OCR F581 Markets in Action - 11 May 2015 Watch

Amanath
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#2101
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#2101
Do you have any bus notes or possible websites?
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Amanath
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#2102
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#2102
Allocative efficiency means being able to produce goods that are satisfied by consumers r8? the condition is P=MC..
WHAT ABOUT MONOPOLISTICALLY COMPETITIVE MARKETS?
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TrentL
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(Original post by Amanath)
Allocative efficiency means being able to produce goods that are satisfied by consumers r8? the condition is P=MC..
WHAT ABOUT MONOPOLISTICALLY COMPETITIVE MARKETS?
OCR students do not learn about Monopoly markets, thats AQA
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Amanath
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Oh I do edexcel.. By the way do you have any notes you prepared? I would appreciate any help..
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Carrot123
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(Original post by TrentL)
OCR students do not learn about Monopoly markets, thats AQA
It's in F583 we learn about market structures, I'm OCR by the way...

Not exactly relevant in F582 though...
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TrentL
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(Original post by Amanath)
Oh I do edexcel.. By the way do you have any notes you prepared? I would appreciate any help..
This is an awesome site for note taking/ Reading notes, it helps a lot: http://beta.tutor2u.net/economics/re...-topic-listing

This is notes for all exam boards, some of the topics listed may not be for Edexcel i don't know though because i do OCR, hope it helps though.
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Jeff ?
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Don't quote me completely on anything since i am also only a student
Looking at the essay your L4 was done really well talking about tradable pollution permits as an alternative
However the L3 IN MY OPINION was relatively weak. You mentioned that regulation would limit pollution. This is good however i would only award L3 band 1 for it. From my experience of doing past papers, i think L3 B2 will only be award if you talk about how Regulation WOULD CORRECT market failure. Like a diagram showing how supply would drop and explain that MSB would be equal to MSC in the new equilibrium.

The maximum mark id give for a weak L3 would be 15
Please remember this is only my opinion and our writing style might be completely different
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hannb98
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(Original post by 2014_GCSE)
Why would subsidy be used on goods with negative externalities...?
the bit that confused me was that it said subsidies for producer - it didn't specify if it was producers who supply goods which have pos/neg ex. or merit/demerit goods.. so i talked about how they would solve market failure for positive/merit goods, but then as an evaluative point talked about how it would be the wrong method for a firm producing neg/demerit good.. then i also did some other L4 comments: what size subsidy and consequences if it was too big or too small, and lastly its success is dependent on PED, then came to a conclusion..
then before all that i defined market failure+subsidy, did the subsidy diagram and explained how it would solve market failure for some firms (producing positive goods)...
can anyone tell me roughly what mark this could get?
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Amanath
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(Original post by TrentL)
This is an awesome site for note taking/ Reading notes, it helps a lot: http://beta.tutor2u.net/economics/re...-topic-listing

This is notes for all exam boards, some of the topics listed may not be for Edexcel i don't know though because i do OCR, hope it helps though.
Thanks dude!.. when are your exams ?
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Amanath
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(Original post by hannb98)
the bit that confused me was that it said subsidies for producer - it didn't specify if it was producers who supply goods which have pos/neg ex. or merit/demerit goods.. so i talked about how they would solve market failure for positive/merit goods, but then as an evaluative point talked about how it would be the wrong method for a firm producing neg/demerit good.. then i also did some other L4 comments: what size subsidy and consequences if it was too big or too small, and lastly its success is dependent on PED, then came to a conclusion..
then before all that i defined market failure+subsidy, did the subsidy diagram and explained how it would solve market failure for some firms (producing positive goods)...
can anyone tell me roughly what mark this could get?
The basic evaluative points are magnitude, time period, PED and the economic condition. In that case you havedone well plus what exam board are you ?
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hannb98
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(Original post by Amanath)
The basic evaluative points are magnitude, time period, PED and the economic condition. In that case you havedone well plus what exam board are you ?
do you think i'll get credit for discussing the point that its not a suitable method for producers supplying demerit goods or goods with negative externalities.. as the question didnt specify a type of product? so the producers could be producing anything?

im on OCR
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Amanath
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(Original post by hannb98)
do you think i'll get credit for discussing the point that its not a suitable method for producers supplying demerit goods or goods with negative externalities.. as the question didnt specify a type of product? so the producers could be producing anything?

im on OCR
As the question is doubtful the examiner would want the candidate to think practically perhaps.... what was the case about? may I know? and are you in AS or AL?
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hannb98
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(Original post by Amanath)
As the question is doubtful the examiner would want the candidate to think practically perhaps.... what was the case about? may I know? and are you in AS or AL?
it was an AS microeconomics paper, the question was something along the lines of 'Discuss whether a subsidy to producers will always correct market failure.'
It did not specify, as the question usually does, what the market failure is. Usually it would say '....correct the market failure arising from goods with negative externalities' or something like that, but this time it was more vague. But I didn't hear anyone else talking about if the producer was one supplying demerit goods etc..
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Amanath
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(Original post by hannb98)
it was an AS microeconomics paper, the question was something along the lines of 'Discuss whether a subsidy to producers will always correct market failure.'
It did not specify, as the question usually does, what the market failure is. Usually it would say '....correct the market failure arising from goods with negative externalities' or something like that, but this time it was more vague. But I didn't hear anyone else talking about if the producer was one supplying demerit goods etc..
To be honest, subsidies are not provided to raise the Social cost it is for the social benefit .. Ex- Subsidies to an alcohol producer??. ..had the same question for edexcel as well .. I scored 13/14. define subsidy, draw the diagram, show the consumer and producer surplus, analyse and evaluate. It is perfectly enough and one wrong point does not cost much.. your board's site plz?
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hannb98
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(Original post by Amanath)
To be honest, subsidies are not provided to raise the Social cost it is for the social benefit .. Ex- Subsidies to an alcohol producer??. ..had the same question for edexcel as well .. I scored 13/14. define subsidy, draw the diagram, show the consumer and producer surplus, analyse and evaluate. It is perfectly enough and one wrong point does not cost much.. your board's site plz?
yeah I know, but as the question didn't specify that it was to producers of merit goods etc, you can't say that they always correct the market failure, because 'producers' is very broad..

http://www.ocr.org.uk/qualifications...ics-h061-h461/
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Amanath
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(Original post by hannb98)
yeah I know, but as the question didn't specify that it was to producers of merit goods etc, you can't say that they always correct the market failure, because 'producers' is very broad..

http://www.ocr.org.uk/qualifications...ics-h061-h461/
Thanks and best of luck for your next exam
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Amanath
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(Original post by hannb98)
yeah I know, but as the question didn't specify that it was to producers of merit goods etc, you can't say that they always correct the market failure, because 'producers' is very broad..

http://www.ocr.org.uk/qualifications...ics-h061-h461/
Would you possibly be learning about patents?
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hannb98
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(Original post by Amanath)
Would you possibly be learning about patents?
dont think so - dont even know what that means haha
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Amanath
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(Original post by hannb98)
dont think so - dont even know what that means haha
hmmmmm. It is in edexcel though..
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hannb98
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(Original post by Amanath)
hmmmmm. It is in edexcel though..
ive only ever heard of them in geography when talking about drugs, so im pretty sure i didnt need to talk about them here
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