I did Context 2 and found most of it pretty good. The PPF diagram I wasn't sure about and the essay went well, but I couldn't get a judgment in, in my conclusion. If I did everything else apart from a judgment, will I get capped?

Reply 8

Psychomedic

OP

14

What did you talk about in the 25marker

Reply 9

Karan_Khera

8

Subsidies, free market, conclusion.

Original post by Amha

What did you talk about in the 25marker

Reply 10

anon56431

9

Original post by Karan_Khera

Subsidies, free market, conclusion.

What was the question about and what did u argue for free market?

Reply 11

KingDEA

8

Original post by Karan_Khera

Subsidies, free market, conclusion.

I wrote the same things but i picked context one😂

Reply 12

Karan_Khera

8

Original post by anon56431

What was the question about and what did u argue for free market?

I argued that food is an inelastic good that is necessary, so people will pay for it anyway. I also said intervention bares the risk of government failure with high financial costs which could affect other markets (opportunity cost). For my however, I said there is an equity issue, as the good helps people and improves economic welfare.

Reply 13

anon56431

9

Original post by Karan_Khera

I argued that food is an inelastic good that is necessary, so people will pay for it anyway. I also said intervention bares the risk of government failure with high financial costs which could affect other markets (opportunity cost). For my however, I said there is an equity issue, as the good helps people and improves economic welfare.

Sounds like you know your stuff. What was the question asking u to do? And do u know what the other 25 marker was about?

Reply 14

basbousa

14

I wrote about how the government should subsidise technology etc to agricultural firms bc the high price means that food prices will be higher lack of economic welfare etc. but for evaluation i said the opportunity cost + excess supply
the rest of it i waffled i was talked about the negative externalities associated with the production, but then i said it would lead to government failure because taxing the firms negative externalities would mean a reduction in the produce of agricultural goods, depends on a value judgement made by the government
i talked about how organic food is a merit good???? idek why i talked about that i did so badly i think i literally got 10

Reply 15

KingDEA

8

did everyone get £14 per person (to the nearest pound) in context 1?

Reply 16

basbousa

14

Original post by anon56431

Hi, what were both 25 markers about?

idk about context 1 but context 2 was on government intervention in agricultural sector

Reply 17

KingDEA

8

I

Original post by anon56431

Sounds like you know your stuff. What was the question asking u to do? And do u know what the other 25 marker was about?

It was about if government should provide public libraries?
I did the free market paragraph that if it’s let in their hands we would have a missing market and stuff but I didn’t conclude anything.