Hey there! Sign in to join this conversationNew here? Join for free
    Offline

    0
    ReputationRep:
    I screwed it up too :/. I knew the formula but I just could not figure out unit contribution in the exam. So i wrote down formulas and attempted it anyway in the hope some poor examiner would give me a couple of marks.
    Offline

    0
    ReputationRep:
    (Original post by Majeue)
    Yeah cold i got 110,400 too, but i'm 100% sure it's wrong because when you use Fixed costs/CPU it gives a different answer...
    Total cost was something like 276,000 or something, if you divide it by the average selling price you should get the number of products needed to be sold to hit your total costs so it should be the same answer? :confused:
    Offline

    0
    ReputationRep:
    What did everyone put at the definition of demand ? I had never seen that before :/
    Offline

    18
    ReputationRep:
    (Original post by samboJ)
    Oh good. I guessed at roughly the same and applied to case study. I'm sure you'll get marks for that.
    Well hopefully because then that means if I did i've gotten at least 12 out of 20. I'm not sure about demand though?
    Offline

    10
    ReputationRep:
    (Original post by Supernatural17)
    That was good I always remember elasticity for the second module rather than the first. What did you put for the stratified sampling and this sounds stupid but we all know how vital one/ two marks are. What did you define as Demand? I have not learnt it so I had to make it up in the exam.
    Stratified sample I wasn't 100% sure on. I said it was a sample (wrong move using the key word in the definition...) which replicated the various groups of the target population and gave an example.

    I agree. The 1-2 marks can be huge in Business where supposedly there is little difference in grade boundaries.

    Again, demand is a huge part of the Economics course. I gave the textbook econ. definition. "The amount of product that consumers are willing to and able to purchase at each price level."
    Offline

    2
    ReputationRep:
    (Original post by Frostyjoe)
    Does it really matter about 100UMS as long as you get an A?
    Think about it in terms of UMS. If I get 80 UMS, I'll only need 55/100UMS in BUSS4 for an A overall. 100% makes harder exams easier.
    Offline

    0
    ReputationRep:
    (Original post by jones2596)
    Haha I noticed that - option B meant they would be using the internet so I just defined electronic market. Regardless of whether or not it did or didn't have a definition atleast it should get us some knowledge marks
    I included electronic market too I said something about how i think option B was correct due to increasing demand for online services.
    Offline

    0
    ReputationRep:
    tHIS IS one heck of paper, very easy>>>>>>>>
    Offline

    0
    ReputationRep:
    Dunna might be 56 marks worth
    Offline

    10
    ReputationRep:
    (Original post by Coldeversince)
    Total cost was something like 276,000 or something, if you divide it by the average selling price you should get the number of products needed to be sold to hit your total costs so it should be the same answer? :confused:
    132,000 / 2.5-1.2(=1.3)
    101,539 units is your answer.
    Offline

    18
    ReputationRep:
    Well for the demand one I said something like 'Demand is when customers are willing to spend a given price at given period' or something
    Offline

    1
    ReputationRep:
    For demand I just said when consumers choose to buy the product or service despite its price...I think I've done just as bad as the jan one! I got really confused on the equations!
    Offline

    0
    ReputationRep:
    (Original post by samboJ)
    Stratified sample I wasn't 100% sure on. I said it was a sample (wrong move using the key word in the definition...) which replicated the various groups of the target population and gave an example.

    I agree. The 1-2 marks can be huge in Business where supposedly there is little difference in grade boundaries.

    Again, demand is a huge part of the Economics course. I gave the textbook econ. definition. "The amount of product that consumers are willing to and able to purchase at each price level."
    Lucky for you. I said demand is the desire a person or group has for a particular product and varies with price I think. I said it was carried out by dividing people into groups with common characterstics and then people are randomly sampled from the groups.
    Offline

    10
    ReputationRep:
    (Original post by Frostyjoe)
    Well for the demand one I said something like 'Demand is when customers are willing to spend a given price at given period' or something
    I reckon you'll get the marks for that.
    Offline

    0
    ReputationRep:
    I put demand is the quantity/amount of a product/service a customer is able/willing to buy at any given time.


    Posted from TSR Mobile
    Offline

    0
    ReputationRep:
    (Original post by samboJ)
    132,000 / 2.5-1.2(=1.3)
    101,539 units is your answer.
    Well I wrote the formula down (fixed costs / CPU) but my mind went completely blank for the CPU formula so I tried to do it that way, i think i'll still get at least 1-2 marks then, ugh i'm so angry with myself.
    Offline

    18
    ReputationRep:
    Good I said that too.
    Offline

    10
    ReputationRep:
    (Original post by Supernatural17)
    Lucky for you. I said demand is the desire a person or group has for a particular product and varies with price I think. I said it was carried out by dividing people into groups with common characterstics and then people are randomly sampled from the groups.
    I reckon you'll get at least 1 for that. Possibly 2. I don't know the mark scheme of course.

    Stratified sample I must admit I don't have a clue what it is. My mates told me that it was what I said above and so I put that. But I'm far from expert.
    Offline

    10
    ReputationRep:
    (Original post by IHateRevisionOK?)
    I put demand is the quantity/amount of a product/service a customer is able/willing to buy at any given time.


    Posted from TSR Mobile
    That's near on perfect apart from it is any given price and not time. But I reckon you'll get 2 for that.
    Offline

    18
    ReputationRep:
    Its basically when they put people into groups of similar characteristics e.g age which are representative of the population and then randomly pick from them.
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Brussels sprouts
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.