AQA Economics AS May 2015

For The MCQ about when a firm is productively inefficient wasn't it when an increase or decrease in output causes an increase in costs? I don't even know tbh...

That's exactly what I put!

Reply 381

Wawasan

11

Original post by tan030

For The MCQ about when a firm is productively inefficient wasn't it when an increase or decrease in output causes an increase in costs? I don't even know tbh...

I selected the answer which read "a fall in average costs can be achieved by a reduction in output" or something along the lines of that

Reply 382

tan030

18

Any grade boundary predictions since last year required 60 for an A grade?

Reply 383

alex_david97

5

That exam was not what I was expecting. So much harder than past years and timing was so tight!

For the 12 marker in Context 2 about specialisation, I talked about Economies of Scale instead of Division of Labour :angry:

If my diagram, definitions and chain of reasoning are ok for explaining an increase in productivity and competitiveness (but saying EoS as my reason for decreased production costs), do you think I'd still get some marks?

How did you lot find context 2?

Reply 384

anonwinner

19

Original post by TJ23738

for context 1 25mark i wrote how the government can intervene by setting a max price which is below the market price so monopoly's cant abuse there market price by setting high price and i said how it benefits those on lower income as they be allowed to afford it then drew diagram and evaluation of how negative externalities being produced by monopolys as low income earners spend there money on gambling and may not have enough money left over for mortgages ect and said alot of other stuff for my evaluation but thats too long lool

My second argument was more of leaving it to the market and how a monopoly my experience economies of scale and they may lower average costs and will benefit low income earners diagram evaluation

im wondering if my arguments are valid for this 25mark cos im not too sure

I wrote some similar stuff. I did a diagram putting the minimum wage above the market equilibrium and said it could help to combat income inequality but an unintended consequence would be an increase in unemployment due to excess supply.

I also did a diagram showing the MPB and MSB etc. to show the externalities of gambling and said the government could do an information campaign to try to decrease demand for gambling.

I kinda rushed it though and was pretty generic with all the market/government failure stuff ;(

Reply 385

Wawasan

11

Original post by alex_david97

That exam was not what I was expecting. So much harder than past years and timing was so tight!

For the 12 marker in Context 2 about specialisation, I talked about Economies of Scale instead of Division of Labour :angry:

If my diagram, definitions and chain of reasoning are ok for explaining an increase in productivity and competitiveness (but saying EoS as my reason for decreased production costs), do you think I'd still get some marks?

How did you lot find context 2?

My answer to that was about division of labour, and I shifted the supply curve to the right (if workers perform tasks they are relatively best at, they can produce more in a given time period, reducing average costs to the firm of which can be passed on to consumers in the form of lower prices, after a rightward shift of supply) :smile:

Reply 386

GeorgeAndLennie

20

I would've wrote, "Income inequality is the comparison of income of an individual in one country compared to others in the same country, a person is in income inequality if they're living below a certain threshold"

Though I'm not doing this exam and doing A2 lol dunno if I'm right or not.

Reply 387

Wawasan

11

Original post by tan030

For The MCQ about when a firm is productively inefficient wasn't it when an increase or decrease in output causes an increase in costs? I don't even know tbh...

In that scenario wouldn't the firm be productive efficient? Because it is already operating at a low average cost level - any change in output would make it productively inefficient but the question concerns the current level of output? That was a difficult question though so I'm not fretting!

Reply 388

Dahir123

11

Dahir123 Online
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In my 25 marker I did context 1. I don't know what I was thinking when I didn't answer the question properly. In the beginning of my answer I defined market failure gave examples defined govt intervention have examples. Then I used the extract showing the argument for and against intervention l also talked about the market correcting itself. Then I went into how the government can intervene through subsidies, and regulation I used the subsidy diagram and expanded on this. Then in my conclusion I talked about how govts can also fail due to imperfect knowledge, admin costs and so on. I talked about the opportunity cost of govts intervening, the free market argument that the market should be left to correct itself. I completely missed the question how many marks would I get for this realistically?

Reply 389

tavleen123

6

Original post by Einstein16

I cant for 2 main reasons.

1) Other international students and students around the country may not have sat the exam for various reasons, thus giving them an unfair advantage to the rest of us if they see the questions.

2) I have to upload like every page and so its quite time consuming especially as I have an exam tomorrow !

Nevertheless, I will upload them if people are still talking about the exam tomorrow!

