AS Economics AQA unit -1 (2014 May)

What did everyone put on the last multi choice?! Was it elastic suppy?

I used ongoing ankylosis and overall evaluation but I'm worried that because I talked about buffer stocks to have a stable price for the farmers that I won't get marks and the essay flopped... I did talk about market forces and how they wouldn't allocate resources. Am I doomed???

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Reply 42

jamespark

Original post by Thevasil

I used ongoing ankylosis and overall evaluation but I'm worried that because I talked about buffer stocks to have a stable price for the farmers that I won't get marks and the essay flopped... I did talk about market forces and how they wouldn't allocate resources. Am I doomed???

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i don't think you needed to talk about buffer stocks, because it wouldn't have had much relevance- the text didn't say that prices were rising too high, it only said that supply was being used for biofuels

Reply 43

SachinNeedsHelp

5

Original post by Mike34

Hey

does anyone know when the paper will be out ?

Lol quite a while as ppl around the world.may have not done the.exam yet but you can,probably find it illegally after about a day,or so

Reply 44

H0PEL3SS

12

Original post by Economicsgirl08

What did everyone put on the last multi choice?! Was it elastic suppy?

I put inelastic supply.

(edited 9 years ago)

Reply 45

Thevasil

So what do you think I could hope for out of 25?

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Reply 46

yuvalpesh123

Original post by arsenalfc97

i mean for 12 marker

oh yeah, yes correct

All that analysis with a diagram and definition should be 12 marks easy

Reply 47

jamespark

Original post by yuvalpesh123

oh yeah, yes correct

All that analysis with a diagram and definition should be 12 marks easy

fot context 1, if your argument was mainly that they should intervene,- i wrote 3 pages on why they should intervene, and 1 on why they shouldn't because i thought that they should defo intervene, would you lose marks? i also evaluated fully all my points

Reply 48

mo76

I did context 1 5 mark did it with ease, 8 mark was quite straight forward, 12 mark i drew supply and demand with demand going outwards and defined demand and supply, 3 points of comparison just all about the 25 marker! i wrote definition government intervention, market failure, i wrote about unequal distribution of wealth opportunity cost on the poorer people i stated that biofuels generate negative externalities, also drew a subsidy diagram as it stated in extract C that the government have provided subsidies, used 4-5 other prompts and drew buffer stocks, talked about government failure information failure unintended consequences, market mechanism and used a few other points from the extracts.... how many marks you think i will get?

Reply 49

Thevasil

Original post by mo76

I did context 1 5 mark did it with ease, 8 mark was quite straight forward, 12 mark i drew supply and demand with demand going outwards and defined demand and supply, 3 points of comparison just all about the 25 marker! i wrote definition government intervention, market failure, i wrote about unequal distribution of wealth opportunity cost on the poorer people i stated that biofuels generate negative externalities, also drew a subsidy diagram as it stated in extract C that the government have provided subsidies, used 4-5 other prompts and drew buffer stocks, talked about government failure information failure unintended consequences, market mechanism and used a few other points from the extracts.... how many marks you think i will get?

Yeah I talked about buffer stock stabilising prices which increases farmers future income and optimism. Then about the costs of storage and information failures. But I don't know if it was relevant. Will I get marks

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Reply 50

Einstein16

10

Original post by H0PEL3SS

I put inelastic supply.

The question had nothing to do with supply. It talked about incidence of tax being passed on, so I put unitary elasticity of demand.

Reply 51

MidnightDream

16

Original post by Economicsgirl08

What did everyone put on the last multi choice?! Was it elastic suppy?

I heard it was elastic supply :smile:

Reply 52

mo76

Original post by Thevasil

Yeah I talked about buffer stock stabilising prices which increases farmers future income and optimism. Then about the costs of storage and information failures. But I don't know if it was relevant. Will I get marks

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Thats what i want to know!

Reply 53

FlowC

I didn't talk about any possible government intervention I just wrote about why they should and shouldn't intervene, will I still get marks for it? I'm so worried

Reply 54

Jojoestar

Is it just me or did those multiple choice questions seem a bit tougher than the ones in previous years? I usually breeze past them during mock runs but quite a few tripped me up, I think I lost more marks than I should've. I opted for the newspaper questions, had no problem at all with the first three but I didn't give myself enough time for the last question, I didn't evaluate as much as I could have or make enough arguments for government intervention so that's gonna cost me.

Gonna predict a B which is shame really because I was banking on getting straight A's at AS in order to give myself more leeway at A2, just gonna have to manage my time better for the next exam.

Reply 55

H0PEL3SS

12

Original post by Einstein16

The question had nothing to do with supply. It talked about incidence of tax being passed on, so I put unitary elasticity of demand.

Can't be unitary, otherwise the incidence of tax is 50%, when it asked for 100% IOT

Reply 56

d0mm

1

Original post by Thevasil

So what do you think I could hope for out of 25?

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I reckon i got around 21.

I got 12 the first time i sat it and i got a D overall so big improvement expected :biggrin:

Reply 57

FlowC

did we have to mention different government intervention for the 25 marker? :/ bcos I just wrote how they should and shouldn't intervene :frown:

Reply 58

KAKAKA17

12

Original post by FlowC

did we have to mention different government intervention for the 25 marker? :/ bcos I just wrote how they should and shouldn't intervene :frown:

I only wrote about that too so don't worry! The question specifically asked something along the lines of 'Evaluate the view that the government SHOULD or SHOULDN'T intervene...' it didn't state anything like evaluate the best way of intervention or policies that the government should use etc. so we should be fine :smile:

Imagine a question asking 'Evaluate the view that humans need food and drink in order to survive', you would talk about the pro's and cons of them, but you wouldn't necessarily need to say what types of food and drink they need because the question doesn't ask that :cool: