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F583 - Economics of Work and Leisure - June 2014

i did the poverty question because i had revised it well the day before and didnt learn monopsony and i did a wage determination question in the mock and didnt get the right end of the stick at all! thought it was a very ok paper! ( dont want to jinx it though! :-))

Reply 541

Rheannan

5

Original post by feeltofollow

what do people think the chances of the grade boundaries being similar to january 2013 are? i thought the paper was so nice but i think high grade boundaries could cause me big problems haha

what were jan 13? whats the average for an A? i have no idea!

Reply 542

kiac

5

Original post by Rheannan

i have no idea because cinemas have such high barriers to entry so i put that it may be contestable in the smaller individual cinemas but highly unlikely! i put for that the labour cost per amount of seats sold in a film per time period!

I did labour costs per tickets sold so hopefully we're on the right lines haha, and i did that in the smaller scale the cinema industry would be contestable but on a larger scale it isnt, definitely think i've lost marks in that bit though

Reply 543

feeltofollow

Original post by Rheannan

what were jan 13? whats the average for an A? i have no idea!

A is usually low 40s and a B is usually high 30s, but jan 13 it was 47 for an A, 42 for a B and 39 for a C :frown:

Reply 544

Rheannan

5

Original post by kiac

I did labour costs per tickets sold so hopefully we're on the right lines haha, and i did that in the smaller scale the cinema industry would be contestable but on a larger scale it isnt, definitely think i've lost marks in that bit though

yeah i really struggled to find a 'for' argument for it which is what the question was actually asking!

Reply 545

ItsJustMe17

14

Original post by OODST

For question 3a I spoke about what influences changes in Mrp (mr and mp) and then noted how an increase in either will lead to a higher increase jn demand as employing more workers will lead to higher revenue (obviously I wrote more ... Did anyone go along similar lines???

I messed up this question SO BADLY. Can you explain what affects mrp please :frown:

just want to see if i went along these lines. I also started talking about other factors but its all wrong now :frown:

i just didn't have a lot to say about mrp

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Reply 546

feeltofollow

For the economies of scale question i put that increased capacity means they can screen films for the same price but get more revenue from it so unit costs decrease, does that count? for the other one i just put about marketing contracts i totally blanked

Reply 547

**Heart & Soul**

2

WAIT? on the contestable markets question when it said to reference the source did we have to do so in detail? I think I just referred to it briefly but mostly used own knowledge on the market + common sense?
Ah I'm panicking now....

Reply 548

OODST

Original post by ItsJustMe17

I messed up this question SO BADLY. Can you explain what affects mrp please :frown:

just want to see if i went along these lines. I also started talking about other factors but its all wrong now :frown:

i just didn't have a lot to say about mrp

Posted from TSR Mobile

I'm not too sure myself but what I deceives is more or less what I did, I was hoping someone else could help me loool

Reply 549

LFR

Original post by OODST

For question 3a I spoke about what influences changes in Mrp (mr and mp) and then noted how an increase in either will lead to a higher increase jn demand as employing more workers will lead to higher revenue (obviously I wrote more ... Did anyone go along similar lines???

I did exactly the same as you, I thought it was a simple question of factors that affect MRP and how shifting MRP affects the quantity of labour? don't see what elasticities of supply would have to do with it

Posted from TSR Mobile

Reply 550

username963570

21

Original post by ItsJustMe17

I messed up this question SO BADLY. Can you explain what affects mrp please :frown:

just want to see if i went along these lines. I also started talking about other factors but its all wrong now :frown:

i just didn't have a lot to say about mrp

Posted from TSR Mobile

I didn't do this question, I did the monopsony one but I might still be able to help - what was the question you did, as in the title?

Reply 551

ItsJustMe17

14

Original post by LFR

I did exactly the same as you, I thought it was a simple question of factors that affect MRP and how shifting MRP affects the quantity of labour? don't see what elasticities of supply would have to do with it

Posted from TSR Mobile

What are the factors though ? Lol

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Reply 552

username963570

21

Original post by **Heart & Soul**

WAIT? on the contestable markets question when it said to reference the source did we have to do so in detail? I think I just referred to it briefly but mostly used own knowledge on the market + common sense?
Ah I'm panicking now....

Nah aslong as reference was made to the case study atleast once then you should be fine, but there was quite a lot of stuff in the case study to suggest the market was contestable.

Reply 553

Kuchkuchhotahai

15

Original post by thunguyen168

I did q4 too. But it said in the UK, I wonder if we had to put specific info about the UK

Posted from TSR Mobile

Well yes, according to previous mark scheme to get in the top band of answers we had to "apply" our theories. I just spoke about relative poverty for most of it haha.

Reply 554

Kuchkuchhotahai

15

Original post by Ben_S96

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?

No different to you, although I discussed that regional pay differences with other underlying factors as a cause for poverty in the 15 marker.

Reply 555

Kuchkuchhotahai

15

Original post by RebelV005

LOL yh my progressive taxation answer was basically the June 13 MS although I expanded on it etc.

Did u talk about an alternative policy?

Yes I spoke about an alternative policy, mainly something education and training related so that people can become more occupationally mobile. Leads to them getting a job, earning money etc...

Reply 556

username963570

21

Original post by Rheannan

yeah i really struggled to find a 'for' argument for it which is what the question was actually asking!

This for the contestability one?

For the "for" argument i basically put :

-cinema operators were taking advantage of economies of scale which meant they were becoming more productively efficient, and since productive efficiency is a characteristic of a contestable market this shows the market may be described as contestable.
-case study mentioned how more and more multiplex cinema operators were entering the market, suggesting barriers to entry were falling hence the market was becoming contestable as a lack of barriers to entry is a feature.
-Corn exchange was able to remain price-competitive with Vue which is a large cinema firm, suggesting that there was a lack of supernormal profits, as the price was clearly low enough for Corn exchange to remain price competitive. (Not sure about this last one at all, was taking a big gamble)

Reply 557

Luke.95

for the people that did monopsonist essay, for part B I said because the government control the power of trade unions then the existence of trade unions was a type a government inervention (for my AO3) then talked about how this could cause other labour mark failures for my AO4, do you think this would be acceptable or could you only talk about trade unions as being another method?? :/

Reply 558

username963570

21

Original post by Kuchkuchhotahai

Well yes, according to previous mark scheme to get in the top band of answers we had to "apply" our theories. I just spoke about relative poverty for most of it haha.