ReputationRep:
    I found that paper really hard. Short questions were horrible. Usually there is something about positive / normative statements, XED , consumer / producer surplus, supply / demand or some calculation. None of those came up!
    And I did the commodity question. The last question about EC was not good at all. I just wrote down definitions, tried to give examples, diagram and an explanation of diagram. I had no idea what are the ECs of those genetaically modified crops...

Reply

Submit reply

Register

Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?

    this is what you'll be called on TSR

  2. this can't be left blank
    this email is already registered. Forgotten your password?

    never shared and never spammed

  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. By joining you agree to our Ts and Cs, privacy policy and site rules

  2. Slide the button to the right to create your account

    Slide to join now Processing…

Updated: August 24, 2012
New on TSR

Ways to improve university

Should university be free and harder to get in to?

Article updates
Reputation gems:
You get these gems as you gain rep from other members for making good contributions and giving helpful advice.