A2 AQA Economics Unit 3 (ECON3) 11th June 2015

i'm worried about my 5 marker haha- does it count as a significant point just to say that for a specific firm, whilst costs increased by x% during the period from 2010-12, prices increased by x%.

Sameeee I'm worried about my 5 marker too! I wrote something similar..

Reply 981

dnathwani

1

Original post by NikolaT

Standard paper. Shame no Royal Mail mention.

Onto C3...

Likwise need to kill c3

Reply 982

WM97

2

Will I be credited for the two points and evaluation I had to bullet point instead of writing for the second essay???? :frown:

Reply 983

Chussss

2

Original post by FlowC

Should UK electricity industry be renationalise

Defined Public ownership and privatisation

Spoke about how privatised firms make supernormal profits and could reinvest this profits into RandD and could lead to innovation and lower prices for consumers. but eval on how in a market where firms are colluding and acting as a monopoly force, it is unlikely for them to do this as super normal profits already being made.

then said how pub owner ship will increase the spending of gov budget and reduction of tax receipts from the privatised firms. But counter argunment of how socially optimum level of output occurs in pub ownership.

Spoke about how potentially the regulatory body of the elec industry has failed due to firms restricting supply and increasing price thus abusing market power and how gov failure would occur if they tried to intervene at its current state due to asymmetrical info. Colluded with how pub ownership is needed as elec as a service is essential and the only way currently that optimum levels of supply can occur is through pub ownership

Reply 984

Bethany09

2

Context 1:

For Q2) i discussed less supernormal profits leading to less innovation/dynamic efficiency. I drew a tax diagram and discussed how it can also lead to reduction and hit-and-run from other firms as well as less competition as profit is reduced temporarily.
Is there anything I missed? What mark do you guys think I'd get approximately?

Reply 985

Bethany09

2

Original post by arsenalfc97

i'm worried about my 5 marker haha- does it count as a significant point just to say that for a specific firm, whilst costs increased by x% during the period from 2010-12, prices increased by x%.

omg i did this too! I hope it does count

Reply 986

Miser101

16

Anyone mention this in their essay, fresh of the press!!

Reply 987

Chisanakotei

Did anyone talk about privitisation for the essay in context 1..?

Reply 988

Rian7

2

Sweet lord, thanks for not mentioning labour markets in the context questions! So happy w/ the exam tbh.

Btw, i don't know how much will i get on the 5 marker, i just compared the % changes in the electricity prices and that.

10 marker - I didn't even fully understand the question but i said the effect of the tax won't hurt them as it will only decrease their profit margin but since they're in collusion (assumption w/ the 'Big Six') they're making supernormal profit anyway since one of the advantages of collusive behaviour was that they take out 90% of the profit and leave 10% or so to the small markets.

All the others were fine though, not doubting anything so i won't write up what i've wrote.

Hope everyone found it okay, personally with not much revision i found it quite easy but that means grade boundaries will be killing grades :/

Reply 989

Bethany09

2

FOR ESSAY 3 15 MARKER:
I spoke about different salaries because caused due to discrimination?? Nurses stereotypically female so less pay than bankers? Is this wrong?
My other factor was barriers to entry so Bankers needing higher qualifications hence why pay is higher?

What did everyone else write for this q?

Reply 990

Artur96

5

This paper was horrible, especially 2nd question of Context 1...
The essays weren't too bad though. I'm guessing I won't be getting A for economics now.
I did Essay 2 and talked about kinked demand and competition policy.

(edited 8 years ago)

Reply 991

MrBowcat

10

Original post by Bethany09

Context 1:

For Q2) i discussed less supernormal profits leading to less innovation/dynamic efficiency. I drew a tax diagram and discussed how it can also lead to reduction and hit-and-run from other firms as well as less competition as profit is reduced temporarily.
Is there anything I missed? What mark do you guys think I'd get approximately?

I wrote how supernormal profits could be reinvested and can lead to dynamic efficiency

Reply 992

Jurge

2

Original post by Bethany09

FOR ESSAY 3 15 MARKER:
I spoke about different salaries because caused due to discrimination?? Nurses stereotypically female so less pay than bankers? Is this wrong?
My other factor was barriers to entry so Bankers needing higher qualifications hence why pay is higher?

What did everyone else write for this q?

Nah discrimination is a good one, I didn't think of that. However I might have talked about Becker's taste model rather than just the fact that they are women so are paid less, you could have got more analysis in there. I wrote about derived demand, MRP, elasticity of supply of labour and trade unions demanding a higher wage.

Reply 993

Alexandrite

2

I got halfway through the oligopoly essay question 25 marker and just thought "****.....should have done that perfect competition one".

Otherwise though good paper, I was feeling very happy until I got out and found everyone else found it quite good even the students who usually struggle, then saw this thread and the sentiment was shared so my confidence in getting an A* has gone but hopefully the boundaries don't become insane and I still get an A.

Reply 994

Schmitzel

2

CONTEXT 1 - 25 MARKER

I don't know whether its level 3, 4 or 5, but here you go.

context 1 25 marker example.jpg

(edited 8 years ago)

Reply 995

Buses

9

Original post by MrBowcat

I wrote how supernormal profits could be reinvested and can lead to dynamic efficiency

same for one of my paragraphs I said public ownership means less likely to see gains from R+D and dynamic efficiency, so consumers lose out from severely reduced innovation in the market. I drew monopoly diagram etc.

Reply 996

Alexandrite

2

Original post by Artur96

This paper was horrible, especially 2nd question of Context 1...
The essays weren't too bad though. I'm guessing I won't be getting A for economics now.
I did Essay 2 and talked about kinked demand and competition policy.

Second question of context 1 was a little tricky imo but for those questions you get given a mark each time you say anything that might make sense so I wouldn't worry too much. Plus it's 4 marks for the definition alone and that part was at least pretty easy.

(edited 8 years ago)

Reply 997

Wojtek97

6

Original post by Marcellotrotta95

I also did.

me too

Reply 998

Jurge

2

Did anyone mention that in context 1, nationalization of the electrical market was actually not viable right now due to the current public sector net deficit of £1254.3bn and given the recent drive of trying to reduce this?