AQA Economics AS May 2015

Yeah it was a bit hit and miss really - the onyl reason why I answrered a such was because I knew that productive efficiency is when a firm operates at its lowest possible average unit cost of production and hence it might achieve it if it lowers its output, as stated

Hi! I did the same context question and drew the exact same graph as you!! I thought I got it all wrong after the exam because I didn't check to see the 12 marker only chose context one due to the 25 marker

yeah but isn't it about firms producing the maximum amount possible?

Yeah it was a bit hit and miss really - the onyl reason why I answrered a such was because I knew that productive efficiency is when a firm operates at its lowest possible average unit cost of production and hence it might achieve it if it lowers its output, as stated

I thought that's if it's referring to an economy? A firm however is productively efficient if it maximizes output from its given input, so is operating at the lowest average cost? I dunno really!

Did anyone else realise that LOADS of questions in the MC Were simply repeats of 2009/2010 papers??


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There needs to be a petition for more time in exams. There is literally not time for thinking process.

Well tbh I think we're both wrong, pretty sure if you think about the economies/diseconomies of scale diagram then it's A aha (more efficient to increase output and reduce output to get on the bottom of the U-shape)

Yeah I dunno really Like I said, the only reason why I selected it was because of the notion that productive efficiency requires low average costs and that doesn't necessarily require higher output - I was thinking of a previous multiple choice question in which is asked whether or a not a certain move would increase productive efficiency - and the answer was a movement from a high output level, to a lower output level, accompanied by a fall in average costs.

Not to worry though!

For income inequality I put something like: "Income inequality is the disparity between the incomes of different groups of people" or something like that, will that at least get me some marks?

Do it now!!!!!

Yeah, it should probably sweep the majority of the marks if not all of them - that was actually one of the questions which put me off Context 1 but equally, it's not one of the definitions in the AQA Textbook so there's reason to feel that their inclusion of this question was unjustified?