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    (Original post by BigDaave)
    Depends what you mean? If you've just sort of put it in there, I think they give you one or two marks, but the full 4 comes from an explained diagram...
    I have the effects and implications in the writing and the diagram illustrates my point but I haven't written like... increases from Q1 Q2, P1 P2 and all that stuff...do you know what I mean?
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    (Original post by jakelong1001)
    Can you email them to me too?
    And me
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    (Original post by Con_Mc)
    What actually was the 25 marker for context 2, I did it but think I may have misinterpreted the question??
    God knows. I didn't have enough time, didn't even mention externalities ;(
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    (Original post by thesmallman)
    I have the effects and implications in the writing and the diagram illustrates my point but I haven't written like... increases from Q1 Q2, P1 P2 and all that stuff...do you know what I mean?
    Yeah I get you. Hard to say if I'm honest, again, I think you're likely to pick up 1 or two just from having an accurate diagram.
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    Max mark with no mention of externalities but linked to context with things they can do and limitations? For essays. Context2
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    My predictions for grade boundaries:

    100 UMS - 71
    90 UMS - 64
    A - 57
    B - 50
    C - 43
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    Just realised for the 12 marker for context 2 I showed a shift in demand but I said if there's competition then there will be a increase in supply because consumers will follow latest trends so demand will increase..

    I've just completely messed it up haven't I?


    And also for the 25 marker I didn't conclude or make any reference to the contexts .. how many marks do you think I will get for the 25 marker ?
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    (Original post by tavleen123)
    Just realised for the 12 marker for context 2 I showed a shift in demand but I said if there's competition then there will be a increase in supply because consumers will follow latest trends so demand will increase..

    I've just completely messed it up haven't I?


    And also for the 25 marker I didn't conclude or make any reference to the contexts .. how many marks do you think I will get for the 25 marker ?
    To get above 20/21 in the essay i think you need to refer to the contexts
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    getting loads of pms . just put your email in it and I'll send out an email only for those who PM within the next 30mins as I need to revise. I will circle my answers ( if i remember them all correctly) and hopefully people can agree with them or tell me if I went wrong !
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    My overall view on the paper:

    MCQ - harder than usual but easy if you gave them some thought (some repeats from previous papers). Furthermore I thought it was quite easy to eliminate at least two in each question.

    Part B: chose context 1 purely down to the freedom of the 25 marker, and that I find it easy to talk about monopolies.

    Income inequality: I said that it was when the richest people have a much higher share of total income than the poorest. I then used an example (richest 5% earn 40% of income whereas poorest 5% earn just 2%) and then defined income. I took longer on this one as I really wasn't sure as it isn't a textbook definition.

    8 marker: absolutely fine, talked about peaks and troughs and then a rise from start to finish in both.

    12 marker: thinking about it I may have made a mess of this one. I drew a shift of the supply curve left, said when there is a shortage price rises as consumers supply less, therefore consumers respond to price signal by contracting demand, raising the price and resulting in the supply only going to those who are willing to pay for it. I then explained how this is allocating resources. (Didn't speak about producer price signals or the incentives function of prices).

    25 marker: after reading all of your responses it seems like I took a much for problem-based essay as opposed to solution-based. The question asked about IF the government should intervene, therefore I only talked about HOW in my evaluation for each type of market failure.

    Income: I said how this results in people getting the good on their ability to pay, not their need/want for it. I also said how this may be seen as wrong but economically it may be efficient as it incentivises people to work hard and gives them a reason not to be lazy. Said increase in income tax (progressive tax) can solve it.

    Monopolies I drew the standard monopoly diagram, talked about how it is bad because there is higher price and lower output, they make supernormal profit but there is deadweight loss. I then analysed by saying it can benefit from economies of scale and find R&D and briefly spoke about how govt. can break up monopolies e.g nationalisation. (But how that can give people an incentive to be lazy as they believe they'll be bailed out by the government.)

    Negative externalities. Quite angry I didn't use the extract, I basically talked about people ignoring MSC and just thinking about MPC and how there are costs to third parties. Then said smoking is an example which is Pretty PED in elastic so can be hard to stop.

    Concluded that in the case of monopolies and neg. externalities the govt should try to solve the market failure but argued that income inequality is inevitable due to different skills.


    Overall: think grade boundaries will be lower as I think they got it spot in with how to differentiate the better students. Possibly 54-57/75 for an A. Think this one was tough on time (I had 35 minutes for essay and barely finished, normally I get to the essay in around 40-45).

