Ocr economics f581 (16/05) and/or f582 (23/05) retakes

The only 18 marker that hasn't been tested under this specification is: Discuss whether competitive markets always lead to allocative efficiency.... That's a strong possibility seeing as this is the last year

I'm finished if that appears, any guidance on that?

Reply 101

ismail98

Original post by Pato1

I'm finished if that appears, any guidance on that?

Lol i know man... umm not really, which is why I've put it in here, hoping someones written a plan for it or something.

Reply 102

Beth_0

Are these all predictions for people retaking or for the new specification this year?

Reply 103

Pato1

13

It's far too much of an A2 question to come up, hence why it's never appeared. I don't think we should be worrying about it too much

Reply 104

martinnmartin

18

Can that even come up as an 18 marker? Tradable polution permits hasn't come up yet

If that q does come up do we show marker disequilibrium?

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Reply 105

Chazmaster73

If the 18 marker is on Tradable pollution permits, what are you guys going to write in your judgements??

Reply 106

Pato1

13

Original post by Chazmaster73

If the 18 marker is on Tradable pollution permits, what are you guys going to write in your judgements??

https://www.youtube.com/watch?v=MKgFdmzzewk

Watch this all

Reply 107

Pato1

13

Original post by Beth_0

Are these all predictions for people retaking or for the new specification this year?

Retaking the old spec

Reply 108

martinnmartin

18

Can anyone confirm this?

'discuss whether competitive markets always lead to allocative efficency'
That can only be a 6/ 8 marker right? Its in the competitive markets section so surely an 18 marker can't come up on it? Anyone? What would you even write for a 6 marker?

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Reply 109

jjbloomy

7

Original post by martinnmartin

Can anyone confirm this?

'discuss whether competitive markets always lead to allocative efficency'
That can only be a 6/ 8 marker right? Its in the competitive markets section so surely an 18 marker can't come up on it? Anyone? What would you even write for a 6 marker?

Posted from TSR Mobile

Spoke to my teacher about this and she said it wouldn't make sense for it to be an 18 marker as in theory a competitive market will always lead to allocate efficiency no matter what you do. She thinks it is more likely to come up as an 6/8 marker, but they did cover allocative efficiency last year so may not come up this year

Reply 110

matrixboy101

4

Original post by martinnmartin

Can anyone confirm this?

'discuss whether competitive markets always lead to allocative efficency'
That can only be a 6/ 8 marker right? Its in the competitive markets section so surely an 18 marker can't come up on it? Anyone? What would you even write for a 6 marker?

Posted from TSR Mobile

For an 8 marker (6+2 maybe):
Increased competition forces firms to become more efficient.
As a result, costs of production fall.
This increases the incentive to supply, hence shifting supply to the right.
The results in an extension of demand, which results in a fall in prices and an increase in quantity demanded.
This results in a more optimal allocation of resources, hence correcting the market failure and achieving allocative efficiency.
However this may depend upon whether firms respond to the increased competition. It also depends on whether firms are able to reduce costs, as there may be high costs of production.

I doubt this question would come up, as this type of question would more likely come up on a unit 4 paper involving natural monopolies, etc, but here's a rough plan anyway.

Reply 111

martinnmartin

18

Thanks I was worried about that, but if it comes up as an 18marker I'm going straight to OCR headquarters to sort someone out lmao.
repped btw

Reply 112

Rk2k14

17

If you are resisting f582 do you have to learn the new spec or is it last years spec?
Seem to be getting mixed results.

Reply 113

Pato1

13

Original post by Rk2k14

If you are resisting f582 do you have to learn the new spec or is it last years spec?
Seem to be getting mixed results.

The old spec mate. 'F582' is the examination number for the paper of the old spec.

Reply 114

Pato1

13

Original post by martinnmartin

Can anyone confirm this?

'discuss whether competitive markets always lead to allocative efficency'
That can only be a 6/ 8 marker right? Its in the competitive markets section so surely an 18 marker can't come up on it? Anyone? What would you even write for a 6 marker?

Posted from TSR Mobile