OCR F581 Markets in Action - 11 May 2015 Watch

_Fergo
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#2081
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#2081
(Original post by iloverobkardash)
Not as well as ive could've but there was still some analysis of how it would correct underconsumption. What band do you think I hit?
It depends -if you mentioned is makes the market more allocatively efficient, reduces under-production, increases welfare and explained these a bit, you may not be capped. It all depends on how well you explained your analysis.

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Yousf
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#2082
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#2082
I said that that the farmers are meeting the demand for energy, and that without a doubt, in the current economic sitaution there is high demand for energy which is advanatge of using biofuels. However..and talked about drawbacks. I MISSED OUT THE WORD ALLOCATIVE EFFECIENCY -.-
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Jackriley97
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#2083
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#2083
(Original post by *Stefan*)
It depends -if you mentioned is makes the market more allocatively efficient, reduces under-production, increases welfare and explained these a bit, you may not be capped. It all depends on how well you explained your analysis.

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Yes I said how gym membership may be considered a DEMERIT good (stupid I know) but I still said it is underconsumed, did a positive externality diagram, did how a subsidy increases consumption etc.... My only mistake was to call it a demerit good instead of a merit good
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iloverobkardash
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#2084
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#2084
(Original post by *Stefan*)
It depends -if you mentioned is makes the market more allocatively efficient, reduces under-production, increases welfare and explained these a bit, you may not be capped. It all depends on how well you explained your analysis.

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No not really, I focused my analysis more on Subsidies themselves 👀
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Ecconomist
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#2085
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#2085
O the allocativee efficiency and public goods 6 markers, I didn't explitially state their defintions but I did mention throughout my answer: characteristics of non-rivalry and non-excludability and even said that as good dooesn't have both characterisitics of public good, perhaps a quasi-public good at one point. But a bit more coherently..

Also, for the allocative efficiency, I mentioned how this will improve or possibly maximise consumer satisfaction. after each point made.

Will I still be penalised for a possible knowledge / defintion mark even if it was clearly implied?
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Carrot123
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#2086
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#2086
I was re-taking this exam, had a solid B last year, but I found this year much harder than last year... But I understood what to put more, so hopefully I'll get more marks...

Where I lost my marks last year was on the 6-8 markers, got about 2-4 on them... Hopefully I did better this year...
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_Fergo
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#2087
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#2087
(Original post by Carrot123)
I was re-taking this exam, had a solid B last year, but I found this year much harder than last year... But I understood what to put more, so hopefully I'll get more marks...

Where I lost my marks last year was on the 6-8 markers, got about 2-4 on them... Hopefully I did better this year...
Last year it was 42 for an A -can't see it getting lower to be honest.

Best of luck!

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Carrot123
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#2088
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#2088
(Original post by *Stefan*)
Last year it was 42 for an A -can't see it getting lower to be honest.

Best of luck!

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I think it'll stay around the same, or increase to a maximum of 45... Either way, I got 40 last year, so an improvement will add to those crucial UMS...
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Lilywww
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#2089
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#2089
I think I had a really good essay overall with strong analysis and 4 good evaluation points

BUT I just realised I didn't give a specific example of the merit goods / market failure that I was describing and analysing
Will I not be able to get above 4 marks for not giving a specific example??

Even tho my essay was really good ?
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_Fergo
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#2090
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#2090
(Original post by Lilywww)
I think I had a really good essay overall with strong analysis and 4 good evaluation points

BUT I just realised I didn't give a specific example of the merit goods / market failure that I was describing and analysing
Will I not be able to get above 4 marks for not giving a specific example??

Even tho my essay was really good ?
No. Though it would help, I doubt it was necessary.

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coolguy123456
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#2091
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#2091
As long as you mentioned the cause of the market failure (merit goods being underconsumed from what you've said) you shd be alright as there was no phrase stating to give an example of a good or to refer to the case study.
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Lilywww
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#2092
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#2092
(Original post by coolguy123456)
As long as you mentioned the cause of the market failure (merit goods being underconsumed from what you've said) you shd be alright as there was no phrase stating to give an example of a good or to refer to the case study.
Yeh I did do this quite thoroughly! Thank god, some people were telling me I could get 0/18 for not doing a specific example and that the examiner wouldn't even read the rest of my essay if I hadn't done one!
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coolguy123456
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#2093
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#2093
There were numerous reasons for correcting market failure using subsidy, merit goods being one of them, therefore an example can't possibly be compulsory due to how open-ended the question was.
If you have defined market failure and subsidy the minimum marks you'd get would be around 4 anyways.
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Sail9963
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#2094
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#2094
(Original post by JYNE)
I'm not sure what I did in the exam, but I drew something along the lines of this. Is it correct? (I had labels aswell of course)
Sorry...didn't see reply

Yes that is right I did that anyway haha
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hyjacked
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#2095
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#2095
Is there a F582 version of the google doc?
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Pato1
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#2096
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#2096
(Original post by hyjacked)
Is there a F582 version of the google doc?
the exam hasnt even happened..
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keynes24
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#2097
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#2097
(Original post by Pato1)
the exam hasnt even happened..
I am assuming he refers to a revision guide
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Hammy_23
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#2098
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#2098
is there a f582 thread?
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c223
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#2099
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#2099
(Original post by Hammy_23)
is there a f582 thread?
Yes, here.
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Hammy_23
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#2100
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#2100
(Original post by chloe-jessica)
Yes, here.
Thank you
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