F583 - Economics of Work and Leisure - June 2014

Original post by RebelV005

Q4

What did you say for the measuring of Unit Labour Costs?

Defined it: total labour costs per unit of output. Then explained the calculation was total labour costs/output.

Reply 482

Pokims1996

Original post by ItsJustMe17

My calculator was being all funky rounding all my answers up! :frown:

So for 1999 I got 60% (even though it was 50-something with a decimal) and 2010 80% (even though it was like 70-something percent with a decimal) but my calculator kept rounding my numbers up. Hope i still get a mark though :/ What do you guys think??? :confused:

If you wrote down the calculation of (number of multiplex/number of total cinemas)x100 then you might get a mark or two. I doubt they'll be lenient and will expect the correct figure to at least a decimal point :/

Reply 483

ItsJustMe17

14

Original post by Pokims1996

For the first one i basically explained MRP and also said that supply factors need to be considered and based an evaluative point off of elasticities

For the second one i did something quite similar to this but concentrating on wage determination/disparities instead of quantity of labour employed!

What about you? :smile:

Yeah I also explained MRP (obviously LOL), then talked about other factors that could affect the quantity of demand for labour such as derived demand and the wage rate. Yeah I also talked about elasticities as well. Aw man I guess I should have said something about supply side also :/
For the second one I did as you did, focusing on wage determination. What did you write for the given factor (demand side??) I was so confused about this one. But basically I wrote for this essay how wages are affected by the level of MRP people have, derived demand (impact on wage though not quantities of labour), discrimination and trade unions/monopsonist employers. Hope i went along the right lines lol

Reply 484

ItsJustMe17

14

Original post by Pokims1996

If you wrote down the calculation of (number of multiplex/number of total cinemas)x100 then you might get a mark or two. I doubt they'll be lenient and will expect the correct figure to at least a decimal point :/

Yeah Im hoping I get at least 2/3 :/

Reply 485

RebelV005

5

Original post by gs1996

Defined it: total labour costs per unit of output. Then explained the calculation was total labour costs/output.

Wasn't output basically 40? Because that cinema has only 1 screen with 40 seats?
So we could have worked out cost of labour per seat occupied?

I did the fraction too

Reply 486

Original post by Pokims1996

If you wrote down the calculation of (number of multiplex/number of total cinemas)x100 then you might get a mark or two. I doubt they'll be lenient and will expect the correct figure to at least a decimal point :/

Was a difference of 17% wasn't it? :colondollar:

Reply 487

ItsJustMe17

14

Original post by RebelV005

Q4

What did you say for the measuring of Unit Labour Costs?

Yeah like the other person replied to you, I did the definition but i think the calculation i wrote to figure out unit labour costs was wrong lol.

Reply 488

Original post by RebelV005

Wasn't output basically 40? Because that cinema has only 1 screen with 40 seats?
So we could have worked out cost of labour per seat occupied?

I did the fraction too

I'm not sure. I didn't calculate it, I should have said number of seats instead of output also but they may let it slide...

Reply 489

Original post by ItsJustMe17

Yeah like the other person replied to you, I did the definition but i think the calculation i wrote to figure out unit labour costs was wrong lol.

It's definitely TLC/O. I luckily came across it a month ago and Googled it...

Reply 490

Pokims1996

Original post by ItsJustMe17

Yeah I also explained MRP (obviously LOL), then talked about other factors that could affect the quantity of demand for labour such as derived demand and the wage rate. Yeah I also talked about elasticities as well. Aw man I guess I should have said something about supply side also :/
For the second one I did as you did, focusing on wage determination. What did you write for the given factor (demand side??) I was so confused about this one. But basically I wrote for this essay how wages are affected by the level of MRP people have, derived demand (impact on wage though not quantities of labour), discrimination and trade unions/monopsonist employers. Hope i went along the right lines lol

Unfortunately for part a, it was how MRP affects the quantity of labour employed and not the quantity of labour demanded , so knowing OCR they're gunna come down on people who didnt include supply side factors. :/
for part b, MRP theory could be used as a demand-side explaination (MRP=wage), and I wrote a small bit about trade unions at the end.

It wasn't easy by any means, good luck to you :smile:

Reply 491

oxxxo

i think I got a D/E.......cant go uni

Reply 492

Pokims1996

Original post by gs1996

Was a difference of 17% wasn't it? :colondollar:

Um.. Not quite sure, I didn't put an exact figure down for the % rise! I got 50something and 75.something! :') I think I can get the third mark by just saying there was a rise (hopefully) :')

Reply 493

Original post by faithiskey

Hi fas i did the eassay on monopsony but i couldnt remember the monopsony diagram so i drew this instead... does it still apply seeing as i explained the whole thing

Posted from TSR Mobile

thats a monopoly diagram, not a monopsony one! there's no way they would mark that correct, it's completely irrelevant to the question

Reply 494

Ben_S96

4

Original post by Kuchkuchhotahai

Noice, did you basically copy and paste memorised answers from June 13 section A?

I basically went hawk on poverty the night before! I expect to drop marks for the 15 marker though, only got in 3 points?

I Brought in Lorenz curve, Gini coefficient and unemployment for part a and then limitations of reforming the tax and benefits system (politically mainly) NMW and greater spending on training and education for part b. What did you discuss?

(edited 9 years ago)

Reply 495

Original post by gs1996

It's definitely TLC/O. I luckily came across it a month ago and Googled it...

yeah its total labour costs / output. i probably only got 1/3 for that, mentioned that it was total labour costs/output, but then said that it was effectively wages/productivity as wages were a significant factor in a cinema's total labour costs. didn't mention anything about output being the number of seats or anything :frown:

Reply 496

NottsYellowJnr

1

Original post by Pokims1996

Unfortunately for part a, it was how MRP affects the quantity of labour employed and not the quantity of labour demanded , so knowing OCR they're gunna come down on people who didnt include supply side factors. :/
for part b, MRP theory could be used as a demand-side explaination (MRP=wage), and I wrote a small bit about trade unions at the end.

It wasn't easy by any means, good luck to you :smile:

But surely if it asked about changes in MRP effecting the quantity employed where do you bring supply side factors into that?

(edited 9 years ago)

Reply 497

for the economies of scale one, i put managerial and technological economies of scale (although spelt technological wrong in the exam...don't ask) how about others?

Reply 498

Original post by Pokims1996

I wrote this too! Almost phrase for phrase :rolleyes:

lets hope it right then, otherwise we're both screwed :tongue:

Reply 499