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    Was concentration ratio the answer to one of the multiple choice questions? ( Forgot the question)
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    (Original post by Ajan123)
    Was concentration ratio the answer to one of the multiple choice questions? ( Forgot the question)
    Yes i put that
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    Just to clarify with someone, taxation was a part of regulation, correct? My friends are telling me otherwise but I'm pretty sure I'm right.
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    How did people structure the ten mark question on taxation?

    I included 2 definitions
    The chain of reasoning
    diagram
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    (Original post by vvlp)
    Just to clarify with someone, taxation was a part of regulation, correct? My friends are telling me otherwise but I'm pretty sure I'm right.
    Regulation is the imposition of rules, contros and constraints, which restrict freedom of economic action in the market, unfortunately yor friends are right
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    (Original post by Ajan123)
    How did people structure the ten mark question on taxation?

    I included 2 definitions
    The chain of reasoning
    diagram
    I spoke about how it directly affects demand in that the cost of the tax goes directly on the consumer due to its inelastic nature. However, some people have said that you have to talk about how supply goes down which then causes an increase in price, any ideas?
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    (Original post by Satch13)
    Regulation is the imposition of rules, contros and constraints, which restrict freedom of economic action in the market, unfortunately yor friends are right
    But surely taxation is a regulatory tool because it restricts freedom in the market?
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    Can anybody post any MCQs they remember? Found them quite difficult.
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    (Original post by vvlp)
    But surely taxation is a regulatory tool because it restricts freedom in the market?
    it doesn't restrict freedom, as people can still buy and smoke cigarettes with the tax on
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    Did both points on the PPF means productively efficent
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    (Original post by Satch13)
    it doesn't restrict freedom, as people can still buy and smoke cigarettes with the tax on
    And you can still buy cigarettes with rules and constraints, just not as easily. Just as with tax you can still buy them but not as easily.
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    (Original post by Ajan123)
    Did both points on the PPF means productively efficent
    I got that purely because it was a PRODUCTION possibility frontier so allocation has nothing to do with it.
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    What assumption is made when drawing the demand curve?
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    (Original post by sharmonraja)
    What assumption is made when drawing the demand curve?
    I changed mine to A in the end, although I think I originally put that all other factors remain co stant
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    (Original post by stormyy)
    I changed mine to A in the end, although I think I originally put that all other factors remain co stant
    Was option A: demand increases as price decreases ?
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    Not a form ofregulation. Subsidies and information provision would also be regulation in that case and you couldnt answer the question.
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    Two multiple choice questions.

    1) Assumption made while drawing the demand curve:
    I put something to do with other demand factors remainingconstant

    2) The last question: about equitable distribution of income
    I put D - it is a value judgement
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    That's wrong - a large chunk of the marks are for referring to the text - most of my points were based around the text
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    (Original post by Reaver Daniels)
    I put the same as you did. Hopefully we got them right.



    Posted from TSR Mobile
    same here
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    for the demand curve mcq, you are assuming that people will demand less at a higher price.
 
 
 
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