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

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Reply 100

Megaman1995

why can't they give us like 15 minutes extra?

Reply 101

Megaman1995

any predictions on the grade boundaries?

Reply 102

whatever_x

Original post by ThisIsMyUser

Yh it was 5 marks you should get a full 5

I messed up on the 10 marker the one about increase in tuition fees and calculating PED. I did the calculations would i get atleast 2-3marks? :biggrin:

The last one i did well but i was sorta outta time so i only did one paragraph and evaluation but tbh it was was pretty detailed and concise, anyone know if it's possible to get full KAA(knowledge etc...) marks for one paragraph? (MAX KAA+8 marks)

Woo, 5 marks out of ...however much it's out of :tongue:

What bit did you mess up on? & yupp you should :biggrin:

! and did you define it as well?

Ahh not sure about that, I only did 2 analysis points & 2 evaluations. They honestly do not give us enough time.

Reply 103

ThisIsMyUser

Original post by Megaman1995

any predictions on the grade boundaries?

For the January 2012 paper it was
A B C D E N
61 54 47 40 34 28

thats pretty high

i'm guessing it will be around
A B C D E
57 52 45 38 31

Reply 104

Wa 007

Original post by Megaman1995

how did you find it?

It was nt too bad i define PC and Ec gave examples, did a diagram, gave 3 points, then in conclusion talked about government could intervene but maybe govt failure.
Thing is our teacher told us to do the paper backwards (short answers last) so time wise i JUST finished, could nt check my answers though

Reply 105

Mtice

Yep, I don't know anyone who finished completely, I had to rush the last 14 mark question in the last 5 minutes.

Reply 106

Issykluk

what did you write for b the question was what is the opp cost to the student (along those lines)? i wrote similar stuff to you here so im hoping we wrote the same for b

Reply 107

ThisIsMyUser

Original post by whatever_x

Woo, 5 marks out of ...however much it's out of :tongue:

What bit did you mess up on? & yupp you should :biggrin:

! and did you define it as well?

Ahh not sure about that, I only did 2 analysis points & 2 evaluations. They honestly do not give us enough time.

Yh i gave the formula and the word definition lol i couldn't think of anything to right :'(, i left it because i was taking to much time to think, so i went straight to the 14 marker

lol i have too many posts on this thread, must be stressing to much :L

(edited 11 years ago)

Reply 108

nakz_

Original post by ThisIsMyUser

For the January 2012 paper it was
A B C D E N
61 54 47 40 34 28

thats pretty high

i'm guessing it will be around
A B C D E
57 52 45 38 31

i think it will be

A B C D E
60 53 47 40 33

(edited 11 years ago)

Reply 109

whatever_x

I really do hope the grade boundaries are low, I needd an A :frown:

Original post by ThisIsMyUser

Ahhh right, I get what you mean. I don't even remember what I wrote for that question, something about it being the rise in tuition fees being inelastic

LOL, no point stressing about it anymore... until 16th of August :tongue:

Reply 110

Wa 007

Original post by nakz_

i think it will be

A B C D E
60 53 47 40 33

Surely, not that high, if some people did nt even finish the 14 marker or the paper in fact

Reply 111

ThisIsMyUser

Original post by nakz_

i think it will be

A B C D E
60 53 47 40 33

If a B is above 55 i will be struggling

Better get higher in Unit 2, next week :O

Reply 112

nakz_

Original post by Wa 007

Surely, not that high, if some people did nt even finish the 14 marker or the paper in fact

Yeah but its a case of averages. Also i think that the case study was easier than the multiple choice questions. we'll see but im uncertain there will be a really low boundary. I think i got between 54 and 58. Hoping to get a Middish B. But we'll see

Reply 113

Mouth

For 10a did people do a shift in demand and supply? I thought there would be a shift in demand too because of increased speculation?

My last 14 marker was pretty weak, I couldn't think of any external costs apart from bio diversity (which I know nothing about...) so couldn't write much. Did the graph and definitions so hopefully not too many marks lost!

Multiple choice went well though :smile:

Reply 114

jordanW241

I didn't find the paper that bad really. A few of the multiple choice questions were conspicuously worded though... I was expecting to breeze through that section in around 25 minutes so I could spend more time on the longer answer questions like I've been doing on past papers, but it took me just over the recommended 35. I can see a lot of people getting fooled by Q1 and putting a shift right of the PPF as the answer. That airline tax one was annoying as well - I think it was D (to increase the price, therefore decreasing demand and limiting welfare loss)

I spent a while flicking back and forth between 9 & 10 as well, I couldn't decide what one to do, aha. In the end, the thought of calculating PED in q9 put me off so I just went for the cotton one. The extract on Next was great, it pretty much spelt out all the evaluation points you needed for one of the questions. Definitely one of the better answers I've written.

Reply 115

ThisIsMyUser

Original post by whatever_x

I really do hope the grade boundaries are low, I needd an A :frown:

Reply 116

olivers16

From what I remember, Q1 was from W to Z as it was decrease in unused resources still meaning it was operating inside the PPF.

I thought the paper was quite easy. The multiple choice in my opinion was easier than recent year but a few of the question in not sure about as I'm not sure I put enough detail.

Reply 117

Miryo

Original post by Wa 007

ah i forgot perishibility :/ but i talked about level of stocks of cotton, how did you find the last question?

I tried doing the multi choice really fast and parts A and B, so I left myself a lot of time on the last 3, kept adding little bits to each one.

when I read the last one i was like :confused:

why didn't i pick the first question....
I just referenced to the text a lot. I think the easy marks were definitions of private costs and external costs and the diagram. I then said private costs the cost to the farmer, these are more than cost of normal seeds. I said external costs were lack of biodiversity so a disease could wipe it all out, and health concerns and it being immoral.

For evaluation I put difficult to attach monetary value to external costs even if govt does intervene, theyre unlikely to get it to the social optimum.
Time lag, lack of biodiversity would cause a lot more problems in future than in the short run.
it has external benefits too, e.g wiping out diseases and increasing crop yields.
prioritizing between external costs - it being immoral is not very significant but peoples health is more significant.

I don't really know much about GM crops so dont know if its right :s. what did you put for it?

Reply 118

olivers16

Original post by jordanW241

I was also a little confused on that question but I put D as well.

Reply 119

olivers16

Original post by Miryo

I thought it was slightly harder than usual but not as bad as people in my school were making out. I did question 10, it was so much easier than question 9. Q9 looked like a good bet at first because there was a similar University question we've done but it wasnt really the same.
Can we start an unofficial mark scheme?

1) W to V (Moves closer to the PPF line so we're using more of our resources)
Defn PPF
explain that as it moves outwards, we're closer to our maximum output so we must be using more of our spare resources.
2)
3)Plane question - answer was an increase in price
4) Car question on subsidy - Increase amount of cars on the road
5) Numbers question on equilibrium - Answer was either B or C. You made a new column and then found the two values that matched.
6)
7)
8) Imperfect market knowledge - Don't think its the tax one because it said Tax INCENTIVES. If there were incentives, surely they'd put more into pension?