There's guaranteed to be 4 questions. 4,8,12,16 marks each. The last three have 50% evaluation. If you want a more detailed breakdown look at past paper mark schemes.

Reply 23

AdzyN

Despite this unit being the smallest, I definitely feel that this unit has to be the hardest out of alllllll them :/

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Reply 24

areddishherring

Original post by AdzyN

Despite this unit being the smallest, I definitely feel that this unit has to be the hardest out of alllllll them :/

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Too much evaluation required! I find Unit 4 more difficult :/

Reply 25

Edward Cullen

i don't find any of unit is difficult...you gotta read more and practice more. expecting for same grade in edexcel.... how was you guys mock exam results?

(edited 9 years ago)

Reply 26

aminkaram

How do you guys choose which data response question to answer? I sometimes pick the harder question because I rush and am worried about timing. Does anyone have tips for me?

Reply 27

AdzyN

Original post by aminkaram

How do you guys choose which data response question to answer? I sometimes pick the harder question because I rush and am worried about timing. Does anyone have tips for me?

Before attempting the data responses I look at both questions and tick off all the questions which I have general knowledge. Wherever I have the most knowledge is the question I'll choose (regardless on whether I dislike what the extract is on) as knowledge is more important than what's in the text (at least imo)

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Reply 28

Maxted

Original post by aminkaram

There's guaranteed to be 4 questions. 4,8,12,16 marks each. The last three have 50% evaluation. If you want a more detailed breakdown look at past paper mark schemes.

Additionally you should always try and write points that are worth 3 marks but go for the 2+2+... approach, that way you can minimise the amount of marks lost.

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Reply 29

User1248243

Predictions for the questions??

Reply 30

shabba-ranks

Don't bother trying to predict questions, just focus on revision as this unit can be sooo easy if you learn the material.

Reply 31

shabba-ranks

Original post by pineapple78

hi does anyone know like the basic evaluation points for unit 3?

thank you

Time lag is applies to almost everything

Consumer welfare: e.g. monopolies have little incentive to be as efficient as possible since there is no competition, as a result consumers may receive low quality goods/services

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Reply 32

User1248243

Original post by shabba-ranks

Don't bother trying to predict questions, just focus on revision as this unit can be sooo easy if you learn the material.

Yeah i'll revise everything, but just be aware of what hasn't come up or is likely to, to be that extra bit ready :smile:

Reply 33

areddishherring

How's preparation guys?

Reply 34

Edward Cullen

I have completed all the past paper questions and taken may own notes...hope that's ebough... :smile:

Reply 35

rathani278

Guys how to develop the evaluation for the contestabilty of a market??? can anyone give 4 points each worth 3 marks??? coz im not sure about my teachers marking!!!!

Reply 36

aminkaram

Original post by rathani278

Guys how to develop the evaluation for the contestabilty of a market??? can anyone give 4 points each worth 3 marks??? coz im not sure about my teachers marking!!!!

Can you be moree precise please? what's the exact question?

Reply 37

rathani278

Original post by aminkaram

Can you be moree precise please? what's the exact question?

how could you argue saying that a market is contestable despite the barriers involved!!!

Reply 38

Terk

Original post by Swaany

The official thread for the Edexcel economics unit 3 exam in June 2014. Need help or wanna share revision tips/ notes? Please post below! :smile:

Spoiler

Where do you get your notes from? Tutor2u doesnt have much on regulation tbh and that the only source I really use for notes, thanks.

Reply 39

aminkaram

Original post by rathani278

how could you argue saying that a market is contestable despite the barriers involved!!!

So you mean KAA is reasons why it isn't contestable and Evaluation is reasons why they are contestable?

In that reason I would say that firstly in the past this has only come up in 12 markers not 16 markers. The three evaluation points I used if I remember correctly were:
1. The market defined is usually very broad, so some sub markets may be contestable some may be less contestable
2. There may be room for a new firm to enter and steal market share by offering a specialist product. e.g easyjet and ryan air. Kind of like a niche market.
3. This one I'm less sure about but I guess you could argue that barriers to entry which may seem high are not in fact that high (can someone just confirm that this is in fact possible please)

In fact I stand corrected I only recall an 8 marker