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# AQA Economics AS May 2015 watch

1. (Original post by Kiytt)
Can someone help me with this question?
Attachment 395439

The answer is A but I don't understand how.

Because it's elastic, it's a horizontal line. Therefore with the tax, the line will shift upwards, rising by the full price. If you think about trying to shift S on any other of the options, then you can see the P doesn't rise by very much if at all. I can see that the question is confusing because usually there's an option that says perfectly inelastic D and it's easier to see how P would rise by the full amount in that scenario from a tax.
2. (Original post by Kiytt)
Can someone help me with this question?
Attachment 395439

The answer is A but I don't understand how.

Again, my advice for questions like this is to draw a diagram and it'll be easier to understand. This is my diagram for answer A:

(sorry I draw it with Paint :P)
Attached Images

3. (Original post by micycle)

I was thinking its C, but mark scheme suggests D. Why?
There'll be a misallocation of resources if output is greater than q. This is because MSC > MSB. As the free market equilibrium is where the MPB line crosses with the MSC = MPC line, there's a divergence between MSB and MSC. This causes market failure.

It is the hardest question from my point of view that's ever come up so I doubt they'll ask it again unless they're being harsh.

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4. (Original post by penguinpenny)
Again, my advice for questions like this is to draw a diagram and it'll be easier to understand. This is my diagram for answer A:

(sorry I draw it with Paint :P)
I see now—I did draw out all the graphs but mixed up option D... nonetheless, thank you!

(Original post by Exceptional)
Because it's elastic, it's a horizontal line. Therefore with the tax, the line will shift upwards, rising by the full price. If you think about trying to shift S on any other of the options, then you can see the P doesn't rise by very much if at all. I can see that the question is confusing because usually there's an option that says perfectly inelastic D and it's easier to see how P would rise by the full amount in that scenario from a tax.
That's exactly where I went wrong! Misread option D as demand being perfectly inelastic. No wonder I was stuck...

Thank you both, I appreciate the help
5. Also, is anyone going to do section B first then section A? I find that I spend way too long on the multiple-choice and it leads me to not finishing my 25-marker.

I'll hopefully leave at least 20 minutes at the end to do the multiple-choice, but if I'm really unsure about a question I will force myself to move on so I answer all the ones I am certain of.
6. what are the evaluation and analysis points for merit goods and demerit goods.
7. Can anyone give me a layout for the 25 markers? I always end up writing way too much and not having enough time
8. (Original post by anonwinner)
Can anyone give me a layout for the 25 markers? I always end up writing way too much and not having enough time

1. -2 definitions , some context

Application Paragraph
-Quotes, stats more context if possible

Market Failure
- Chain of logic to show market failure

Solution x 2(3)
- Diagram
- Application
- Evaluation

Choose a solution and evaluate
9. (Original post by Kiytt)
Also, is anyone going to do section B first then section A? I find that I spend way too long on the multiple-choice and it leads me to not finishing my 25-marker.

I'll hopefully leave at least 20 minutes at the end to do the multiple-choice, but if I'm really unsure about a question I will force myself to move on so I answer all the ones I am certain of.
My teacher actually tells me, that at the start of the exam, go to the essay questions first and see what questions they are. So when you're doing MCQ's you can plan out the 25 marker a bit and you can find graphs that link to it!
My teacher actually tells me, that at the start of the exam, go to the essay questions first and see what questions they are. So when you're doing MCQ's you can plan out the 25 marker a bit and you can find graphs that link to it!
Interesting! My teacher is strictly against not adhering to the chronological order of things—I won't be telling him my plans, that's for sure
My teacher actually tells me, that at the start of the exam, go to the essay questions first and see what questions they are. So when you're doing MCQ's you can plan out the 25 marker a bit and you can find graphs that link to it!
Pretty good idea tbh.
Might wanna take a look at the defenitions too, might be able to deduce then in the MCQ's
12. (Original post by Kiytt)
Interesting! My teacher is strictly against not adhering to the chronological order of things—I won't be telling him my plans, that's for sure
Do the MCQ first but just look at the essay questions first
13. Surely planning out the essay while doing multiple choice may distract you, also the extracts tend to tell you what the market failure is etc and what can happen, so you have to spend more time reading and then you may forget what you planned unless you write it down as you go along?
14. (Original post by ozzie2)
Surely planning out the essay while doing multiple choice may distract you, also the extracts tend to tell you what the market failure is etc and what can happen, so you have to spend more time reading and then you may forget what you planned unless you write it down as you go along?
My teacher actually said to me, try and see if any of the MCQ's link to the 25 marker.. We have 2 questions to choose from so one of them has got to be linked to the MCQ. Getting a graph from the MCQ and using that in my 25 marker has saved me so many times
My teacher actually tells me, that at the start of the exam, go to the essay questions first and see what questions they are. So when you're doing MCQ's you can plan out the 25 marker a bit and you can find graphs that link to it!
Great idea, maybe I'm gonna try this tomorrow.
16. (Original post by penguinpenny)
Great idea, maybe I'm gonna try this tomorrow.
Good luck for tomorrow hun!
17. Good luck with the exam tomorrow everyone who reads this
18. Omds thankyouuuuuuuuuu
19. Hope it goes well for everyone!
20. (Original post by econam)
What diagrams could you draw for intervention regarding externalities. Other than tax and subsidy?

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Max/min price?

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