Anyone know the prediction or most like to come up on the economics paper starting tomorrow
Economics Plus Dial Paper 1 livestream
17 May 2023 19:46
- Very technical - Questions might not be what you want - If they're awkward, read the question very carefully to see what the question is actually asking - Find a link ○ 25 marker discuss if the internet should be provided free for all by the government ○ Take a pause, positive externalities by consuming internet ○ State provision to solve underconsumption § Market failiure ○ Discuss whether loss making firms must be managed inefficiently § Whatdoes is link to § Inefficiencies § Diseconomies of scale § Market structure - Time management is necessary ○ Use the clock as a visual aid - Essay plan will speed up writing for 25 markers - Use the extract to drive my argument. Linking to extract ○ Pure economic theory should follow - Diagrams, Diagrams, Diagrams - No rule on a limit for diagram or any rule - Draw them when they can help illustrate what I write - Indirect tax subsidy min price max price areas - Cost to the gov on sub, intervention buying min price, Prod consumer incidence and revenue - Be prepared to shift cost and revenue curves - Market structure, labour structure and market failure - Static vs dynamic efficiency - Static efficiency but dynamic ineficcienty - Consumers willing to pay higher than MC for dynamic efficiency. Apple technology for instance - Static efficiency is more significant for groceries - Role of regulation to overcome the role of monopoly abuses
- Monopoly regulation
- Labour market - Market failiure content has a random example of where positive or negative externalities exist. - How is it fixed - Always look out to market solutions to market failure ○ Prof motivated firm finding a gap in market for profit ○ Examiners always talk about it. ○ Plastic waste - Government intervention can cause government failiure - Impact of heavy handed government intervention on our liberties - Plan essays in 4 mins