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OCR F581 Markets in Action - 11 May 2015

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Original post by Yousf
There was no surplus questions requiring to draw a diagram!?


Consumer surplus yeah
Original post by midgemeister7
Consumer surplus yeah


They only asked for a definition, then you had to draw a supply and demand diagram, with supply shifting to the left right?
For the 18 marker the only third party I wrote was the people that may have wanted more fuel? and i dont think i mentioned negative externalities
and I just argued points for and against, with evaluation points
Will I be capped?
Original post by Yousf
They only asked for a definition, then you had to draw a supply and demand diagram, with supply shifting to the left right?


no .. it asked to show consumer surplus when quantity decreased
Why would subsidy be used on goods with negative externalities...?
Did anyone else work out the gradient of the opportunity cost curve?
The 18 marker didnt require alternatives, the question included 'always' it was just a for and against question, you could mention alternations as part of the against for the opp cost but not a full section because the question wasnt about the effectiveness
Original post by Pato1
no .. it asked to show consumer surplus when quantity decreased


Oh dam, i just showed a normal supply and demand diagram with supply shifting to the left but didnt show any consumer surplus how many marks will i lose?
Original post by midgemeister7
That's what you're supposed to do, except price rises not falls



Oh yes my mistake.

But are you sure your supposed to do this because as you know most consumer surplus diagrams shows shift in demand and only ONE supply curve. I only did a shift in supply because it said show something like this in the question.
Original post by midgemeister7
Absolutely no requirement to mention the case study at all in the last q anyway

Is that absolutely fine, we won't get penalised for it?
What did people write for what makes the ped more elastic, i said number of subistues for one, and then i said some products are neccessities and people need them eg rice so are more inelastic than others
Original post by freyalawrence
Is that absolutely fine, we won't get penalised for it?


mark schemes normally say you do NOT have to refer to the case study. But most candidates use it as an example because it is normally related to the essay
Original post by 2014_GCSE
Why would subsidy be used on goods with negative externalities...?


Thats what i was thinking but that was the template we used for the 18 marks, I was so confused during the exam I didnt know what to write for that:frown:

and when I came out of the exam apparently we had include negative externality/third party and demerit/merit good?
Original post by mayhs98
Oh yes my mistake.

But are you sure your supposed to do this because as you know most consumer surplus diagrams shows shift in demand and only ONE supply curve. I only did a shift in supply because it said show something like this in the question.


Yes, it was an odd one but I think you're correct, that's what myself and most people I know got. It definitely said supply in the question
Original post by freyalawrence
Is that absolutely fine, we won't get penalised for it?


Yes, the question was entirely generic so no need to
On the consumer surplus one I didn't draw in the two supply curves I just showed the change of price it would cause and the demand curves. Will I be penalised?
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aoxa
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Original post by 2014_GCSE
Why would subsidy be used on goods with negative externalities...?


It wouldn't. But for an evaluation point you could say that it was used on a demerit good, but that would cause more market failure, as the subsidy essay didn't specify what type of good the subsidy was placed on.
Does anyone have any opinion with regards to the Grade boundaries? I'm guessing between 42-44 wasn't the easiest paper?
what about if you mentioned two policies correcting two different market failure and then said that subsidies was more effective in the conclusion however wont be able to fully correct market failure
Original post by GeorgeAJ
Does anyone have any opinion with regards to the Grade boundaries? I'm guessing between 42-44 wasn't the easiest paper?


I think 44-47 personally

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