OCR F581 Markets in Action - 11 May 2015

Don't take this personally. It's just how it works -check out the mark schemes.

I also included three well explained points, even though I knew two were enough. Why? I don't know. I had the time so I just did it.

Truth is, however, that upon reaching two well explained points, the rest are marked as "seen" and are not graded.

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I've actually done every past paper currently on the OCR website and read through both the mark schemes and examiners reports to go along with them - I could recite those things in my sleep. I know making 2 points is fine, though they have to be pretty well explained and evaluated points.
I always include 3+ points since I feel my answer is slightly incomplete if I leave out half the problems associated with subsidies, for example. I'm fully expecting my essay to have 'seen' plastered over about 50% of it but to be honest, I can finish the rest of the questions in 35-40 minutes (more like 45 this time, so many comment questions) so I just do it anyway.

I tend to encourage 3 well explained evaluations, some students write more than others but that is usually due to having better time management. As long as the evaluations are well explained then that's all well.

It will be marked. When marking we need to go over every page.

If you meant it in this way then fair enough, it's just myself and various friends felt as if your comments read like they were somewhat derogatory towards people who included more points as you believed they didn't truly understand what they were saying. I'm sure two would be sufficient, though I've always found it's difficult to explain fully with two points.

first of all your choice of wording 'decreased the under consumption' is a bit odd. secondly a subsidy works to increase production and consumption, as price decreases due to subsidy, supply shifts to right, increase supply, lower price = increase demand.

so if thats what your saying you said then it should be fine.

The comment was obviously not at all in the slightest derogatory, he was merely stating the obvious fact that it is impossible to tell whether a point you've just written can guarantee full marks, and therefore people write more to be on the safe side. Not sure how you can be offended by that.

For the question asking how "price could significantly increase", is there any chance a double shift could be awarded marks? I.e. Increase in demand, decrease in supply. Instead of just one shift?

Without a supply curve and the question mentions a shift in supply it wouldn't get any marks in my view but that's me speculating.

To those who didn't put a supply curve for the fall in consumer surplus, you will still get full marks, the purpose of the question is to show the new triangle area where consumer surplus has fallen. As long as you have drawn the demand curve and showed an increase in price and fall in quantity you will still receive full marks.

To those who didn't put a supply curve for the fall in consumer surplus, you will still get full marks, the purpose of the question is to show the new triangle area where consumer surplus has fallen. As long as you have drawn the demand curve and showed an increase in price and fall in quantity you will still receive full marks.

in the 18 marker if my diagrams ave quantity demanded instead of quantity will i lose marks?

for the essay i did this
intro
subsidy-how it works+diagram with explanation
limitation 1-producers may not pass down prices/business may be inefficient
limitation-final cost of a subsidy falls on the consumer (tax payer)
alternative-regulation how it work+diagram with explanation
2 limititations then i sed subsisdy more effective....
conclcusion-depends upon size of the subisdy, elasticity and quality of the good

would this get me a decent amount of marks out of 18? im really worried that i did it wrong and i also didnt refer to case study

also for the demand and supply question the labels were in ebwteen the x and y axis, so i thought that point drawn across price down to quanitty was the market EQ and i wrote price and quantity near end of axis? i did everything else right would i lose marks for this if yes how many? thanks!

The diagram will have an incorrect label but I am unsure on how it could be marked.

Keynes - any chance you'd explain whether the "benefit of doubt" comes into play with such trivial mistakes?

Posted from TSR Mobile

I wouldn't think that's benefit of doubt since the question indicates supply shifting. I am sure this issue will be raised and the mark scheme will clearly state whether or not it would merit marks.