Edexcel A Level Economics A Paper 3 (9ECO 03) - 5th June 2023 [Exam Chat]

How did everyone do? Can’t lie I think it went worse than paper 1 and paper 2 but not like terrible

Original post by malymole1

Ran out of time my grade is ****ed💀

Reply 64

gogetter2k19

Please tell me if I messed up or not for the second 12 marker

P1) limit pricing + I also draw a cost/rev diagram
E1) however illegal firms can get fined up to 10% and worsen their brand image damaging sales

P2) Loyalty cards (used Tesco as application and how cafe can implement the same strategy)

E2) however high street retailers suggest a monopolistic competition therefore they may not be able to maintain this in the long run ( I also did a long run monopolistic competition diagram)

Reply 65

IRCC_222

I only wrote 1 micro points and one macro point and a **** conclusion

Reply 66

A1ris

it was actually quite good ngl, i ran out of time for a judgement though for one of the 25 markers unfortunately and had to forgo a bit of an 8 marker. other than that beter than expected

Reply 67

EleaB

Original post by KaylaAllen

How did everyone do? Can’t lie I think it went worse than paper 1 and paper 2 but not like terrible

I was able to barely finish it, but I do think it went worse than paper 1 and 2. Some others said that they thought this was the easiest paper, which really confused me

Reply 68

raj2701

Original post by gogetter2k19

Please tell me if I messed up or not for the second 12 marker

P1) limit pricing + I also draw a cost/rev diagram
E1) however illegal firms can get fined up to 10% and worsen their brand image damaging sales

P2) Loyalty cards (used Tesco as application and how cafe can implement the same strategy)

E2) however high street retailers suggest a monopolistic competition therefore they may not be able to maintain this in the long run ( I also did a long run monopolistic competition diagram)

They are good points. Wish I had gotten your loyalty one

I spoke about collusion for pricing strategies and non pricing is innovation- it spoke about it in the extract.

Reply 69

IRCC_222

Original post by raj2701

They are good points. Wish I had gotten your loyalty one

I spoke about collusion for pricing strategies and non pricing is innovation- it spoke about it in the extract.

I said collusion too because they have price setting power

Reply 70

12tkwjehvu65

did anyone do the firrst 25 marker for the last one

Reply 71

EleaB

Original post by 12tkwjehvu65

did anyone do the firrst 25 marker for the last one

I did the falling housing prices one

Reply 72

IRCC_222

Same I said negative wealth affect and my micro point was improved geographicall immobility of labour

Original post by EleaB

I did the falling housing prices one

Reply 73

Philipp459

2

Same. What did you write for macro and micro point + eval?

Original post by EleaB

I did the falling housing prices one

Reply 74

Philipp459

2

Original post by IRCC_222

Same I said negative wealth affect and my micro point was improved geographicall immobility of labour

You mean worse geographical immobility of labour?? Why would it be better? And for macro I talked about decrease investment and consumption due to fall in confidence. How did you evaluate it?

Reply 75

gogetter2k19

For the 2nd 25 marker I did labour shortages

My points were

P1) macro worsened current account as output falls LRAS shifts in prices increase more expensive exports -> less competitive -> worsened current account of balance of payments

E1) J curve as this will only have a long term effect for example foreign firms may be in contracts with UK firms and cannot switch, exports inelastic in short run however elastic in long run, which means current account may not worsen in the short run

P2) higher prices for consumers as production falls due to a shortage of labour -> higher output per unit cost -> causing firms like Maryland (biscuit company) to ration prices and as excess demand -> therefore higher prices for consumers

E2) however most processes are automated by machinery and Mary land may be exploiting technical economies of scale meaning labour shortage may not cause prices to increase. I also used current news such as AI advancements and how BT is cutting down over 20% of jobs as they are going to be automated meaning labour may not have an effect on prices anymore.

Reply 76

s4mm1d3

3

Original post by Philipp459

You mean worse geographical immobility of labour?? Why would it be better? And for macro I talked about decrease investment and consumption due to fall in confidence. How did you evaluate it?

Improved because housing is more accessible

Reply 77

EleaB