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    (Original post by R.P.Everything.)
    You could be right, I'm definitely no expert on this.



    From what I understand, you get 2 marks per relevant point (max 4 overall) for citing data to support an observation. An incorrect unit of measurement would probably lose you 1 mark per point, so you should still get the other marks for attempting to cite the data values - i.e 6/8 for that question. It might even be that they don't double penalise for the same mistake, but take my comments with a pinch of salt, since I only recently started paying attention to these things.
    Ok thank you very much 6 marks will have to do i guess. Will not be making the same mistake in Unit 2 on friday as i really need to ace this exam to get to a B after Unit 1. Multiple choice in unit 2 along with the 12 and 25 marker are easier and more predictable so i am more confident with unit 2. What do you think?
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    (Original post by Sammyg123)
    Ok thank you very much 6 marks will have to do i guess. Will not be making the same mistake in Unit 2 on friday as i really need to ace this exam to get to a B after Unit 1. Multiple choice in unit 2 along with the 12 and 25 marker are easier and more predictable so i am more confident with unit 2. What do you think?
    Definitely think so too - some of the micro MCQ were really difficult, and I never fully got the hang of structuring the 12 or 25 marker in micro economics.

    Econ 2, you can just go through the 4 macroeconomic objectives, or analyse questions through supply side, fiscal and monetary policy.
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    For the 25 mark essay, I mentioned that:

    Unis can charge higher fees to fund for their increase in demand in order to prevent being at a loss. Evaluation: it increases the inequality of distribution of wealth and income.

    Unis can be subsidised by govt... - Evaluation: govt face huge opportunity cost, and may have to provide other public/merit goods - can go into a budget deficit

    I remember one part of an extract saying that even if unis charged higher fees, consumers continued to pay higher fees - inelastic demand and necessity (+ve yed)

    Seek donations from companies.....- Evaluation: may diminished company profits » less investment for R&Day » incentive to work less hard » diseconomies of scale

    Are these point relevant, good enough to get me at least 20??!
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    (Original post by Gerard JB)
    I'm not sure that you would be credited for the diagrams unfortunately. It's more of an ECON2 topic, mentioning AD and AS... I stuck with the Market Forces diagram (Supply and Demand) with a Costs and Benefits diagram too (MSB, MSC,etc)
    None of them or just not the AD/AS Diagram? would they also deduct marks or just not mark it
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    (Original post by R.P.Everything.)
    1 - I would say most likely 5, but it may be that you need to include the fact that is is paid 'to a firm/supplier'. 4 marks on a really bad day.

    2 - I don't think they will knock you down if you've put the thousands in there. At worst, if the examiner doesn't see the small writing, they will give you 6 marks (1 mark lost for accuracy citing data for each relevant point).

    3 - I did the same, but I'm much more unsure about the 12 and 25 markers, so someone else may have a better response. Previous DRQ about merit goods have awarded up to 2 marks for definitions, 4 marks for a diagram, and up to 10 marks for explaining why merit goods are under provided.

    Grade boundaries - a bit of an educated guess, but the ECON 1 'A' boundaries generally hover around the mid fifties? This seemed like a much harder paper than most of the past papers I've done, so I'm guessing the 52-53 for an A? I'm pretty sure I've either shaved a low A or a high B, so I'm hoping to drag it up with my econ 2 mark
    Any predictions for the econ2 exam??? What really p%&%&%&$€ me off is when I practice exam questions I finish the otq and drq in around 15 mins, in the actual exam I'm under pressure so ihave less time on the essay
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    I think I've really messed up on this one!

    Multiple choice was okay, however both contexts 1 and 2 for part b threw me right off course.

    After spending 10 minutes reading through both articles and panicking I finally decided to opt for context 1. The 5 marker was fine, I missed off the (thousands) units in the 8 marker, and ended up drawing a positive externalities diagram showing MPB being less than MSB for the 12, as this was all we had been shown for merit goods, not the production externalities. I'm not sure if justifying this by saying that people do not recognise educations true value, so therefore it's lack of demand in the free market would move it's supply down, is of any consolation...

    The 25 wasn't great, I ended up directing my conclusion on the the article mentioning that the demand for university education hadn't fallen following previous cost rises, and therefore due to the long term benefits to consumers, taxing them would be fine, thus saving the opportunity costs to the government. Within my answer I did show the positives and negatives of subsidising and taxing (with a diagram), the inelastic demand of education (taken from extract) and the positives/negatives of donations.

    Weighing all of this up, I don't think I have achieved much more than 45, a mark which isn't ideal!
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    (Original post by Landing)
    None of them or just not the AD/AS Diagram? would they also deduct marks or just not mark it
    They don't deduct marks, so don't worry about that They may credit you, depends on the examiner I guess...
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    Sat down with my teacher who had the paper, he said question 25 on the MC was definitely C.
    He also said for CONTEXT 2 that subsidies, taxes, education etc would all be the anticipated answer.
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    Also for the productive efficiency definition I mentioned factors of production and experiencing economies of scale. Will I get any marks?
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    according to the model MCQ answers I got around 17/25 which is ok but not great. I did context two, I defined productive efficiency as producing goods and services with the optimal combination of inputs to produce maximum output for the minimum cost.

    The next question I made a bit of a pickle I only compared the highest and lowest points for blackberry and companies that use Android software shares in the US markets.

    The 12 mark question I said the two factors that changed the sales was due to fashion as it will increase the demand for mobile phones as it said in the extract "it was a must have gadget" and benefiting from economies of scale (I included a diagram for each factor).

