Hey there! Sign in to join this conversationNew here? Join for free
    Offline

    0
    ReputationRep:
    Thanks for that AQA, lovely paper! Context 2 and Q7 & 8.
    Offline

    2
    ReputationRep:
    For section B (25 marker)

    It says concentrated markets and monopoly power..... does that mean you HAVE to talk about ologopolies or is talking about monopolies alone sufficient???!!?!??!
    Offline

    0
    ReputationRep:
    (Original post by BrightonDunkley)
    Anyone else get 50% for question 4 context 2?
    Yeah i did! It was either that or 2%
    Offline

    1
    ReputationRep:
    (Original post by charanjittt)
    yh i wrote the same aswell what real world examples did you give??? like for application
    Literally all I said was that Apple prof max and charge high prices so are often criticised yet they expand the technological frontier and are v dynamically efficient. Found it quite hard to apply any knowledge really wbu??
    Offline

    1
    ReputationRep:
    Did anyone do essay 1, about monopoly power. Would I lose marks for not mentioning oligopoly?
    Offline

    1
    ReputationRep:
    (Original post by Elfaituri98)
    Did anyone do the second context and the first essay question about monopoly power? If so what did you write about?
    I did!

    Context 2
    Question 4
    - 50%

    Question 5
    - Equality: everyone treated the same
    - Equity: normative theory of fairness (vertical and horizontal)
    - MRP Theory: low price of final product so low wage rate
    - Elastic demand from low barriers to entry (lack of required training)

    Question 6
    - Advantages of Living Wage: raises wage rate
    - Disadvantages of Living Wage: real wage unemployment
    - Alternatives: improve geographic and occupational mobility and trade unions
    - Conclusion: living wage best option in short run however mobility of labour in long run because of its potential to increase economic growth

    Essay Question 1
    Question 7- Outlined perfect competition and its conditions - Allocative efficiency because AR=MR curves are perfectly inelastic and price is set by market- Productive efficiency because forced to minimise costs in order to achieve normal profitQuestion 8Negatives of monopolies- Not statically efficient (higher prices and deadweight loss) Positive of monopolies- Economies of scale- Dynamic EfficiencyEvaluation- Reference to contestability - Overall positives outweigh negatives especially when monitored by CMA
    Offline

    2
    ReputationRep:
    This goes out to all the people who ****ed up like me :'(

    https://www.youtube.com/watch?v=X2WH8mHJnhM
    Offline

    0
    ReputationRep:
    Only issue I had originally is that I thought ' legislation to make the national minimum wage a living wage' in which the minimum wage becomes an informal benchmark rather than being legally enforceable.
    Offline

    0
    ReputationRep:
    Wow why did I get 60% for context 2
    Offline

    1
    ReputationRep:
    I answered essay 1, pretty sick answer i think, but the only issue is that i talked only about monopolies and monopoly power and didnt mention oligopolies once, so people think i'll lose marks, and if so how many???
    Offline

    1
    ReputationRep:
    what did people write for context 2 and essay 3??
    Offline

    2
    ReputationRep:
    If I wrote one wrong definition for the 10 marker but I make up more marks from my analysis can I still get 10 marks?
    Offline

    2
    ReputationRep:
    (Original post by sharjeel743)
    I answered essay 1, pretty sick answer i think, but the only issue is that i talked only about monopolies and monopoly power and didnt mention oligopolies once, so people think i'll lose marks, and if so how many???
    I did the same what was the question again?


    Posted from TSR Mobile
    Offline

    3
    ReputationRep:
    Can someone make a unit 4 thread plz
    Offline

    4
    ReputationRep:
    I regret choosing essay 3


    Posted from TSR Mobile
    Offline

    2
    ReputationRep:
    (Original post by castielle)
    what did people write for context 2 and essay 3??
    For essay 3 part 1, I mostly talked about positive and negative externalities and for part 2 I wrote similar bs , you?
    Offline

    0
    ReputationRep:
    Answers UNIT 3 ECO
    Multiple Choice

    1) A
    2) E
    3) B
    4) A
    5) E
    6) C
    7) D
    8) C
    • Thread Starter
    Offline

    15
    ReputationRep:
    (Original post by Kitkat5)
    Can someone make a unit 4 thread plz
    I can make it but i'd rather hear discussion on unit 3 a bit more. Unless someone else wants to make it
    Offline

    2
    ReputationRep:
    (Original post by Ndnsbdod d)
    Answers UNIT 3 ECO
    Multiple Choice

    1) A
    2) E
    3) B
    4) A
    5) E
    6) C
    7) D
    8) C
    what?
    Offline

    0
    ReputationRep:
    What percentage did those who did the first context get?
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Have you ever participated in a Secret Santa?
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.