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**********OFFICIAL OCR ECONOMICS F581 13th MAY 2014 THREAD************ Watch

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    (Original post by afctom)
    That Airfix had to decide between making model planes and other models. I hope anyway.

    Oh no, I put that there was an opportunity cost in focusing theirresources on catering for their new target audience, the people under the ageof 16, how many marks do you reckon I would get for that?

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    (Original post by May-o2q)
    What does everyone put for advantage and disadvantage for specialisation?
    I put more outputs in total and depletion of scarce resources. Will I be getting any marks? I find my answer lame


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    The question said 'advantage and disadvantage of specialisation TO THE FIRM':

    I was a bit unsure for this, so I put lower costs of production->greater profit(this May be wrong) and over-dependency on Chinese manufacturing.

    I don't think scarce resource depletion is a disadvantage to a firm in particular, but total output is great, I wish I'd put that :/


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    That economics exam was very good. Easy paper. The 18 marker was amazing too.
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    (Original post by Knowing)
    The question said 'advantage and disadvantage of specialisation TO THE FIRM':

    I was a bit unsure for this, so I put lower costs of production->greater profit(this May be wrong) and over-dependency on Chinese manufacturing.

    I don't think scarce resource depletion is a disadvantage to a firm in particular, but total output is great, I wish I'd put that :/


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    Yes,,, I can't think of any disadvantages that time, and it was the last 3 mins that I wrote the answer. Do u remember how many is that question? :/


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    (Original post by littleman72)
    The question where it wanted two things that could shift demand besides tastes I put advertisement and consumer confidence.... is this right or not???

    Also for the penultimate one I wrote about how it was a negative externality causing a clear market failure and how china should try and solve this however its hard to determine the level of market failure???

    Everyone is saying this exam is really easy but I found it hard and I've been getting close to 100% all year now I mess this up oh god
    There are four determinants of demand. Price, Fashion, Income and Price of other goods e.g substitutes. I think therefore you could talk about any except fashion.
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    (Original post by May-o2q)
    Yes,,, I can't think of any disadvantages that time, and it was the last 3 mins that I wrote the answer. Do u remember how many is that question? :/


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    4 marks I think?


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    (Original post by Al C)
    There are four determinants of demand. Price, Fashion, Income and Price of other goods e.g substitutes. I think therefore you could talk about any except fashion.
    population? could someone have spoken about that
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    If I only shifted the demand curve for the question where you had to shift both is that 0/6?
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    (Original post by nKolundzic97)
    population? could someone have spoken about that
    Population actually comes under tastes and preferences.
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    Yeah i put for an advantage that there would be a higher output because more people would be trained to know what they are doing when it comes to producing the goods, therefore supply will increase.

    For a disadvantage i mentioned occupational immobility and the fact that employees wouldn't be able to find a job if the firm closed down.
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    (Original post by Knowing)
    Population actually comes under tastes and preferences.
    I lost 3 marks on that question then ffs, do you think the grade boundaries will be high??
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    (Original post by sarahdaniels083)
    If I only shifted the demand curve for the question where you had to shift both is that 0/6?

    I think you was only supposed to shift the demand curve, because in the case study it said they could only produce a limited amount of model toys or whatever, so i don't think the supply curve should've shifted. i think that was a weird question to be honest.
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    (Original post by moeyxo)
    I think you was only supposed to shift the demand curve, because in the case study it said they could only produce a limited amount of model toys or whatever, so i don't think the supply curve should've shifted. i think that was a weird question to be honest.
    Oooh okay I am so confused over it haha cause it said about the Chinese factory allowing cheaper production or something???
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    (Original post by moeyxo)
    I think you was only supposed to shift the demand curve, because in the case study it said they could only produce a limited amount of model toys or whatever, so i don't think the supply curve should've shifted. i think that was a weird question to be honest.
    Supply would still shift. Moving production to China increases the supply. The "limited" part was there to demonstrate scarcity and opportunity cost I think.

    Also I think by "on ONE diagram", they imply that there will be more than just one shift.
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    (Original post by moeyxo)
    I think you was only supposed to shift the demand curve, because in the case study it said they could only produce a limited amount of model toys or whatever, so i don't think the supply curve should've shifted. i think that was a weird question to be honest.
    The case study said that moving production to China caused a significant reduction in production costs, so I assume you needed both
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    What we thinking for the grade boundaries , high or low ? It was a pretty easy exam but they have been high in the past few years
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    (Original post by nKolundzic97)
    I lost 3 marks on that question then ffs, do you think the grade boundaries will be high??
    I'm actually not quite sure on the grade boundaries. There are lots of people saying "that was a really easy paper", and also lots of people that only did one shift in in D/S diagram, and people who did disadv/adv of specialisation, but not specifically for the firm.

    There were lots of places to lose marks, and the penultimate question was terrible. Grade boundaries I think will be around average? Can't really tell though
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    (Original post by Knowing)
    Supply would still shift. Moving production to China increases the supply. The "limited" part was there to demonstrate scarcity and opportunity cost I think.

    Also I think by "on ONE diagram", they imply that there will be more than just one shift.
    Yes I think ure right, I remember in the case study, they also mention about the advance technology Airfix has, so I think supply would shift outward too in this case?


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    (Original post by EdwardsEconomics)
    Apologies, there has been a flood of questions and I didn't have the time to answer everyones on here, however with your essay here is my feedback.

    Your L1, L2 and L3 (band1 and 2) are excellent, only keyword you could try and introduce as well is the notion that welfare is being increased by the decrease in Q to the socially optimal point.

    L4 was great and you had all 3 of your L4 stamps before the 3rd page, which therefore rendered your whole paragraph and half a page on information provision superfluous. While it was not incorrect, it added no real value to your essay as you cannot get more than 3 L4 stamps.

    Your judgement and justification needed some work, this is the area that let you down. For OCR (for better or worse) they want you to answer the question in no uncertain terms. You need to say that "IT IS" or "IT IS NOT" the most effective solution. Then you should justify your opinion. The bit on short run and long run doesn't really fit as you offer no real context as to why it is there. Then you introduce the idea that the tax would eventually be removed, which seems contrary to your assessment in the essay that it is the thing that is reducing the market failure. In essence I would award you based on the mark scheme 15/18. With some tweaking it would easily score 16 (with a direct, non-clever judgement statement), but you need to work on delivering a clear, in depth justification to secure marks 17 and 18.

    Regards,

    Mr. E
    Thank you so much for your advice, I read this just before going into the exam and it turned out this was the exact 18 mark question that came up!
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    (Original post by Knowing)
    I'm actually not quite sure on the grade boundaries. There are lots of people saying "that was a really easy paper", and also lots of people that only did one shift in in D/S diagram, and people who did disadv/adv of specialisation, but not specifically for the firm.

    There were lots of places to lose marks, and the penultimate question was terrible. Grade boundaries I think will be around average? Can't really tell though
    Yeah, 80% for an A, 70% for a B
 
 
 
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