OCR F581 Markets in Action - 11 May 2015 Watch

adadadaafadaa
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#2041
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#2041
For q2 i shifted both demand right and supply left to achieve the greatest price increase, is this correct as it's not accounted for on the unofficial mark scheme. Any help would be greatly appreciated
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0123456543210
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#2042
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#2042
(Original post by adadadaafadaa)
For q2 i shifted both demand right and supply left to achieve the greatest price increase, is this correct as it's not accounted for on the unofficial mark scheme. Any help would be greatly appreciated
I did the same thing and then asked my teacher, he said that theoretically it would be right as it is the only way to achieve the SIGNIFICANT price increase, but if the question was directly linked to the case study, then probably not. (Don't remember the case study though).
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coolguy123456
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#2043
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#2043
For the essay question, I drew diagrams and referred to them but labelled the axis as "P" for price and "Q" for quantity, will I lose marks for this?
I made sure to make other L3 points so I shd still be able to get those marks and move onto L4 but will my diagram be penalized?
Thanks
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0123456543210
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#2044
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#2044
Depends, on some mark schemes they say "condone p and q for price and quantity" on some don't.
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coolguy123456
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#2045
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#2045
I had a look at the jan 2013 mark scheme where they asked about the "subsidy for housing" essay and there was no mention of a diagram or labels or anything.

Hopefully my other L3's get me the marks! 😁
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keynes24
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#2046
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#2046
(Original post by coolguy123456)
For the essay question, I drew diagrams and referred to them but labelled the axis as "P" for price and "Q" for quantity, will I lose marks for this?
I made sure to make other L3 points so I shd still be able to get those marks and move onto L4 but will my diagram be penalized?
Thanks
P and Q is correct for a demand and supply diagram.
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coolguy123456
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#2047
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#2047
thank you for clearing that up Keynes 😊
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keynes24
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#2048
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#2048
(Original post by chloe-jessica)
Significant is rather vague in my opinion. I shifted supply and of course demand was not going to be perfectly price inelastic, so I just wanted to check that as long as I drew my demand curve leaning more towards the inelastic slope than the elastic slope, I should be okay? Thanks
I think it was vague for many because it is not a common question but it is something that we cover in class (agricultural markets) and unstable commodity prices. The AS textbook , I think, does not offer much on it but it is something that is also tested at A2.
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tanahm
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#2049
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#2049
Hi, for the 18 marker i didn't use any specific examples. Just merit goods with positive externalities as a whole. Will my marks be capped at level 2 as I had good definitions analysis and evaluations.
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Slenderman
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#2050
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#2050
Was the economic problem question only applicable to land? Can't it be applied to the water?
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tanahm
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#2051
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#2051
(Original post by Slenderman)
Was the economic problem question only applicable to land? Can't it be applied to the water?
Water is land
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_Fergo
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#2052
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#2052
(Original post by Slenderman)
Was the economic problem question only applicable to land? Can't it be applied to the water?
It doesn't matter whether you generalised it into land or simply used water -you just had to state what was scarce.

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justfly
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#2053
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#2053
Also for the allocative efficiency question I mentioned that less pigs and cattle were Being bred thus less meat to consumers? - far fetched I know but I just included this extra point , thus I said supply of this was falling
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username1822535
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#2054
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#2054
(Original post by gelato72)
also i hope that the theme of the exam will be on crops :d
lmao i actually got it right!!!
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Makashima
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#2055
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#2055
(Original post by gelato72)
lmao i actually got it right!!!
Lmaooo wow
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_Fergo
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#2056
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#2056
(Original post by gelato72)
lmao i actually got it right!!!
Bang!!! Haha!

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Hammy_23
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#2057
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#2057
Whilst showing a loss of consumer surplus was it essential to draw a supply curve??
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2014_GCSE
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#2058
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#2058
I said it was allocative efficient currently but over time, in the long run, they would struggle to keep up that level of allocative efficiency.
I defined allocative efficiency and used 2 examples from the case study.

Any mark suggestions?
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_Fergo
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#2059
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#2059
(Original post by 2014_GCSE)
I said it was allocative efficient currently but over time, in the long run, they would struggle to keep up that level of allocative efficiency.
I defined allocative efficiency and used 2 examples from the case study.

Any mark suggestions?
What evaluation points did you make?

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Hammy_23
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#2060
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#2060
(Original post by *Stefan*)
What evaluation points did you make?

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I defined AF explain how it recent times it was becoming less AF using the case study
my evaluation was weak for that question i'd say: the extent to which prices increase the greater the increase the less consumer satisfaction thus being Less AF
any marks for evaluation possibly?
other question were pretty decent
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