AQA A Level Economics Paper 1 (7136/1) - 18th May 2023 [Exam Chat]

Scroll to see replies

I know i wrote about the NHS but i cannot for the life of me remember what i said or even if it was valid, how do yall remember so much, that whole exam was a blur😭

Yeah the NHS is an example of a monopsony, so you just explain how it has power to set wages.
Also, for one of my points I argued that imposing a NMW is not desirable for services like the NHS cuz it increases cost of production and explained that...
That's all I can remember lol

Reply 521

tomato123g

anyone got a predicted mark scheme?

Reply 522

LamboZen

Original post by Half human

Can also mention how the environment is a public good and people do not have an incentive to take care of it, therefore over-production of the batteries occurs

This logic is actually incorrect because a battery manufacturer will only supply what the market demands. not overproduce just because people can go outside.

Reply 523

stephanie10111

is inflation or deflation likely to come up ?

Reply 524

mxaxnner

Original post by stephanie10111

is inflation or deflation likely to come up ?

I would make sure to cover it since it is quite topical at the moment (so know the pros cons policies etc) - but usually revising that ends up being similar to revising other areas like taxes and the budget deficit etc (which could defo come up)