AQA A2 Economics Unit 3 - 12th June 2012 PM

I talked about the characteristics of oligopolies initially- then went on to draw a kinked demand curve and explained it in terms of elasticity, how other firms would act hence demonstrating interdependence.
For uncertainty I talked about game theory then talked about collusion and how it could be reduced then talked about the chance of cheating. I couldn't think how to draw a cartel model though.

Yeah i said because they are uncertain they use game theory to predict outcomes, and didn't say the word elasticity and but said how price would have an effect on customers.

I did also define oligopoly too haha

Reply 601

Jakeeyy

Original post by Hemzo

Haha for telling me what you wrote, nvm anyways :tongue:

Did it seem credible?

Reply 602

Hemzo

10

Original post by lilGem

I had my history exam in the morning (which was my main concern) so I had just over an hour to prepare- such a feeling of relief :smile:

the question on interdependence and uncertainty :love:

that was a blessing in itself.

Hoping the grade boundaries are generous though :colondollar:

Are you on AQA for History? If so I had the same timetable as you :biggrin:

Reply 603

Hemzo

10

Original post by Jakeeyy

Did it seem credible?

Yep, I think I messed up on the interdependence and uncertainity bit since I missed out on collusion, but I'm hoping I didn't lose too many marks on that bit.

Reply 604

hello1234567891234

did anyone do CBA????

Reply 605

lilGem

20

Original post by Hemzo

Are you on AQA for History? If so I had the same timetable as you :biggrin:

Nope, edexcel :smile:

Reply 606

Jakeeyy

Original post by Hemzo

Yep, I think I messed up on the interdependence and uncertainity bit since I missed out on collusion, but I'm hoping I didn't lose too many marks on that bit.

Sure you did fine!

Reply 607

sweetascandy

OP

18

Sorry for spamming guys, but I need an answer to my previous post:

OMG I think i messed up. I tried to be clever and write interventionist economists are in favour of government intervention. But i think it's wrong. PLEASE someone get back to me on this! *majorpanicattack*

Reply 608

Jiytt

Original post by sweetascandy

Sorry for spamming guys, but I need an answer to my previous post:

OMG I think i messed up. I tried to be clever and write interventionist economists are in favour of government intervention. But i think it's wrong. PLEASE someone get back to me on this! *majorpanicattack*

Without being rude, use some common sense. You're obviously correct.

Reply 609

sweetascandy

OP

18

Original post by Jiytt

Without being rude, use some common sense. You're obviously correct.

Firstly, thank you for giving me an answer.
Secondly, what has common sense got to do with anything? I was unsure so I asked what other people think.
Thirdly, that was rude.
And lastly, if you want to help someone with something, at least tell them in a way that wouldn't make them feel low.

Reply 610

ninegrandstudent

11

Original post by hello1234567891234

did anyone do CBA????

Myself and someone else did (a few pages back). I'm unsubscribing from this thread, as I need to concentrate on my revision, but if you'v got any questions PM me :smile:

Reply 611

TSBroom

For oligopoly, I talked about taxing profits, OFT and CC monitioring etc, breaking firms up and price controls. What do people think of these policies when regarding oligopoly or would I lose marks cause its too similar to monopoly ones or too vague?

Reply 612

Adzs

Original post by SM94

hahahaha , you could still get 10/10 without a diagram if you explained it well , my explanation for the depleted resources was poor anyway, hopefully got 8/10

I was told this aswell but got unnerved and drew two diagrams pretty sure it was unneccessary but i absolutely hate dropping marks in them earlier questions...

Reply 613

0123456789r

Hi guys, I did the oligopoly question for the essay part and something has been worrying me. Well, for part (b), my first point was about Quangos (such as Ofgem) and how they seek to prevent collusion and my second was about the OFT and competition commission and how they seek to curb cartel-like behaviour.

My worry is that both my points relate to the same actions taken by oligopolists, namely collusion and if one were to be extremely particular it could be interpreted that both my policies are a subset of regulation- again the same kind of policy!

What are your views on this and do you think my essay would be seen as having only one point instead of two?? The mark scheme is ambiguous about how one point + evaluation would be scored. Btw my essay was filled with concrete examples and figures but evaluation in the last paragraph was somewhat pathetic as I was rushing towards the end though I did do a brief evaluation at the end of each point as well.

Thanks for reading this awfully long post, and again I'd appreciate some comments. Good luck for your other papers! :smile:

(edited 11 years ago)

Reply 614

8Dom5

Original post by lilGem

I talked about the characteristics of oligopolies initially- then went on to draw a kinked demand curve and explained it in terms of elasticity, how other firms would act hence demonstrating interdependence.
For uncertainty I talked about game theory then talked about collusion and how it could be reduced then talked about the chance of cheating. I couldn't think how to draw a cartel model though.

One thing that I've noticed about the oligopoly 15 marker is that many people have talked about how interdependence and uncertainty affect oligopolistic firms. Wasn't the question on why the firms would be affected by them? (Or I did I read the question completely wrong?)

Reply 615

rpandy12

2

Original post by hello1234567891234

did anyone do CBA????

yeah me :s regretttttt

Reply 616

lilGem

20

Original post by 8Dom5

One thing that I've noticed about the oligopoly 15 marker is that many people have talked about how interdependence and uncertainty affect oligopolistic firms. Wasn't the question on why the firms would be affected by them? (Or I did I read the question completely wrong?)

I'm not sure- I've forgotten the wording of the question :confused:

I'm now slightly worried though

Reply 617

8Dom5

Original post by lilGem

I'm not sure- I've forgotten the wording of the question :confused:

I'm now slightly worried though

Sorry - I didn't mean to put doubt in your mind. :frown:

Reply 618

Axellia

Original post by 8Dom5

One thing that I've noticed about the oligopoly 15 marker is that many people have talked about how interdependence and uncertainty affect oligopolistic firms. Wasn't the question on why the firms would be affected by them? (Or I did I read the question completely wrong?)

Yes, I thought that too but there didn't seem to be enough to talk about for 15 marks so I ended it with talking about how uncertainty may lead to them colluding, even though I didn't think it was answering the question