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    Let's all hope econ 4 is like today's paper 🙏. Don't really know what grade I will get because it's down to what the examiner thinks of it now. However, I felt more confident with context 2 and essay 2 questions compared to any other paper I did.
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    (Original post by castielle)
    what did people write for context 2 and essay 3??
    (Original post by naomi288)
    I regret choosing essay 3


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    didn;'t essay 3 feel really AS like? I'm worried I didn't hit the A2 marks idk what did you guys write? I wrote about:

    25 marker:
    Government should provide public goods because without the government providing it, the welfare would be 0, because no firm will provide it/since they are non-excludable and non-rivalrous. Therefore, there is definitely an increase in welfare (since it goes from 0 to whatever).

    I then wrote about merit goods, how they're important, if government provides them then it is fair and there is equity since poor people won't be excluded, education and healthcare both have social impacts which is another reason government should do it.

    Then I wrote that actually, currently the NHS is struggling and is being inefficient since the government owns it. Organisational slack etc. Market forces would instead be better because they would be more allocative efficient, and make better use of resources so welfare is maximised. Also I wrote if it were privatised, then more advertising would happen which would encourage people to go to their GP etc, so consumer surplus is increased.

    I concluded by saying welfare can be maximised if government provides both type of goods because they won't discriminate against certain areas i.e. rural towns with small populations. But it is best if government outsources merit goods and still has ownership.

    --

    Overall, I feel I did fine but I'm worried my answers to essay 3 were too AS like and I didn't know how to use my A2 knowledge in answering it :/ I wish I did essay 1...
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    (Original post by BrightonDunkley)
    Anyone else get 50% for question 4 context 2?
    I honestly spend so long just making sure I'd read it properly 😂 what an absolute gift of marks haha.
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    for context 2, the 10 marker about why if left to market forces, some people would be paid an unfair amount, lots of people have used MRP theory and the shifts of that etc,

    I mentioned how in a monopsonistic labour market, they pay workers a wage under the equilibrium and thus they get underpaid etc, i drew the diagram showing how they are under paid and explained it etc

    are both views right?
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    (Original post by BirdIsWord)
    Sounds good, you got a lot of theory in. I didnt do that essay though. What was the title?
    essay question was if monoplys/conc markets are undesirable or not. Basically tlaked about monopoly being desired coz dynamic efficieny and benefits consumers in the long run etc.
    then countered with para on being allocatively inefficient, causing welfare loss and negative externalities can result if firms dont provide socially optimal level.

    then concluded talking about how we measure if a market is 'undesirable' etc.
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    (Original post by lahorizon)
    didn;'t essay 3 feel really AS like? I'm worried I didn't hit the A2 marks idk what did you guys write? I wrote about:

    25 marker:
    Government should provide public goods because without the government providing it, the welfare would be 0, because no firm will provide it/since they are non-excludable and non-rivalrous. Therefore, there is definitely an increase in welfare (since it goes from 0 to whatever).

    I then wrote about merit goods, how they're important, if government provides them then it is fair and there is equity since poor people won't be excluded, education and healthcare both have social impacts which is another reason government should do it.

    Then I wrote that actually, currently the NHS is struggling and is being inefficient since the government owns it. Organisational slack etc. Market forces would instead be better because they would be more allocative efficient, and make better use of resources so welfare is maximised. Also I wrote if it were privatised, then more advertising would happen which would encourage people to go to their GP etc, so consumer surplus is increased.

    I concluded by saying welfare can be maximised if government provides both type of goods because they won't discriminate against certain areas i.e. rural towns with small populations. But it is best if government outsources merit goods and still has ownership.

