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    Should I revise:
    a) labour markets
    b) all the business aspects of economics

    Have 5 exams this week and literally no time to revise , also can someone help me out with government intervention vs leaving it to he market forces please


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    (Original post by cutelady)
    Should I revise:
    a) labour markets
    b) all the business aspects of economics

    Have 5 exams this week and literally no time to revise , also can someone help me out with government intervention vs leaving it to he market forces please


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    im sure you know a couple policies that the government could implement to make a market more contestable ( tax, price max/price control, privatisation etc) and the argument for leaving it to the argument is simply that market forces will respond to the inefficiencies of a firm, if it isn't dynamic efficient then consumers might get bored of the same products and an evaluation of this is that if it is a necessity then consumers are forced to deal with it. another point for market forces is that of creative destruction which is that if a firm is not efficient then it means that it will eventually get run out of business by more efficient firms but this is in the long run.
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    How's everyone organising timing?
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    How likely is CBA to come up
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    Fookin v likely mateeeeee
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    i honeslty doubt that id write an essay on CBA as there isnt that much to talk about in my opinion
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    how will taxing make the market more contestable?
    doesn't that make it harder for firm to enter????
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    When we're talking bout CBA, you mean about Merit, Demerit, Pollution etc, right?
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    (Original post by Kitkat5)
    How's everyone organising timing?
    5 marker should take you 2-3 mins.
    10 marker should take you 8 mins or so
    25 marker should take you roughly 30-35 mins.

    15 marker should take you roughly 15 mins.
    25 market should take you 30 mins or so.
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    (Original post by cherry1997)
    how will taxing make the market more contestable?
    doesn't that make it harder for firm to enter????
    taxing big firms specifically makes the market more contestable because if they tax the big firms the expected reaction would be to increase output and then produce at the socially optimum level of output which is where AR=MC
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    (Original post by nuttin2do)
    5 marker should take you 2-3 mins.
    10 marker should take you 8 mins or so
    25 marker should take you roughly 30-35 mins.

    15 marker should take you roughly 15 mins.
    25 market should take you 30 mins or so.
    what about the remaining 29 minutes
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    (Original post by Jamyes)
    im sure you know a couple policies that the government could implement to make a market more contestable ( tax, price max/price control, privatisation etc) and the argument for leaving it to the argument is simply that market forces will respond to the inefficiencies of a firm, if it isn't dynamic efficient then consumers might get bored of the same products and an evaluation of this is that if it is a necessity then consumers are forced to deal with it. another point for market forces is that of creative destruction which is that if a firm is not efficient then it means that it will eventually get run out of business by more efficient firms but this is in the long run.
    What do you mean by contestable, I thought that was to do with barriers to entry


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    (Original post by Jamyes)
    what about the remaining 29 minutes
    you'll obviously spend more time on the 25 marker and 15 marker at the end with thinking and such. You should be fine with timing as long as you finish the context stuff quickly.
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    (Original post by cherry1997)
    how will taxing make the market more contestable?
    doesn't that make it harder for firm to enter????
    Maybe taxing big firms then using the money to subsidise smaller new entrants? Idk
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    Anyone still up btw
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    (Original post by BirdIsWord)
    Anyone still up btw
    lol yup
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    (Original post by Kitkat5)
    lol yup
    Ayy my man
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    (Original post by BirdIsWord)
    Ayy my man
    still up?
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    (Original post by nuttin2do)
    still up?
    Yh bro.
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    When writing a question on CBA would you attempt to almost do the analysis yourself? Or would you just talk about the pros and cons of it? Or both?
 
 
 
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