Can u email them to me ....x

Reply 390

alex_david97

5

Original post by Wawasan

My answer to that was about division of labour, and I shifted the supply curve to the right (if workers perform tasks they are relatively best at, they can produce more in a given time period, reducing average costs to the firm of which can be passed on to consumers in the form of lower prices, after a rightward shift of supply) :smile:

That sounds like full marks! I'm just kicking myself that I didn't use division of labour :argh:

Reply 391

Wawasan

11

Original post by alex_david97

That sounds like full marks! I'm just kicking myself that I didn't use division of labour :argh:

There are a number of approaches - from what you've written, you have the:
Definition (2 marks)
Diagram (4 marks)

So long as you had at least three points in your chain of reasoning, you have it!

Reply 392

Supermanxxxxxx

5

For context 2 25 marker I wrote about negative externalities tax and pollution permits

Posted from TSR Mobile

Reply 393

AmitShah98

2

Am i the only one that thought the exam was horrible

Reply 394

anonwinner

19

I think i might have ****ed up the 12 marker on context 1. I drew a supply/demand diagram then i decreased the price from p1 to p2 and then shifted supply to the right to meet the excess demand, is this correct?

Reply 395

Einstein16

10

Original post by tavleen123

Can u email them to me ....x

PM me.

Reply 396

thesmallman

9

Does anyone know if you still get marks for your diagram in the 12 marker if you haven't commented on it explicitly???

Also, for people doing context 2- what diagram did you draw for the 12 marker- I just did an average total cost curve and a demand/supply showing supply shift to the right...have no idea tbh

Reply 397

BigDaave

3

So obviously I'm very late to this thread, as Micro was (I'm guessing) today?

I'm currently 1 mark away from an A, so resitting AS Macro, A's in both Micro, B in A2 Macro.

The only advice I can give, is to choose a context based around the 5/8/12 marker, rather than the essay. This seems counter intuitive as there is more marks in the essay, but if you get a strong 20+ on the multiple choice, and then 20+ on the 5/8/12, you're looking at above 40 already, so a mediocre essay will get you a solid A (based around an A being ~55)...

5 Marker
Definition, include a unit of measurement if there is one, e.g. economic growth is a growth in the productive capacity of an economy, traditionally measured by the rate of growth in real GDP.

8 Marker
As for the 8 marker, I see lots of people trying to do some heavy analysis of data/graphs etc. Pick the highest point of one set of data, then the highest of the second set of data, using precise units etc. Then do the same for the lowest point on both sets of data - this is a GUARANTEED 8 marks if you do it correctly!

E.G.

Inflation was at its highest point in 2006, at 2.6%, comparably, unemployment was at its highest in 2008 at 5%. Inflation was at its lowest point in 2012, at 0.2%, whereas unemployment was at its lowest point in 2006 at 3%.

Obviously the figures are made up, but the template works with any set of data.

12 Marker
Harder to give a template for, start with definitions for two (if you can) economic terms (easy marks). Then move into analysis, use a diagram (fully labelled) making sure you mention knock on effects. E.g. A rise in income tax would improve the government's budget deficit, as the government would gain more tax from the public. This would also have a positive effect on the balance of payments, as if people have less disposable income, they will spend more on domestic products than imports.
I generally give two solutions to the question, just in case I completely cock one of them up, you can get 8 marks for the chain of reasoning, 2 marks for the definitions and another 4 marks for the diagram. So by doing two you completely solidify your chances of getting full marks.

Hope this doesn't sound condescending at all, this is just the method I found essentially guarantees the most marks, unless you're really good at the essays...

Reply 398

BigDaave

3

Original post by thesmallman

Does anyone know if you still get marks for your diagram in the 12 marker if you haven't commented on it explicitly???

Also, for people doing context 2- what diagram did you draw for the 12 marker- I just did an average total cost curve and a demand/supply showing supply shift to the right...have no idea tbh

Depends what you mean? If you've just sort of put it in there, I think they give you one or two marks, but the full 4 comes from an explained diagram...

Reply 399

thesmallman

9

Original post by BigDaave

Depends what you mean? If you've just sort of put it in there, I think they give you one or two marks, but the full 4 comes from an explained diagram...

I have the effects and implications in the writing and the diagram illustrates my point but I haven't written like... increases from Q1 Q2, P1 P2 and all that stuff...do you know what I mean?

AQA Economics AS May 2015

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