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    (Original post by ciarapricex)
    my teacher has predicted either market or government failure to come up as both of them have been fairly consistent over the years. does anyone have any example questions on market failure or government failure please?
    Most of the 14 mark questions in previous years are about market & government failure.
    http://www.physicsandmathstutor.com/...dexcel-unit-1/
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    when u guys say market failure or government failure is likely to come up... does that mean they'll ask the essay question on market failure as a whole or a particular market failure e.g externalites or information failure
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    (Original post by Da-K1ng)
    when u guys say market failure or government failure is likely to come up... does that mean they'll ask the essay question on market failure as a whole or a particular market failure e.g externalites or information failure
    Either could come up. But what difference does it make?
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    Im predicting it to either be Externalities or Indirect Tax
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    does no one think any elasticity SA questions will come up?
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    (Original post by TheProKi)
    Im predicting it to either be Externalities or Indirect Tax
    What would an indirect question look like?
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    (Original post by IJKninetyeight)
    What would an indirect question look like?
    Um not really sure but like
    Evaluate the effects of Indirect Tax on "...." on "...."
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    (Original post by IJKninetyeight)
    What would an indirect question look like?
    Explain the possible economic effects of an indirect tax on sugary foods
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    Oil prices dropped substantially this year- there could be a question on that?
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    I would not be surprised if oil prices or house prices in london, the paper iwll either be really hard or quite simple.
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    House prices was 2015 paper so very unlikely they use it but yeah oil and sugar are very relevant rn
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    Unlikely to be sugar as these papers were written before the announcement of the sugar tax.
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    Looking at the previous years I think it's possible, oil first came up after housing and housing came up again last year although we are on a new spec so I guess it doesn't count but oil would be a fantastic way to start! That or heathrow's third runway/Gatwick expansion
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    How did you guys find it?
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    Ran out of time :/
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    WHAT THE F*** WAS THAT.

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    I agree with the comment 'WHAT THE F*** WAS THAT' which context did you guys chose 1 or 2?
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    I found question 2 easier
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    I definatley think that was a hard paper- I did question 2, but the 15 marker threw me a lot..the multiple choice were ok but some were q bit tricky and for me question 6 was all ok apart from 15 marker hopefully the grade boundaries will be low fingers crossed
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    (Original post by Bigbosshead)
    A question was as follows:A 20% rise in incomes brings a 25% in the bookings at hotels in Blackpool.

    This means:


    Hotels in Blackpool are inferior goods-
    Hotels in Blackpool are a normal good
    Hotels in Blackpool have income elastic demand
    Hotels in Blackpool are a luxury product.

    Surely the answer is part d.) as the income price elasticity of demand (responsiveness of the quantity demanded of the good or service following a change in real income) is >1?
    Bit late to the party, but as TF said, it could be a mixture.

    From my own opinion, based on YED goods can either be normal or inferior, this one being a normal good, so if you had to choose one, I would say normal good!
 
 
 
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