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Economics AS AQA exam tomorrow 16/05/2016

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Reply 240
Original post by sharmonraja
How sure are you?!


100%. Veblen goods have increasing demand as price increases, and it's in the spec.
Original post by Tahret
100%. Veblen goods have increasing demand as price increases, and it's in the spec.


Law of Demand lmao
Reply 242
Original post by joebackhouse
Law of Demand lmao


Lmao it has exceptions g...

Check the spec - Veblen goods and speculative demand lead to upward sloping demand curves. In fact just check Google.
Reply 243
That's right yeah :smile:
What did everyone put for the multiple choice question about labour productivity.

I think I put something about output increasing faster than labour.
Reply 245
For context 2 10 marker

Indirect tax - regressive , should decrease demand + disgram
Depends on PED if it's in elastic d will stay same if it's elastic it will change

Sound about right?
Reply 246
Original post by kpkpkpkppkpk
What did everyone put for the multiple choice question about labour productivity.

I think I put something about output increasing faster than labour.
7

I put output falls slower than the rate of people losing jobs?
I chose context 2 that was way easier I think I smashed to 25 marker but flopped multiple choice badly 😓
Original post by Tahret
Lmao it has exceptions g...

Check the spec - Veblen goods and speculative demand lead to upward sloping demand curves. In fact just check Google.


Generally it will be demand curves slope downwards unless otherwise stated.
Is it possible to get 9 or 10 out of 10 for context 2 if i didnt include a diagram? Mentioned everything tho
Reply 250
Original post by joebackhouse
Generally it will be demand curves slope downwards unless otherwise stated.


Generally does not = Always

Therefore AQA have ****ed you :h:
Original post by hbaig27
Is it possible to get 9 or 10 out of 10 for context 2 if i didnt include a diagram? Mentioned everything tho


I think so, the mark schemes for top band answers state "may include diagram"
Original post by Tahret
Generally does not = Always

Therefore AQA have ****ed you :h:


Lmao it wasn't stated
Reply 253
Original post by joebackhouse
Lmao it wasn't stated


It said "demand curves always slope downwards". They don't, with Veblen goods in the spec, so the answer is wrong. However, they are drawn with all other factors apart from price remaining constant (so you get price vs quantity)
For context 2, is it fine if my comparison was the range? Highest take away the lowest for price of cigs and the consumption data?
Reply 255
Original post by hbaig27
Is it possible to get 9 or 10 out of 10 for context 2 if i didnt include a diagram? Mentioned everything tho


Yes! As it didn't specifically ask for diagram :smile:
Reply 256
Original post by Tahret
It said "demand curves always slope downwards". They don't, with Veblen goods in the spec, so the answer is wrong. However, they are drawn with all other factors apart from price remaining constant (so you get price vs quantity)


So the correct answer is???????
Original post by Tahret
It said "demand curves always slope downwards". They don't, with Veblen goods in the spec, so the answer is wrong. However, they are drawn with all other factors apart from price remaining constant (so you get price vs quantity)


If it said in the question, "demand curves always slope downwards" then they want you to ignore the extreme cases the demand curve can be e.g. Giffen and Veblen goods
Reply 258
Original post by Kaasi
So the correct answer is???????


That all factors remain constant.

Original post by joebackhouse
If it said in the question, "demand curves always slope downwards" then they want you to ignore the extreme cases the demand curve can be e.g. Giffen and Veblen goods


They don't. That's why it says "always".
Can anybody remember the answer to the question about labour productivity?

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