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OCR F581 Markets in Action - 11 May 2015

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Original post by justfly
Can someone help me on the essay questions! I always get capped on 10 marks! Does anyone have any model essays I can look at?

Answers vary depending on the question, I am assuming you can't reach L3 band 2. You can look at the mark scheme to have an idea on what's missing.
Original post by keynes24
Answers vary depending on the question, I am assuming you can't reach L3 band 2. You can look at the mark scheme to have an idea on what's missing.


I do my definitions etc and do my diagram for what the question is asking for like a subsidy buts its the points after where I'm confused on what to write such as a negative externalities diagram etc
Original post by justfly
I do my definitions etc and do my diagram for what the question is asking for like a subsidy buts its the points after where I'm confused on what to write such as a negative externalities diagram etc


In the last few years a negative externality diagram was not required for the 18 marker. Definitions and diagrams (without explanations) are not part of L3 or L4. What you need to write depends on what the question is, you need to learn the requirements depending on what possible questions could come up. E.g. Market failure solutions : mention reduction in overconsumption and reach allocative efficiency. You can get that information by looking at the mark scheme
Original post by keynes24
In the last few years a negative externality diagram was not required for the 18 marker. Definitions and diagrams (without explanations) are not part of L3 or L4. What you need to write depends on what the question is, you need to learn the requirements depending on what possible questions could come up. E.g. Market failure solutions : mention reduction in overconsumption and reach allocative efficiency. You can get that information by looking at the mark scheme


The second to last questions on each F581 paper always be's tricky aswell
Reply 264
Avatar for Pato1
Pato1
13
F581 is a pain the ass.
Original post by Pato1
F581 is a pain the ass.


which topic is the most painfuuuul? just curious
Original post by Super199
Right if I write an essay will you guys be kind enough to give me some feed back?


yeah bud!
Reply 267
Avatar for meowie
meowie
1
Any ideas what may come up this year? & Possible thoughts on the 18 marker?
Can someone explain what state provision and information provision is?
I made some notes on Unit 1 and 2. Hopefully you find them useful :smile:

Unit 1 Notes:
http://www.mediafire.com/view/4ait8a...vel_Notes.docx

Unit 2 Notes:
http://www.mediafire.com/view/1blv5a...Finished).docx
Does anyone have the 18 marker from last year? I can't remember what it was but I guess I did bad on it seeing as I'm resitting this year.

Also, what diagrams should be used to regulation/bans?
It's at the end of my unit 1 revision notes with a model answer as well.
http://www.mediafire.com/view/4ait8abiwje9964/Economics_AS_Level_Notes.docx
Original post by ollieui
Does anyone have the 18 marker from last year? I can't remember what it was but I guess I did bad on it seeing as I'm resitting this year.

Also, what diagrams should be used to regulation/bans?

Discuss whether indirect taxation is the most effective policy measure to correct the market failure arising from the negative externalities of production.
Does anyone have any concise notes on benefits/drawbacks of subsidies/taxation/regulation/tradeable permits etc I expect they will be useful for the 18 marker.

Cheers
Original post by OrionMusicNet
It's at the end of my unit 1 revision notes with a model answer as well.
http://www.mediafire.com/view/4ait8abiwje9964/Economics_AS_Level_Notes.docx



Wow very informative
Did you do the notes as you went through the spec?
Original post by OrionMusicNet
It's at the end of my unit 1 revision notes with a model answer as well.
http://www.mediafire.com/view/4ait8abiwje9964/Economics_AS_Level_Notes.docx



"You have to mention basically every specific point you can for this that you think will be on the mark scheme otherwise you will definitely be capped. If you don’t memorise them you’ll be screwed."


You said in your notes the above ,which by the way are excellent and informative! Can you please list all these specific points please?
Original post by justfly
"You have to mention basically every specific point you can for this that you think will be on the mark scheme otherwise you will definitely be capped. If you don’t memorise them you’ll be screwed."


You said in your notes the above ,which by the way are excellent and informative! Can you please list all these specific points please?


I believe the points he is referring to is related to L3 band 2 and that varies with the question.
Reply 277
Avatar for Yousf
Yousf
13
HELP!! I still don't understand how to form an 18marker essay on regulation. How do i go about talking about regulations? I mean in an exam how can i get an example of regulation(do i make one up based on the article given) i understand the pro's and con's. But how do i go about dicussing regulations. Basically how would i structure an essay based on regulations to correct market failure?
PLEASE HELP, THANK YOU!
Original post by Yousf
HELP!! I still don't understand how to form an 18marker essay on regulation. How do i go about talking about regulations? I mean in an exam how can i get an example of regulation(do i make one up based on the article given) i understand the pro's and con's. But how do i go about dicussing regulations. Basically how would i structure an essay based on regulations to correct market failure?
PLEASE HELP, THANK YOU!


It has been discussed before, if you go a few pages back I posted one and other have done the same. Have a look and try to come up with a structure, if you post it I can give you some feedback.
Original post by justfly
"You have to mention basically every specific point you can for this that you think will be on the mark scheme otherwise you will definitely be capped. If you don’t memorise them you’ll be screwed."


You said in your notes the above ,which by the way are excellent and informative! Can you please list all these specific points please?


If you look on the mark scheme for that paper you will see the L3 Analysis points which is where most people get capped. If you memorise those few analysis / L3 points but oof course jsut apply it to each question so:
1. "effectively increase/decrease cost of production",
2. what this does to the the supply curve,
3. how it affects price and quantity,
4. stating that overproduction or overconsumption is solved due to lower quantity,
5 + 6. just stating that the market moves closer to a point of allocative efficiency and that welfare is increased
This depends though on whether the market failure is a negative externality or positive one, if it's positive then it would be underproduction or underconsumption. Additionally if you chose information provision to be your solution then for the first analysis point I would change it to "the increased information provision will stimulate demand causing it to increase" + "saying where demand shifts from so e.g. "D to D1" and the rest should stay the same. Hope that helps .
(edited 8 years ago)

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