The Student Room Group
Uni students - Complete our survey >>
Uni students - Complete our survey >>
Uni students - Complete our survey >>

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

Scroll to see replies

Reply 540
Avatar for Jamyes
Jamyes
2
Original post by BirdIsWord
What was the wording of the question?


cant remember but was the perfect comp and efficiency one
Original post by Jamyes
I thought concentrated markets was talking about perfect competition not oligopolies


No man. :frown:
Reply 542
Avatar for Jamyes
Jamyes
2
Original post by BirdIsWord
No man. :frown:


woow i did monopoly vs perfect competition
Original post by Jamyes
woow i did monopoly vs perfect competition


PC v Monopoly is pretty much evaluating monopoly, so you're fine there.
But the fact you misunderstood the question may harm it. dw tho
Reply 544
Avatar for Jamyes
Jamyes
2
Original post by BirdIsWord
PC v Monopoly is pretty much evaluating monopoly, so you're fine there.
But the fact you misunderstood the question may harm it. dw tho


how you sure it was oligopoly what made you reach that conclusion
Original post by Jamyes
how you sure it was oligopoly what made you reach that conclusion


Concentrated markets mean few firms with large share..
Thats p much the definition of oligopoly
Reply 546
Avatar for Jamyes
Jamyes
2
Original post by BirdIsWord
Concentrated markets mean few firms with large share..
Thats p much the definition of oligopoly


**** my life
you won't lose marks if you don't mention oligopolies I dont think, because in the question, it didn't explicitly mention that you have to talk about both. Normally, it says AND (in capitals) and BOTH if it wants you to mention both, so it's not too bad
Reply 548
Avatar for badgyal
badgyal
Is there a thread for ECON4?
Original post by badgyal
Is there a thread for ECON4?


yea look on page 25 or 26
Reply 550
Avatar for badgyal
badgyal
My teacher thinks the question is gonna be about the Eurozone rather than the EU. Does anyone else have any predictions?
lads for the essay 1 on section 2 on perfect competition the question was

'Using economic theory, explain why perfectly competitive firms are allocatively efficient' So i thought you would talk about being socially desirble as perfect info, etc
Reply 552
Avatar for badgyal
badgyal
Also what do we have to know about terms of trade? never really been taught it
How did everyone explain what is meant by 'returns to scale'? (it's a 15 mark question) Would I lose many marks if I didn't mention how the scale of production is increased through investment of machinery/capital and focused more on economies of scale and costs in general?
(edited 7 years ago)
Original post by BirdIsWord
It said Monopoly power AND concentrated markets.
Why would it say concentrated markets if it only wanted you to mention oligopoly?
Either way, 95% of my essay was on Monopoly. Like i said, I only wrote like 6 lines on oligopoly.


I didn't say it wanted you to mention oligopoly, well it did but I think they wanted you to mention for monopoly..anyway it's done, any predictions for unit 4?


Posted from TSR Mobile
Original post by Anonymous_18
I didn't say it wanted you to mention oligopoly, well it did but I think they wanted you to mention for monopoly..anyway it's done, any predictions for unit 4?


Posted from TSR Mobile


Nah.. Could ask literally anything.. I need to look through past papers
Original post by BirdIsWord
Nah.. Could ask literally anything.. I need to look through past papers


Maybe the EU might come up because of the referendum? Is there a unit 4 thread, can't find it


Posted from TSR Mobile
Original post by meimaths123
lads for the essay 1 on section 2 on perfect competition the question was

'Using economic theory, explain why perfectly competitive firms are allocatively efficient' So i thought you would talk about being socially desirble as perfect info, etc


I'm pretty sure it said "an efficient allocation of resources", is that the same as allocative efficiency or could it include productive efficiency too? Grasping for straws here lol
Original post by Flapjack75
I'm pretty sure it said "an efficient allocation of resources", is that the same as allocative efficiency or could it include productive efficiency too? Grasping for straws here lol


It did say efficient allocation of resources, idk if what i did was any good tho.

I nailed the 25 marker for that essay, brought in real world context i.e. market concentration allowing dynamic efficiency (monopoly power = supernormal = invest r&d) in factories but also poor quality e.g VolksWagen having to recall thousands after cutting corners in production line
Original post by alevelting
It did say efficient allocation of resources, idk if what i did was any good tho.

I nailed the 25 marker for that essay, brought in real world context i.e. market concentration allowing dynamic efficiency (monopoly power = supernormal = invest r&d) in factories but also poor quality e.g VolksWagen having to recall thousands after cutting corners in production line


The question was why is it allocatively efficient..not about the allocation of resources..


Posted from TSR Mobile

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you