    The 25 mark question I don't think I answered the question right. I defined government intervention in my introduction. I said the government can tax the mobile companies which will reduce the amount of mobile phones produced and increase the cost of production (used a diagram) and evaluated by saying it depends on the magnitude of the tax. The other way the government can intervene is by subsidizing free hand devices which will decrease the chance of having cancer as said in the extract. I evaluated the point by saying their is an opportunity cost involved as it means less spending in other sectors like education. My last point was that the government may use maximum price for mobile phones which will stop firms from lowering there prices. I evaluated this point by saying could lead to a black market.

    In my conclusion, I basically stated that mobile phones is a demerit good and they could use advertisement to shows the public the bad effects it has on health as stated in the last extract.

    I would like to see how you guys think I structured my answers.
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    I completely forgot to do definitions for both the 12 marker and 25 marker, I know it's a completely amateur error, but I was horrendously pushed for time, as was everyone else at my school. Can I not get 2 marks now or should I be able to pick them up somewhere else? I did do an introduction in my 25 marker, just no definitions! I did however do constant evaluation including evaluation at the end as well as 3 (slightly rushed) diagrams to show: subsidies, P-max and excess demand/no incentive to produce. Thanks,
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    For why education tends to be underprovided, I wrote that tuition fees have lead to a leftward shift in demand curve for Polytechnic courses as students would not want to pay so much for a course that may not have great career prospects. Do you think that would be right or wrong?
    Also for the 8 marker I wrote the highest number of full time students for a particular course and highest number of part time students for a particular course, when I should have wrote 'for a particular type of course'. Does that I will lose all 4 marks for that specific comparison?
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    (Original post by Wors)
    I completely forgot to do definitions for both the 12 marker and 25 marker, I know it's a completely amateur error, but I was horrendously pushed for time, as was everyone else at my school. Can I not get 2 marks now or should I be able to pick them up somewhere else? I did do an introduction in my 25 marker, just no definitions! I did however do constant evaluation including evaluation at the end as well as 3 (slightly rushed) diagrams to show: subsidies, P-max and excess demand/no incentive to produce. Thanks,
    don't worry you can get more marks for your evaluation and conclusion
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    (Original post by AdebayoAkinfenwa)
    Sounds like a few of you did the context 2 25 markers wrong.

    The questions wasn't asking to assess the possibly methods of intervention, and the pros and cons of those.
    It asked you to assess the cases whether a government SHOULD or SHOULDN'T intervene.

    i.e.

    list the reasons the government should intervene (and a exemplar method)
    list the reasons the government shouldn't intervene (gov failure)
    conclude whether they should/shouldn't


    or, maybe I have massively failed this exam. Can anyone tell me the definite way of answering this question? :/
    In the 25 mark question for context 2 I defined government intervention in my introduction. I said the government can tax the mobile companies which will reduce the amount of mobile phones produced and increase the cost of production (used a diagram) and evaluated by saying it depends on the magnitude of the tax. The other way the government can intervene is by subsidizing free hand devices which will decrease the chance of having cancer as said in the extract. I evaluated the point by saying their is an opportunity cost involved as it means less spending in other sectors like education. My last point was that the government may use maximum price for mobile phones which will stop firms from lowering there prices. I evaluated this point by saying could lead to a black market.

    In my conclusion, I basically stated that mobile phones is a demerit good and they could use advertisement to shows the public the bad effects it has on health as stated in the last extract.

    Does anyone think I answered this question correctly?
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    (Original post by Jafar70)
    In the 25 mark question for context 2 I defined government intervention in my introduction. I said the government can tax the mobile companies which will reduce the amount of mobile phones produced and increase the cost of production (used a diagram) and evaluated by saying it depends on the magnitude of the tax. The other way the government can intervene is by subsidizing free hand devices which will decrease the chance of having cancer as said in the extract. I evaluated the point by saying their is an opportunity cost involved as it means less spending in other sectors like education. My last point was that the government may use maximum price for mobile phones which will stop firms from lowering there prices. I evaluated this point by saying could lead to a black market.

    In my conclusion, I basically stated that mobile phones is a demerit good and they could use advertisement to shows the public the bad effects it has on health as stated in the last extract.

    Does anyone think I answered this question correctly?
    Yeah, it looks pretty decent, don't worry you'll probably get at least a level 4,

    For the 25 mark essay, I mentioned that (other essay)

    Unis can charge higher fees to fund for their increase in demand in order to prevent being at a loss. Evaluation: it increases the inequality of distribution of wealth and income.*

    Unis can be subsidised by govt... - Evaluation: govt face huge opportunity cost, and may have to provide other public/merit goods - can go into a budget deficit

    I remember one part of an extract saying that even if unis charged higher fees, consumers continued to pay higher fees - inelastic demand and necessity (+ve yed)

    Seek donations from companies.....- Evaluation: may diminished company profits » less investment for R&D » incentive to work less hard » diseconomies of scal

    Are these point relevant, good enough to get me at least 20??!
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    is there a thread for unit 2 guys?
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    (Original post by katie_evo)
    for the subsidy definition i put something along the lines of:
    A subsidy is a form of government intervention often used in merit goods or goods that have a positive externality. The government helps to increase supply to leads to a cheaper price level therefore output increases.
    What would this get?
    I put the same almost exactly, my teacher said thats enough to get 5 because you mentioned, governemtn intervention, merit goods, postive externaltiy, and helps increase supply for cheaper price level
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    Is there a copy of the paper anywhere? I can't seem to find it.
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    Its on one of the previous pages on this thread, page 8 I think
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    (Original post by qr95)
    Its on one of the previous pages on this thread, page 8 I think
    Thanks, found it.


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