OFFICIAL OCR ECONOMICS F581 13th MAY 2014 THREAD**

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I'm actually not quite sure on the grade boundaries. There are lots of people saying "that was a really easy paper", and also lots of people that only did one shift in in D/S diagram, and people who did disadv/adv of specialisation, but not specifically for the firm.

There were lots of places to lose marks, and the penultimate question was terrible. Grade boundaries I think will be around average? Can't really tell though

I'm thinking 46/60 for an A because of that penultimate question, pretty sure I've got 0 on it :frown:

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Reply 281

Randomer96

The specialisation question wasn't related to airfix. It said a firm 'like airfix' so it was a general question imo. The demand and supply diagram definitely had shifts of both supply and demand because it asked for the diagram specifically about the spitfire. It literally stated in the case study that demand for the spitfire increased after the commercial, and it also said that production was more efficient so supply must have shifted.

Reply 282

SweatyGoldfish

Original post by Knowing

Population actually comes under tastes and preferences.

Pretty sure it doesn't. Or at least not on previous year's papers.

Reply 283

Knowing

Original post by Randomer96

Regardless, you would've still needed an advantage and disadvantage to a firm. An answer such as "Depletion of natural resources" wouldn't be right? I think.

Reply 284

esmail777

i wrote the same jus the dint write depletion part and instead wrote that more outputs will cause more pollution which will lead to the chinese govt introducing the tax and this will increase costs for airflix

Reply 285

Knowing

Original post by SweatyGoldfish

Pretty sure it doesn't. Or at least not on previous year's papers.

Population includes changes in structure of population, e.g. greater proportion of old people leading to a change in tastes. Also a greater number of people, possibly due to immigration, also changes tastes (e.g. polish immigrants -> greater demand for polish food).

We've been told population is part of T&P anyway - it's not one of the determinants of demand.

Reply 286

SweatyGoldfish

Original post by Knowing

Regardless, you would've still needed an advantage and disadvantage to a firm. An answer such as "Depletion of natural resources" wouldn't be right? I think.

Could be if you linked it to how that firm could run out of resources to produce the good, couldn't it?

Reply 287

Randomer96

Original post by Knowing

Regardless, you would've still needed an advantage and disadvantage to a firm. An answer such as "Depletion of natural resources" wouldn't be right? I think.

Yeah that seems very very general. I did the advantage as more efficient production, therefore greater output. Disadvantage that the jobs can be repetitive and boring leading to depression and even suicides which could cause bad publicity for the firm.

Reply 288

clara16

I got my calculation wrong! Easy 2 marks lost... Answer should have been 0.2 and i got 5 as my explanation was about it being a positive value and hence a normal good i should still get these marks right?

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Reply 289

esmail777

Original post by nKolundzic97

population? could someone have spoken about that

population should be right i wrote that too
if you check mark schemes for previous questions similar to this population is credited

Reply 290

brenkongroup

Original post by clara16

I did the same as long as the explanation is in relation the your calculation it should be fine. Pissed off so much that I mucked that up. I even has the right answer but changed it....>.>

Reply 291

Knowing

Original post by esmail777

population should be right i wrote that too
if you check mark schemes for previous questions similar to this population is credited

Ok you may get the mark for population, but I'm not sure.

Reply 292

Knowing

Original post by clara16

Original post by brenkongroup

I did the same as long as the explanation is in relation the your calculation it should be fine. Pissed off so much that I mucked that up. I even has the right answer but changed it....>.>

You will probably get the mark for it being a normal good :tongue:

I also wrote about how 0.2 meant it was income inelastic, so a change in income will lead to a relatively smaller change in quantity demanded.

Reply 293

ZQ110

Original post by JellyCat99

Also, any chance of anyone doing an unofficial markscheme????

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These are the Questions I remember:

1) Define opportunity cost (2)
2) Describe the opportunity cost that Airfix had (2)
3) Give 2 factors of production (2)
4) Explain 1 advantage and 1 disadvantage of Specialization to Airfix (4)
5) Using diagram show how price is determined (3)
6) Show what happened to equilibrium when production moved to China and advertisement increased? (6)
7) Other than taste and fashion, explain two other factors that will shift demand (6)
8) Calculate the YED (2)
9) Describe how this figure is useful to Airfix (3)
10)Comment the usefulness of PED figures to businesses (6)
11)Comment on the extent to which the Chinese government should reduce Negative externalities from production (6)
12) Discuss whether Indirect taxes are the most effective method of reducing Negative externalities from production? (18)

Sat this exam for the first time,
I found that Q4 and Q11 where slightly different....

I put a disadvantage of specialisation is that a fall in demand for those products would cause loss and reduce income- excess Supply.

Reply 294

justfly

SOMEONE HELP! For the determinants of demand, I put income and population...is that valid?

AND for the second to last question, I feel like I muffled it, I talked about firms ignoring the external costs to society such as pollution...

help:/

Reply 295

ScienceGeek!

I think the grade boundaries can't be that high even though lots of people thought it was easy.

Lots of places to slip up like specialization, not shifting both demand and supply, second to last question and I bet loads of people didn't realize the elasticity question switched from income to price half way through. Also on last question lots of people will not adequately link it to negative production externalities.

Thoughts?

Reply 296

nKolundzic97

Original post by Knowing

You will probably get the mark for it being a normal good :tongue:

I also wrote about how 0.2 meant it was income inelastic, so a change in income will lead to a relatively smaller change in quantity demanded.

I put -0.2 because I stupidly thought that it was a fall indemand so it would be negative, I should get a mark for the correct equationthough.
My response after that was general, I think I covered mytracks by saying that it was an inferior good but they should wait for a recessionas inferior goods decrease in demand as income increases, and then went on tosay something else for normal goods. Hopefully I’ve scraped a mark somehowhaha.

Reply 297

JellyCat99

I didn't really do a conclusion :s-smilie:

Anyone know how many marks I've lost without it??

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Reply 298

esmail777

Original post by Knowing

look at jan 2010 paper they credit population
http://www.ocr.org.uk/Images/63391-mark-scheme-january.pdf
question 3 b

Reply 299

nKolundzic97

Original post by justfly

Income and population should be valid, so you should have 6marks there as long as you explained it correctly.
The second to last question was difficult, but if you did anegative externality diagram and explained key terms in negative externalityand deadweight loss you should be looking at 3-4 marks if you provided anexample. The marks should come from your evaluation too of it I think