AS econ edexcel exam 2022/ 16 may

Original post by Kkton2345

Did anyone talk about minimum prices for the 20 marker (Edexcel)? I’m not sure if it’s correct

yes, i talked about minimum pricing, indirect tax and subsidies to substitutes

Reply 82

vinay2208

Original post by Kkton2345

I did 3 points: minimum price, indirect tax and extended property rights. But now I’m not sure whether a minimum price was correct

did u add a lot of context? i could barely find any

Reply 83

Kkton2345

12

Original post by vinay2208

did u add a lot of context? i could barely find any

Nah I barely used anything, all I remember is some stat about 90% of cod being gone or something

(edited 1 year ago)

Reply 84

Original post by Kkton2345

Did anyone talk about minimum prices for the 20 marker (Edexcel)? I’m not sure if it’s correct

it depends on which one you chose, but if you chose g, the policy one, yes it'll be correct, because you'll be reducing consumption, so overfishing won't be needed as there's less demand

Reply 85

Kkton2345

12

Original post by Bleu_

it depends on which one you chose, but if you chose g, the policy one, yes it'll be correct, because you'll be reducing consumption, so overfishing won't be needed as there's less demand

Yh I chose that one. Thanks 🙏

Reply 86

niggha

2

Original post by Miasmarome

yh same but for evaulation, i said in long term, their supply is diminished so theyre not acting rationally enough to think about long term consequences

Yh i said about shifting AD using monetary policy like interest rates too

Reply 87

Miasmarome

OP

13

Original post by niggha

Yh i said about shifting AD using monetary policy like interest rates too

for micro??

Reply 88

vinay2208

Original post by Miasmarome

for micro??

icl i think hes trolling

Reply 89

TrenchKidd

Original post by Kkton2345

Did anyone talk about minimum prices for the 20 marker (Edexcel)? I’m not sure if it’s correct

yh i did

Reply 90

slowrecall

1

What did you guys put for the Rational Behaviour question?

Edit: I talked about how businesses behaved rationally because they want to maximise utility by making sure they are maximising profits.

However I said they’re not behaving rationally because they are not taking external costs into account as a result of their actions.

(edited 1 year ago)

Reply 91

Kkton2345

12

Original post by slowrecall

What did you guys put for the Rational Behaviour question?

Edit: I talked about businesses how behaved rationally because they want to maximise utility by making sure they are maximise profits.

However I said they’re not behaving rationally because they are not taking external costs into account as a result of their actions.

I said rational in short term because it maximises profits but not rational in long term as they’re depleting their supply

(edited 1 year ago)

Reply 92

TrenchKidd

Original post by Kkton2345

I said rational in short term because it maximises profits but not rational in long term as they’re depleting their supply

isnt that only one point and one evaluation? dont you need 2 for 10 markers

Reply 93

Original post by TrenchKidd

isnt that only one point and one evaluation? dont you need 2 for 10 markers

nope you can get away with 1 point and 1 evaluation if they're good enough. I could also only think about those two so I just went with them. Just included a diagram along with it to get some extra marks.

Reply 94

TrenchKidd

Original post by Bleu_

nope you can get away with 1 point and 1 evaluation if they're good enough. I could also only think about those two so I just went with them. Just included a diagram along with it to get some extra marks.

so what i did was :
i defined negative externalities
one reason is that they are acting rationally because they are a firm who's incentive is to maximise profits

one evaluation which is that there are negative production externalities that cause marginal social costs

and a negative production externality diagram

that should be good

(edited 1 year ago)

Reply 95

Original post by TrenchKidd

so what i did was :
i defined negative externalities
one reason is that they are acting rationally because they are a firm who's incentive is to maximise profits

one evaluation which is that there are negative production externalities that cause marginal social costs

and a negative production externality diagram

that should be good

yup i did the exact same thing apart from the negative externalities definition. I just told them about what the rational decision of firms and consumers were

Reply 96

arnav0000

Original post by Bleu_

nope you can get away with 1 point and 1 evaluation if they're good enough. I could also only think about those two so I just went with them. Just included a diagram along with it to get some extra marks.

what diagram did u include? supply shifting outwards?

Reply 97

Original post by arnav0000

what diagram did u include? supply shifting outwards?

nope, for the 10 marker, i used the externalities graph. Since external costs will be more as time goes on, that's why it was irrational for them in the long term

Reply 98

Hggjk