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    (Original post by Jupers)
    why so? definitions werent bad, the context 1 25 marker was very general and you could talk about any market you wanted to (kind of) - so something you know best!

    i don't think i did well but i can see people doing better since there was so much to talk about

    does anyone have the actual MCQ questions and maybe answers so I can try remember and see what mark i got
    They weren't bad but I think that some elements of each question would have rendered a lot of students' performance to be below par - for instance, the definition of income inequality. Thus I'm guessing that on the whole, there might be a slight dip since it wasn't really a conventional exam, so to speak. But we shall see come August I guess
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    What did you guys pic for the MPC question where it asks about market failure? Diseconomies of scale or immobility factor (or something similar)??
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    (Original post by czj1997)
    what did you guys put for the MCQ question on the capital goods/derived demand?
    depends on demand for consumer goods
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    (Original post by jakelong1001)
    For question 2 on the multiple choice did you guys pick A - Delivery Van or B - Stocks & Shares?
    Van

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    (Original post by BBeyond)
    yh i got 4 d's in a row around there
    Damn, I got 3 As in a row at some point and I think I got DDCD or something there . . . I've forgotten half of the questions, though!
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    (Original post by ridirahman)
    What did you guys pic for the MPC question where it asks about market failure? Diseconomies of scale or immobility factor (or something similar)??
    factor immobility
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    What about the normal good relating to income elasticity and price elasticity? I said both were positive?
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    (Original post by BBeyond)
    i doubt it you didn't define income
    How about "it's an unequal distribution on income between the rich and the poor. Income is a flow of money and this generally represent skills in of people e.g. bankers on average make more than a cashier" for some reason my mind went blank so I tried my best to explain what I meant. Argh.

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    The question about what is associated with market failures is negative externalities btw, it came up on a previous paper.
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    (Original post by BBeyond)
    i doubt it you didn't define income
    I put 'when there is a gap between the rich and poor & wrote some more stuff..' is this right?
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    i didnt manage to finish the 25 markers tho
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    (Original post by Kiranjott)
    What about the normal good relating to income elasticity and price elasticity? I said both were positive?
    There were two questions on normal goods /inferior goods I think - if my memory is right, the first was about the effect of a fall in incomes - for that I think the answer was that demand for goods Y and Z only would increase.
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    (Original post by Kiranjott)
    What about the normal good relating to income elasticity and price elasticity? I said both were positive?
    income positive price negative

    (Original post by TheGreatImposter)
    How about "it's an unequal distribution on income between the rich and the poor. Income is a flow of money and this generally represent skills in of people e.g. bankers on average make more than a cashier" for some reason my mind went blank so I tried my best to explain what I meant. Argh.

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    I would say 5
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    (Original post by ridirahman)
    I put 'when there is a gap between the rich and poor & wrote some more stuff..' is this right?
    i don't think you'd get 5 sorry i may be wrong ofc
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    (Original post by TheGreatImposter)
    How about "it's an unequal distribution on income between the rich and the poor. Income is a flow of money and this generally represent skills in of people e.g. bankers on average make more than a cashier" for some reason my mind went blank so I tried my best to explain what I meant. Argh.

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    It's okay, I think I said something like income is the wages paid to an individual after tax deductions and when assets like stocks and shares are added, and inequality means that there is an uneven distribution and therefore a disparity between the incomes of the individuals in an economy. Something like that?
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    (Original post by Wawasan)
    Good on the whole, I suspect grade boundaries will be a little bit lower than last year maybe.

    I'm just wondering - for the multiple choice, did any of you end of with the answer D for questions 7, 8, 9 AND 10? Or something similar - I can't remember. I was a bit surprised to end up with four in a row but I suppose Iwas confident of the answer being D at the time!
    Yes.
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    (Original post by Wawasan)
    There were two questions on normal goods /inferior goods I think - if my memory is right, the first was about the effect of a fall in incomes - for that I think the answer was that demand for goods Y and Z only would increase.
    what did you put for the question about british gas bro? pretty sure I put D
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    (Original post by BBeyond)
    what did you put for the question about british gas bro? pretty sure I put D
    Hmm I really can't remember the question? :confused: If I recognize it then I'm sure I'd remember!
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    (Original post by Wawasan)
    Hmm I really can't remember the question? :confused: If I recognize it then I'm sure I'd remember!
    it said gas prices rose 18% or something? then what does the data infer
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    what about the last mcq question on monopoly? the answers were like high prices lead to market failure, product differentiation has low barriers of entry and others i forgot.
 
 
 
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