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AQA Economics Unit 1 Exam Dicussion

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What did you guys get for the

Apple
Orange
Pear
Carrot

I put the the Pear was ineslatic or something like that it was definatley choice C is what i chose
For the diagram question was I right in putting that MSB>MPB and MSC>MPC? Context 1


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Original post by AlexanderStuart
For the diagram question was I right in putting that MSB>MPB and MSC>MPC? Context 1


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well i dont know if you had to put the MSC>MPC because that is for demerit good and university is merit good. but if you put the MSB>MPB then maybe it will be ok if they do positive marking ? Not sure sorry
did anyone do context 2??
Grade boundaries?
Original post by AlexanderStuart
For the diagram question was I right in putting that MSB>MPB and MSC>MPC? Context 1


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Original post by mynameisgrace
well i dont know if you had to put the MSC>MPC because that is for demerit good and university is merit good. but if you put the MSB>MPB then maybe it will be ok if they do positive marking ? Not sure sorry


Other than putting that diagram, what else did you have to write? Like you explain it and that it is a merit good. But what else? :s-smilie:
Original post by theseeker
Other than putting that diagram, what else did you have to write? Like you explain it and that it is a merit good. But what else? :s-smilie:


I explained how the equilibrium point E1 (the point of the MPB and MPC) was what the free market provided, whilst the government want it to be at E2 where the MSB and MSC lines were


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Original post by AlexanderStuart
I explained how the equilibrium point E1 (the point of the MPB and MPC) was what the free market provided, whilst the government want it to be at E2 where the MSB and MSC lines were


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Yeah but what else did you need to write? Is that all?
Original post by theseeker
Other than putting that diagram, what else did you have to write? Like you explain it and that it is a merit good. But what else? :s-smilie:


say about how its a merit good thats underconsumed blaaah like people dont realise the benefits due to imperfect information etc. I think there was a similar past paper question on that.. about a merit good... ill find it..

Because negative (consumption) externalities are not taken into
account (2 marks), such as the effect of drinkers’ behaviour on
other people (2 marks), the marginal private benefit is higher
than the marginal social benefit (2 marks) and so alcohol is a
demerit good (2 marks) and the level of consumption ends up
above the socially optimal level (2 marks).


That was for demerit good. Just say the opposite for merit good.
Reply 29
For the 25 marker on context one i included:
-postive and negs of charging for uni
-direct provision pos + neg
-subsidies pos + neg
however only included the postive externalites and subsidy diagram.
I included definitons and evaluations too with data from the extracts.
Whats the max i could score with only this information, ended up running out of time by the end of the paper.
Reply 30
Original post by MortalKombat
What did you guys get for the

Apple
Orange
Pear
Carrot

I put the the Pear was ineslatic or something like that it was definatley choice C is what i chose


I had no idea so guessed C too :smile:
Original post by theseeker
Yeah but what else did you need to write? Is that all?


Oh i found it

Merit goods are often underprovided because consumers
only consider the private benefits (2 marks) so the positive
(consumption) externalities are not taken into account
(2 marks) so the MPB is less than the MSB (2 marks) the
level of consumption ends up below the socially optimum
level (2 marks) and there is a deadweight loss of social
welfare (2 marks)
Original post by theseeker
Yeah but what else did you need to write? Is that all?


The diagram counts for 6/12 marks, so you just need a chain of thought that identifies a point, explains and then analyses - 2 marks for each = 6.


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Original post by theseeker
Grade boundaries?


80% - A
70% - B
60% - C
50% - D
405 - E
Below 39% = U

The exact marks could be changed considering on the average difficulty of questions.
Original post by katie_evo
For the 25 marker on context one i included:
-postive and negs of charging for uni
-direct provision pos + neg
-subsidies pos + neg
however only included the postive externalites and subsidy diagram.
I included definitons and evaluations too with data from the extracts.
Whats the max i could score with only this information, ended up running out of time by the end of the paper.


Did you use data from the context ?

If so, then I don't see why you wouldn't enter Level 5 - 20 marks or more.
Reply 35
Original post by MortalKombat
Did you use data from the context ?

If so, then I don't see why you wouldn't enter Level 5 - 20 marks or more.


I used maybe 3 quotes and one piece of data. I just feel like a waffled on alot and didn't use enough diagrams. :smile:
Original post by katie_evo
I used maybe 3 quotes and one piece of data. I just feel like a waffled on alot and didn't use enough diagrams. :smile:


Don't panic about diagrams. Better using them sparingly then chucking loads in for the sake of it, you're able to get full marks without using any.


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Reply 37
In my opinion there shouldn't be a time restraint on exams - silly if you ask me.
Reply 38
Original post by MortalKombat
What did you guys get for the

Apple
Orange
Pear
Carrot

I put the the Pear was ineslatic or something like that it was definatley choice C is what i chose



Wasnt there one about grapes being inelastic so the growers revenue would decrease when price drops?
Im pretty sure that was the answer, unless im making the whole grape thing up
Reply 39
for the subsidy definition i put something along the lines of:
A subsidy is a form of government intervention often used in merit goods or goods that have a positive externality. The government helps to increase supply to leads to a cheaper price level therefore output increases.
What would this get?

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