so firstly i would like to say that OCR are really dum and they don't know how to make a exam which students understand. They give you a specification so students know exactly what needs to be learnt. so comes the exam first two questions define market mechanism and affect of excesss supply in comp market. Where in the spec does it say students need to know about excess supply or the definition of market mechanism. guess what it doesnt so we students are asked to answer a question which is completly off spec great work OCR just great. Then the question about negative externailities was so stupid as well. what could you actually put for a affect on third parties really?
define market mechanism: This is where demand is equal to supply. How many marks would this be?
The question about excess supply: I wrote that increased competition (since its a competitive market) will lead to supply shifting to the right so prices are reduced and quantity is increased. I also wrote something about there being too much supply. How many marks would this be out of 4?
for negative externaility 6 marker for one of my reasons i wrote about carbon emissions, full social cost not considered, resources misallocated, allocative and pareto inefficiency. How many marks would this be?
for essay i did this: intro+how it works in one parap2-advantage of permit
p3-advantage of permit
p4-what indirect tax are+how it works
p5-advantage
p6-disadvantage of permit
p7-disadvantage of permit
p8-disadvantage of tax
p9-disadvantage of tax
p10-comparision + judgement
i made a mistake here since i was meant to do disadvan of permits in p4, p5 but i did tax by mistake so kinda messed up structure.How many marks out of 18?