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[AQA] - Economics Unit 1 January 15th - [2013]

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Reply 180
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Son234
Original post by Denacio
I spent way too long on context 1 and ended up missing 4 multiple choice questions :frown:


Why didn't you guess?


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Reply 181
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Son234
Original post by Denso
Just wondering what graph(s) you all used for the 12 mark question in context 2 about corn, soya beans and something else??

I'm unsure if it was an easy paper or hard, I was very rushed and was pretty upset with the time limit :/


Supply and demand diagram showing the subsidies which moves the supply curve from S1 to S2

How about you?


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Reply 182
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Denso
Original post by Son234
Supply and demand diagram showing the subsidies which moves the supply curve from S1 to S2

How about you?


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I panicked as someones phone was playing music and stupidly put down a subsidy and explained how that would decrease price, I've sent an email to my form tutor to complain about the phone it went off for half an hour before the invigilator did anything about it. :'(
Original post by Son234
Supply and demand diagram showing the subsidies which moves the supply curve from S1 to S2

How about you?


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Do you think I've done the diagram one wrong :redface: i did supply and demand but showed an increase in demand from D1 to D2 and then that the government would subside to produce Q2 but with P3.. I thought I was right on that, then explained that the subsidy meant that processed food could be made and sold cheaply


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Reply 184
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Denso
Original post by AlexanderStuart
Do you think I've done the diagram one wrong :redface: i did supply and demand but showed an increase in demand from D1 to D2 and then that the government would subside to produce Q2 but with P3.. I thought I was right on that, then explained that the subsidy meant that processed food could be made and sold cheaply


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I did the second but about a subsidy and how that makes it cheaper, but i'm unsure if thats correct :/
Reply 185
Avatar for Son234
Son234
Original post by AlexanderStuart
Do you think I've done the diagram one wrong :redface: i did supply and demand but showed an increase in demand from D1 to D2 and then that the government would subside to produce Q2 but with P3.. I thought I was right on that, then explained that the subsidy meant that processed food could be made and sold cheaply


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Can you be more specific with the points?

So that i can draw it and see what you mean lol


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How many marks would this be for MPC
I put its when an individual only considers the cost a good/service has on them. Then I just put an example of smoking where smokers only consider their private costs and they do not take into account social costs.
Original post by Son234
Can you be more specific with the points?

So that i can draw it and see what you mean lol


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I did a supply and demand diagram, then got P1 and Q1 from that... then I drew a rightward shift in demand to D2, which pushed the equilibrium price so i got Q2 and P2, I then marked P3 off the D1 curve as that is the price they would charge for Q2 as a subsidy? I think I've done it wrong :/


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If someone posts the paper I can hopefully make an unofficial mark scheme?

can't be bothered to look through all the past pages, what sort of questions were there? Was it difficult?
Reply 189
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s000125
Hey guys... Anyone rmbs the questions for q10??


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Reply 190
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Son234
Original post by Denso
I did the second but about a subsidy and how that makes it cheaper, but i'm unsure if thats correct :/


I mean yeah it does make it cheaper for consumers that's the whole point

But if you be more specific with your points and curves and what shifts you did I can try and help

And I would of been pissed if someones phone was playing music! Would of complained right there and then lol

Also the extract stated " The US subsidies corn soya beans and rice "


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Original post by Alex-Torres
If someone posts the paper I can hopefully make an unofficial mark scheme?

can't be bothered to look through all the past pages, what sort of questions were there? Was it difficult?


Not bad, Context 1 looked horrendous so I did Context two which were:

1) Define 'Marginal Private Cost'

2) Identify two signficant points of the fruit and sugar graph (forgotten proper wording)

3) Use a diagram to explain how subsidising corn, soya and beans is effecting processed foods (again not accurate)

4) Evaluate for and against whether government's should intervene on the market for food and drink.

The case study was about obesity and healthy eating etc.
did people say that the demand for processed demand would increase due to subsidy lowering the price for 12 marker
Original post by AlexanderStuart
Not bad, Context 1 looked horrendous so I did Context two which were:

1) Define 'Marginal Private Cost'

2) Identify two signficant points of the fruit and sugar graph (forgotten proper wording)

3) Use a diagram to explain how subsidising corn, soya and beans is effecting processed foods (again not accurate)

4) Evaluate for and against whether government's should intervene on the market for food and drink.

The case study was about obesity and healthy eating etc.

Sounds fairly easy, especially the 25 mark essay.
Original post by ineedtorevise127
did people say that the demand for processed demand would increase due to subsidy lowering the price for 12 marker


I did, I thought I was talking loads of sense but I'm not sure anymore haha.
Reply 195
Avatar for Son234
Son234
Original post by AlexanderStuart
I did a supply and demand diagram, then got P1 and Q1 from that... then I drew a rightward shift in demand to D2, which pushed the equilibrium price so i got Q2 and P2, I then marked P3 off the D1 curve as that is the price they would charge for Q2 as a subsidy? I think I've done it wrong :/


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I have drawn it and yeah the p2 to p3 is definitely the subsidy

But my understanding is your showing an increase in demand is because of the subsidy which is correct

but i thought it was the suppliers that were being subsidised hence the supply curve is being shifted right

I think the question was why or how the subsiding of corn soya beans affects the market for processed food

I didn't think its consumers that we're being subsidised if you understand my point

But your graph's correct just depends how you explained it


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Reply 196
Avatar for KBarney
KBarney
Anyone got the answers for the multiple choice?
Anyone got the paper?
Original post by Son234
I have drawn it and yeah the p2 to p3 is definitely the subsidy

But my understanding is your showing an increase in demand is because of the subsidy which is correct

but i thought it was the suppliers that were being subsidised hence the supply curve is being shifted right

I think the question was why or how the subsiding of corn soya beans affects the market for processed food

I didn't think its consumers that we're being subsidised if you understand my point

But your graph's correct just depends how you explained it


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Yeah I think that's where I've messed up, my logic was that I was showing how it has benefited consumers... as by the price being reduced it's made the ingredients for processed food extremely cheap and widely available.

Just tweeted my teacher and she said with a good explanation (which I did write) and the diagram labelled correctly I could still get 10/12 or something like that!
Did anyone have these answers for mchoice?
These are the only ones I remember in no particular order

Land owned by firms
Diseconomies of scale
Bus - some question about a bus I think I put inferior good
Price of lamb and something else
Government overproducing a merit good
taxing a car park
subsidise p3p2 i think or something like that
misallocation of resources

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