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OCR F581 Markets in Action - 11 May 2015

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i normally draw diagrams without a ruler?
Original post by Yousf
i normally draw diagrams without a ruler?


Why would you risk it during the exam
Original post by hannb98
Why would you risk it during the exam


You don't get penalised if you don't use a ruler. As long as it is clear and you indicate the correct shift it is fine.
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Avatar for lam12
lam12
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Original post by manik95
the problem im keep having is how to start of the essay and then continue into the application and analysis does anyone have any tips?
I start from writing the definitions of what's being asked then sort of mess up from there



So introduce the concept then simply say what market failure is or the information failure whatever.

Basically just think step by step. So in your plan you should plan all the levels and do not rush in without doing this! Then your writing should have some structure. Always be like point then analyse.. Then at the end I would say if it's effective or not rather than sitting on the fence. Just plan and ensure you are getting level 3 band 2 to move onto level 4! So overconsumption, allocative efficiency etc. possibly underconsumption, consumer surplus increases if it's subsidies



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Original post by lam12
So introduce the concept then simply say what market failure is or the information failure whatever.

Basically just think step by step. So in your plan you should plan all the levels and do not rush in without doing this! Then your writing should have some structure. Always be like point then analyse.. Then at the end I would say if it's effective or not rather than sitting on the fence. Just plan and ensure you are getting level 3 band 2 to move onto level 4! So overconsumption, allocative efficiency etc. possibly underconsumption, consumer surplus increases if it's subsidies



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ok another thing do you talk about alternative even if its not asked like for market failure information provision or indirect tax or do you find it in the case study

when talking about allocative efficiency for lets say market failure what would the comment be.. like allocative efficiency is now being achieved as consumer welfare is maximised as supply moves to the left
How is everyone feeling ?


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Can somebody explain why information provision is cheap to implement?? PLEASE
Original post by Makashima
OMFG GOODLUCK GUYS ...ON MY WAY TO SCHOOL. HOPE YOU GET As!

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Can somebody explain why information provision is cheap to implement?? PLEASE
Original post by Yousf
Can somebody explain why information provision is cheap to implement?? PLEASE


It is not cheap, it cost money.
Original post by Yousf
Can somebody explain why information provision is cheap to implement?? PLEASE


The opposite. To do an effective job, it must be heavily repeated and be costly i.e. if you just had a few posters up, they would do little to correct the information failure and therefore big campaigns must be run which is expensive. And therefore there is an opportunity cost.
Original post by keynes24
It is not cheap, it cost money.


when compared to other methods of gpverment intervention. But they are easy to implement right. Thanks.
Original post by Yousf
when compared to other methods of gpverment intervention. But they are easy to implement right. Thanks.


I don't think they are but just stick to what you have learned. Keep asking questions may cause more confusion rather than help you very close to the exam.
ImageUploadedByStudent Room1431328704.272050.jpgHELP is this subsidies diagram correct?


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Original post by clara16
ImageUploadedByStudent Room1431328704.272050.jpgHELP is this subsidies diagram correct?


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i would label the axis and put the 0 point on, but maybe I am being overcautious
Original post by anorris13
i would label the axis and put the 0 point on, but maybe I am being overcautious


Thanks! Yeah same these are just my rough notes. But the areas are correct yeah?


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Original post by clara16
Thanks! Yeah same these are just my rough notes. But the areas are correct yeah?


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Yeah looks good!
Good luck people.
How'd everyone do?
What was 18 marker?

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