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Economics AS AQA exam tomorrow 16/05/2016 watch

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    how does my essay for the regulation sound- intro i defined etc, para 1- tax can solve partial market failure arised from the negative externalities of consumption then i evaluated saying weak because demand may be price inelastic due to addictive nature and used date. Para 2- inequitible for firms as job losses in cigarette industry etc evaluated saying strong- also inequitible for consumers as source said it lowers choice something along those lines. Then i countered. COnclusion- compared the underlying issue of gov failuer and market failure, a combo of policies would be best. Finnishihed saying a subsidy for alternative goods e.g e cigs would be the best aproach.
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    (Original post by cathartic)
    I also said a


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    i Put B
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    (Original post by cathartic)
    I also said a


    Posted from TSR Mobile
    I put B, http://image.slidesharecdn.com/fcand...?cb=1398684421, doesn't this explain it??
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    Attempted Mark scheme:
    cba to do multiple choice tbh
    Context 1:
    ( 3 marks ) - misallocation of resources as a result of an attempt by a government to correct market failure....
    ( 4 marks ) - calculation = 1751 or 1750 ( not sure if you round or not )
    ( 4 marks ) - Two points of comparison:
    populus increased overall whereas houses built didnt.
    populus had higher peak
    populus range was bigger
    + any others
    ( 4 mark ) - maximum price
    below equilibrium, arrows to show contraction and extension, labelled curves and axis
    ( 10 mark ) - Perfect comp
    no barriers
    infinite suppliers met by demand
    equal information
    price takers
    small market share
    identical products
    + im sure there are other, generally explain idea that there is no power and acts off rational decisions.
    ( 25 mark ) - Housing and gov intervention
    General Structure ( wasnt sure at first ) :
    intro ( why we should or shouldnt ) ( housing is near enough a neccessity )
    3 or more points : Why the intervention is neccessary how it work
    Evaluation ( diagram )
    Failure
    Relevant point :
    Supplying info to consumers
    subsidies
    maximum prices
    investment ( increase of supply to meet demand )
    encourage building ( rewards and incentive for producers )
    collective housing ( living with friends )
    less restriction on no housing areas.

    Didnt to context 2 sorry. Tough exam though i thought.
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    (Original post by EggFriedRai)
    Attempted Mark scheme:
    cba to do multiple choice tbh
    Context 1:
    ( 3 marks ) - misallocation of resources as a result of an attempt by a government to correct market failure....
    ( 4 marks ) - calculation = 1751 or 1750 ( not sure if you round or not )
    ( 4 marks ) - Two points of comparison:
    populus increased overall whereas houses built didnt.
    populus had higher peak
    populus range was bigger
    + any others
    ( 4 mark ) - maximum price
    below equilibrium, arrows to show contraction and extension, labelled curves and axis
    ( 10 mark ) - Perfect comp
    no barriers
    infinite suppliers met by demand
    equal information
    price takers
    small market share
    identical products
    + im sure there are other, generally explain idea that there is no power and acts off rational decisions.
    ( 25 mark ) - Housing and gov intervention
    General Structure ( wasnt sure at first ) :
    intro ( why we should or shouldnt ) ( housing is near enough a neccessity )
    3 or more points : Why the intervention is neccessary how it work
    Evaluation ( diagram )
    Failure
    Relevant point :
    Supplying info to consumers
    subsidies
    maximum prices
    investment ( increase of supply to meet demand )
    encourage building ( rewards and incentive for producers )
    collective housing ( living with friends )
    less restriction on no housing areas.

    Didnt to context 2 sorry. Tough exam though i thought.
    Were there any arguments for leaving it to the market? I said that in the long term the shortage, which has caused higher prices, would lead suppliers to supply more due to the incentive function. But this seems weak.
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    (Original post by nellythumper)
    Were there any arguments for leaving it to the market? I said that in the long term the shortage, which has caused higher prices, would lead suppliers to supply more due to the incentive function. But this seems weak.
    I also put what you put and is correct, max prices mean less profit and therefore less incentive.
    [I put the obvious stuff:]
    - gov may not know the consequences ( volatile market )
    - most intervention is not guna solve long term effects
    in my conclusion i put that supply of information and general methods that involve the consumers are better due the consequences being less likely to lead to failure.
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    (Original post by jfahdgjdfshg)
    What did people get for the Context 2 calculation. £6.29?
    yes mate *high fives*
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    (Original post by SANTR)
    Yep and you have to refer to the extract explicity. What conclusion did you draw?
    oh b*gger my actual anus
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    (Original post by Reaver Daniels)
    Did you quote the extract? If not then I believe you're capped at 15/25?


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    yes i quoted throughout haha. and you would be capped at 21 marks. i think i have got 22/23 for the essay hopefully
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    (Original post by Reaver Daniels)
    You sure? I think it was old spec 21 and new spec 15? Yeah safe I think I got 22/23 as well. I put 3 diagrams in. How many did you do?


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    You are probably right, I am not sure about the old spec but I was like- extract F states etc. I did one welfare loss diagram, a tax diagram, a fall in demand diagram, and a subsidy diagram so 4 in total.
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    I quoted the extract once I think. Do you think that's enough, also I think you're capped at 21, 15 seems awfully low for just not quoting the extract.
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    (Original post by Reaver Daniels)
    Did you quote the extract? If not then I believe you're capped at 15/25?


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    How many times do you have to refer to the extract?
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    (Original post by SANTR)
    How many times do you have to refer to the extract?
    my teacher said at least 3
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    (Original post by Reaver Daniels)
    Oooo 4. Cheeky. Did you quote any real world knowledge to back up evaluation? One of the weak points to taxation was that businesses may start attempting to avoid tax, so I used the Landfill Tax to give an example and spoke about this.


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    Haha and no, i did not use any up to date example I just spoke about the addicted nature of cigarettes would mean the tax is less likely to be effective as demand may be price inelastic etc and then explained e.g % change in qd smaller than % change in price from tax. I am happy but the multiple choice was tough. How many out of 70 for an A do you think>?
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    (Original post by Reaver Daniels)
    Multiple choice was evil though, ngl. What do you think you got?


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    Honestly I am not to sure perhaps 14/20-17/20. Things I remember- that one about productivity like employment slowing down not too sure. I did RSTY minus the other box. I did the rationing function of demand for wheat prices. For the question on monopolys- i ticked the one which was something like- they will have lower oputput, less efficiency etc.
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    what did people draw for the graph uestion on cigarettes?
    overalll found it quite an easy paper, multiple choice were decent and the context uestions were superb
    (new spec)
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    (Original post by Satch13)
    what did people draw for the graph uestion on cigarettes?
    overalll found it quite an easy paper, multiple choice were decent and the context uestions were superb
    (new spec)
    I drew a D&S diagram with demand shifting to the left
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    (Original post by sharmonraja)
    I drew a D&S diagram with demand shifting to the left
    Thanks, for some random reason i drew supply to the left
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    What did people write about for the cigarette 25 marker?
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    I think i may have gone on a tangent in the context 1 25 marker - hopefully got at least 15
 
 
 
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