AQA A2 Economics Unit 3 (ECON3) 20th June 2016 OFFICIAL THREAD

For using examples on Monopoly, could you use Apple?

Reply 81

Flytrap1190

Original post by marioandluigi

How can they possibly ask us a 25 marker on price discrimination? Does anybody know? There's a good amount of concepts and eval for it but I'm not necessarily sure if I could write 25 marks worth. 😳😳😳

Posted from TSR Mobile

Would most likely be a question on whether PD is desirable or not. You could talk about losses in Consumer surplus by using a 1st/2nd degree pd diagram.

You could also talk about the benefits for consumers in how the supernormal profits pd alllows the firm to make can be used R and D

Can also talk about third degree PD- efficient allocation of resources

Reply 82

BirdIsWord

OP

17

Original post by marioandluigi

How can they possibly ask us a 25 marker on price discrimination? Does anybody know? There's a good amount of concepts and eval for it but I'm not necessarily sure if I could write 25 marks worth. 😳😳😳

Posted from TSR Mobile

assess the view that PD is always good for the producer but bad for the consumer.

Reply 83

charanjittt

how would i evaluate property rights???

Reply 84

frankiestorey

Original post by jakalcock

For using examples on Monopoly, could you use Apple?

idk maybe as a working monopoly, but if you're talking about a pure monopoly something like the london underground would be better, or local water supplier if you want an example of a natural monopoly

Reply 85

Flytrap1190

Original post by charanjittt

how would i evaluate property rights???

Not sure, I've only ever used it for 15 marker questions where eval is not required. Never used it for a 25 marker

Reply 86

Anymorefor123

3

Original post by charanjittt

how would i evaluate property rights???

Well could simply argue people
Are still going to pollute regardless if you put property rights on a bit of land e.c.t

Not really much you could say I guess

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Reply 87

deenattireco

10

Hello,

What is likely to come up?

I haven't revised at all and am self teaching so forgot the content I learnt.

Want to cherry pick ultimately

Please advise
Thanks

Reply 88

Original post by deenattireco

Hello,

What is likely to come up?

I haven't revised at all and am self teaching so forgot the content I learnt.

Want to cherry pick ultimately

Please advise
Thanks

same im ****ed for tomorrow and i find it hard understanding what the question is asking due to the way its phrased can someone help me with this please

Reply 89

jakalcock

Original post by frankiestorey

idk maybe as a working monopoly, but if you're talking about a pure monopoly something like the london underground would be better, or local water supplier if you want an example of a natural monopoly

Yeah thats what i was wondering because theres the definition of 25% or more of market share is a monopoly. Apple has 41% but its more oligopoly i thought. Cheers

Reply 90

Original post by BirdIsWord

Can someone hit me up with an exemplar monopoly v PC essay, cheers

Monopoly VS PC is all about measuring efficiency from each:

Start by defining monopoly, perfect comp, (price maker vs price taker etc) explanations of both in terms of conduct and structure.

On the one hand - pros of monopoly such as economies of scale, lower costs may be passed on to consumers as lower prices and thus increasing consumer welfare.
HOWEVER lack of competition can result in X-INEFFICIENCY for a monopoly, cancelling out any efficiency gains from EoS.
secondly, monopoly firms may be good for R&D and are needed for dynamic efficiency gains (consumer welfare increased via quality products)
HOWEVER May simply just keep profits for shareholders - depending on objectives of the firm. Also, barriers to entry make firms complacent so may not want to reinvent - no incentives

On the other hand - pros of PC, high consumer surplus from lower prices and higher output as a result of productive efficiency and allocative efficiency
HOWEVER, lack of profits for reinvestment may mean goods/services are of poor quality and undifferentiated products may be 'boring for consumers'

Evaluation for this could be as follows:
Perfectly competitive firms in a real world economy cease to exist and is simply a yardstick against other types of market in terms of efficiency and competition.
Monopoly may actually be better for consumers in a modern day society which is changing so vastly in terms of technology e.g. medical treatments getting more advanced so need firms like GlaksosmithKlyne (can't spell that) to be investing in research for new drugs. Nevertheless, competition is needed in some markets such as commodity markets to keep prices low so that the suppy chain is not creating cost-push inflation.
DEPENDS on how a firm is acting- a monopoly may be beneficial but may need constant regulation blah blah blah

that is just how I would attempt it... anybody please feel free to correct me if i am wrong :')

Reply 91

Original post by Anymorefor123

Well could simply argue people
Are still going to pollute regardless if you put property rights on a bit of land e.c.t

Not really much you could say I guess

Posted from TSR Mobile

Need for International contribution - the UK is a relatively small nation in size so us preventing pollution will have minimal effects compared to tackling say, China's economy who pollute at very high levels

Reply 92

According to my tutor they've scrapped CBA (cost benefit analysis) for the new specification so I reckon they may give that one final go in the Essay questions.. hate that!

Reply 93

Original post by HCLx

According to my tutor they've scrapped CBA (cost benefit analysis) for the new specification so I reckon they may give that one final go in the Essay questions.. hate that!

same im defo not gonna do that and im scared for the exam how you feeling

Reply 94

Original post by Jamyes

same im defo not gonna do that and im scared for the exam how you feeling

I may avoid it too... find it impossible to write 25 marks worth for CBA!!!
I feel ok... bit nervous because I left sixth form 2 years ago and gone back to resit my Econ alevel, I've pretty much taught myself and have no idea what I've been getting on past papers :frown:

. How about you :smile:

Reply 95

Kitkat5

3

What do you guys think will come up for context? I'm going to try and avoid labour market and distiribution of income now but I'm thinking competition policy or contestable markets or externalities/government intervention? :/

Also I really don't understand the 1st degree price discrimination diagram? it looks like all the others to me :frown:

how would you analyse it?

Reply 96

Original post by HCLx

I may avoid it too... find it impossible to write 25 marks worth for CBA!!!
I feel ok... bit nervous because I left sixth form 2 years ago and gone back to resit my Econ alevel, I've pretty much taught myself and have no idea what I've been getting on past papers :frown:

. How about you :smile:

honestly not feeling too great about it but im going through some model past papers, the bit i find tricky is sometimes understanding what the question is asking as the way its phrased sometimes isn't so straight forward. im also not good at maths so i usually get 2 or 3/5 in the first question which a silly way to drop marks :frown:

Reply 97

Kitkat5

3

Original post by Jamyes

honestly not feeling too great about it but im going through some model past papers, the bit i find tricky is sometimes understanding what the question is asking as the way its phrased sometimes isn't so straight forward. im also not good at maths so i usually get 2 or 3/5 in the first question which a silly way to drop marks :frown:

do you happen to have the model answers from June 2013 onwards? are you talking about the Peter Cramp ones?

Reply 98

Original post by Kitkat5

do you happen to have the model answers from June 2013 onwards? are you talking about the Peter Cramp ones?

yeah i have model answers from previous students that went to my school but unfortunately i doubt i would be allowed to show it to you without their permission,sorry.

Reply 99