    --

    Overall, I feel I did fine but I'm worried my answers to essay 3 were too AS like and I didn't know how to use my A2 knowledge in answering it :/ I wish I did essay 1...
    i wrote an essay very similar to that and also including how irrational individuals are so if merit goods arent provided, goods/services like education may not be used as much. is that a correct point?
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    (Original post by Alextaylor6)
    I did context 1 and essay 3, the questions were ****ing weird man
    I agree, I did the same questions and I feel like I just did an AS paper :/
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    (Original post by castielle)
    i wrote an essay very similar to that and also including how irrational individuals are so if merit goods arent provided, goods/services like education may not be used as much. is that a correct point?
    Yes, that makes sense as it can explain why merit goods are under consumed. and Ok I'm glad we both wrote similar things then, I was really worried that it was too basic/that perhaps I had misinterpreted the question or something.
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    EconplusDal might have just helped save my econ3 grade today!
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    (Original post by Nathan2580)
    for context 2, the 10 marker about why if left to market forces, some people would be paid an unfair amount, lots of people have used MRP theory and the shifts of that etc,

    I mentioned how in a monopsonistic labour market, they pay workers a wage under the equilibrium and thus they get underpaid etc, i drew the diagram showing how they are under paid and explained it etc

    are both views right?
    I did the same...talked about people having different MRP, discrimination and monopsony and drew diagrams


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    Anyone know what the percentage was for Q1 Context 1??
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    (Original post by CharlieeY)
    Anyone know what the percentage was for Q1 Context 1??
    1.87%
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    (Original post by cherry1997)
    1.87%
    Thank god! I did it so quickly and didn't check it at the end as I didn't have time to check my answers :/
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    For my essays I only did 2 paragraphs in between my intro and conclusion but they were all huge, I should be able to still do alright yeah? Tried to follow the structure econplusdal gives, hard to get specific examples in, used context given quite a lot. Anyone else find this?
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    (Original post by CharlieeY)
    For my essays I only did 2 paragraphs in between my intro and conclusion but they were all huge, I should be able to still do alright yeah? Tried to follow the structure econplusdal gives, hard to get specific examples in, used context given quite a lot. Anyone else find this?
    Depends which essays you did
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    (Original post by lahorizon)
    didn;'t essay 3 feel really AS like? I'm worried I didn't hit the A2 marks idk what did you guys write? I wrote about:

    25 marker:
    Government should provide public goods because without the government providing it, the welfare would be 0, because no firm will provide it/since they are non-excludable and non-rivalrous. Therefore, there is definitely an increase in welfare (since it goes from 0 to whatever).

    I then wrote about merit goods, how they're important, if government provides them then it is fair and there is equity since poor people won't be excluded, education and healthcare both have social impacts which is another reason government should do it.

    Then I wrote that actually, currently the NHS is struggling and is being inefficient since the government owns it. Organisational slack etc. Market forces would instead be better because they would be more allocative efficient, and make better use of resources so welfare is maximised. Also I wrote if it were privatised, then more advertising would happen which would encourage people to go to their GP etc, so consumer surplus is increased.

    I concluded by saying welfare can be maximised if government provides both type of goods because they won't discriminate against certain areas i.e. rural towns with small populations. But it is best if government outsources merit goods and still has ownership.

    --

    Overall, I feel I did fine but I'm worried my answers to essay 3 were too AS like and I didn't know how to use my A2 knowledge in answering it :/ I wish I did essay 1...
    i completely forgot that public goods wouldn't be provided fuuuuuuuuuuuck
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    For context 1 in the 10 marker I included a tax diagram. However I also included tax diagram in the essay as well. Will this cap me?
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    (Original post by prepdream)
    Discuss the relative importance of market forces and government intervention in encouraging firms to act more responsibly towards environment. Something like that.
    hmm. How did you argue that market forces were relevant? i didnt have much to say for that..
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    (Original post by Hshzhzhzhzh)
    For context 1 in the 10 marker I included a tax diagram. However I also included tax diagram in the essay as well. Will this cap me?
    oh god, I used only an externality diagram throughout the entire exam !! :l didn't know there would be a cap ...
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    (Original post by lahorizon)
    oh god, I used only an externality diagram throughout the entire exam !! :l didn't know there would be a cap ...
    loool same, i don't think there is tho
 
 
 
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