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2016 Edexcel Economics A: Paper 1 Intro To Markets And Market Failure (May 16th)

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Original post by rosemondtan
I'm AS! :smile: and phew okay because it seemed like no one wrote similar points and I was quite worried


I know you're AS :smile: but I'm asking what grade for example, do you work at?

I.e in the mocks what grades were you getting and what are you expecting after you sat this paper?
Original post by FryadSawji
I know you're AS :smile: but I'm asking what grade for example, do you work at?

I.e in the mocks what grades were you getting and what are you expecting after you sat this paper?


Oh oops HAHA. I've been getting As in my school tests and the mock! Hoping for an A for this paper but I'm not feeling very confident lol. Usually when I finish an economics paper I feel very much in control but this paper kind of threw me off a little :frown:
Original post by rosemondtan
Oh oops HAHA. I've been getting As in my school tests and the mock! Hoping for an A for this paper but I'm not feeling very confident lol. Usually when I finish an economics paper I feel very much in control but this paper kind of threw me off a little :frown:


That's okay I guess. I hope you do well.

Just don't get put off the 10 marker if you didn't mention XED.
This paper is the reason I will get kicked out of my school for next year :frown:
Needed to get an A in it
Original post by FryadSawji
That's okay I guess. I hope you do well.

Just don't get put off the 10 marker if you didn't mention XED.


I didn't mention XED, but I briefly mentioned that they were substitutes! And then went on to evaluate how some people might be unable to afford the mortgage and rent anyway + foreigners on work permits will still rent. Anyway, did you do the paper too? How did you find it? :tongue:
Original post by rosemondtan
I didn't mention XED, but I briefly mentioned that they were substitutes! And then went on to evaluate how some people might be unable to afford the mortgage and rent anyway + foreigners on work permits will still rent. Anyway, did you do the paper too? How did you find it? :tongue:


Ah yeah that's good.

Yeah paper was okay, apart from the 15 marker it was fine. 15 marker was poorly worded. I'm hoping grade boundary for an A will drop to 58/57
Original post by FryadSawji
Ah yeah that's good.

Yeah paper was okay, apart from the 15 marker it was fine. 15 marker was poorly worded. I'm hoping grade boundary for an A will drop to 58/57


Yeah the 15 marker was weird! What grades are you expecting for yourself then? And yeah I should think so too, haven't heard a single person who found the paper anywhere near good
Original post by rosemondtan
Yeah the 15 marker was weird! What grades are you expecting for yourself then? And yeah I should think so too, haven't heard a single person who found the paper anywhere near good


I think I'll be lucky with an A if boundary is lowered to 57 else, most likely B.
What about you?
Original post by FryadSawji
I think I'll be lucky with an A if boundary is lowered to 57 else, most likely B.
What about you?


Same here! Really praying for an A though. Have you discussed the questions with your Teachers? :smile:
Original post by rosemondtan
Same here! Really praying for an A though. Have you discussed the questions with your Teachers? :smile:


Yeah I discussed the 10 marker with them;

The two points to include were that help to buy schemes will 1. Help those on low incomes 2. Help those who need financial support/ have disabilities.
Original post by FryadSawji
Yeah I discussed the 10 marker with them;

The two points to include were that help to buy schemes will 1. Help those on low incomes 2. Help those who need financial support/ have disabilities.


For the 10 marker you mean?
Original post by rosemondtan
I'm AS! :smile: and phew okay because it seemed like no one wrote similar points and I was quite worried

I pretty much focused on the help to buy scheme and included some evaluation on different markets such as substitutes but I don't know if this was right 😕
So for F u could talk about the help to buy scheme, subsidies and/or max pricing right
Original post by rosemondtan
For the 10 marker you mean?


Yeah.
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Grtty
What was the 6 g) question please
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Grtty
Original post by FryadSawji
It's to do with XED. If you discussed subsidies, it won't really get you more than 5/10, although playing a minor role due to the fact that both types of housing were substitutes.
could you have spoken about Revenue for the rent market and how it increases?
I used subsidies in a few on my questions purely because I couldn't think of any other points, if a subsidy is appropriate for the questions then will I still pick up marks even though I essentially repeated myself in different ways?
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Original post by Grtty
could you have spoken about Revenue for the rent market and how it increases?


Nope because it said assess the impact of the help to buy scheme on the rented market. In other words, how does a subsidy in a market affect its substitute market, their revenue would actually fall since demand will shift left as the price of substitutes has fallen
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Original post by landellsharry
I used subsidies in a few on my questions purely because I couldn't think of any other points, if a subsidy is appropriate for the questions then will I still pick up marks even though I essentially repeated myself in different ways?


Did you counter argue subsidies? People becoming dependent, what the government should do after 2017? Etc...
my evaluation for the 20 marker (question 6f) was about how government failure could result from this intervention lol it wasn't exactly related to the points I mentioned earlier

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