    I think I should get around the mid 60s hopefully.
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    Hi guys. Two questions. Does anyone remember the first 5 questions in the MCQs? I remember one was an example of a capital or something like that? Questions and Answers would be very helpful!

    Also, for the essay all I talked about were monopolies and how they could fail, how they may not fail and how govt intervention fails. Second paragraph was on Demerit goods where I said taxation would decrease consumption of the demerit good reducing the negative externality but all I talked about was gambling and the fact that taxes have a big impact on their incomes making the distribution even worse. Is this right?

    Finally, what was the 12 marker answer as I didn't relaly grasp the question and all I said was an example of the supply curve shifting causing the quantity to reduce and prices to rise. Would I get any marks in this 12 marker at all?

    Thanks a lot guys
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    (Original post by TJ24748)
    Hi guys. Two questions. Does anyone remember the first 5 questions in the MCQs? I remember one was an example of a capital or something like that? Questions and Answers would be very helpful!

    Also, for the essay all I talked about were monopolies and how they could fail, how they may not fail and how govt intervention fails. Second paragraph was on Demerit goods where I said taxation would decrease consumption of the demerit good reducing the negative externality but all I talked about was gambling and the fact that taxes have a big impact on their incomes making the distribution even worse. Is this right?

    Finally, what was the 12 marker answer as I didn't relaly grasp the question and all I said was an example of the supply curve ****ing causing the quantity to reduce and prices to rise. Would I get any marks in this 12 marker at all?

    Thanks a lot guys
    The capital question was B - a delivery van.

    I did exactly the same for the 12 marker and judging by previous mark schemes we should get full marks for the diagram and depending on your explanation you could still get full marks.
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    (Original post by thesmallman)
    Does anyone know if you still get marks for your diagram in the 12 marker if you haven't commented on it explicitly???

    Also, for people doing context 2- what diagram did you draw for the 12 marker- I just did an average total cost curve and a demand/supply showing supply shift to the right...have no idea tbh
    You get 3-4 marks for the diagram and extra AO2/AO3 marks for commenting on the diagrams.

    For context 2 productivity and specialisation, I would say outward shift of the PPF boundary to show the productivity gain and demand & supply diagram with S shifting to the right to S2 to show the supply-side gain from the productivity and its consequent competitive advantage price-wise. The PPF one is an assumption as I didn't personally draw it, I just kept it to the D&S as it's usually useless to draw two diagrams in 12 marks questions. This was the case, and the D&S is more relevant.

    Sharing this post from the other thread if anyone who did context 2 wants to discuss about it http://www.thestudentroom.co.uk/show...7#post55656137
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    Not sending anymore. If you have already sent it to me you'll get it in a bit just need to upload them.
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    No because it was scarce resources so supply needed to shift to the left. What you have drawn is the producer supplying more.
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    12 marker on context 1 I'm sure it just said explain how price causes allocation of scarce resources? I didn't do draw any shifts just movement along supply/demand curve causing a contraction/expansion in either curve. Also explained the functions of price such as price increases acts as incentive for suppliers to supply more and rations out demand
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    (Original post by Crozzer24)
    12 marker on context 1 I'm sure it just said explain how price causes allocation of scarce resources? I didn't do draw any shifts just movement along supply/demand curve causing a contraction/expansion in either curve. Also explained the functions of price such as price increases acts as incentive for suppliers to supply more and rations out demand
    I did the exact same as you bro, was a bit worried at first but now I think about it our diagram as it makes sense, given that price acts first
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    (Original post by Crozzer24)
    12 marker on context 1 I'm sure it just said explain how price causes allocation of scarce resources? I didn't do draw any shifts just movement along supply/demand curve causing a contraction/expansion in either curve. Also explained the functions of price such as price increases acts as incentive for suppliers to supply more and rations out demand
    Yeah I THINK/HOPE that almost every diagram is relevant and you just need to explain it well.

    However I didn't talk about the functions of prices (apart from price signals) as I thought it only really cared about allocation...
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    (Original post by Crozzer24)
    12 marker on context 1 I'm sure it just said explain how price causes allocation of scarce resources? I didn't do draw any shifts just movement along supply/demand curve causing a contraction/expansion in either curve. Also explained the functions of price such as price increases acts as incentive for suppliers to supply more and rations out demand
    Scarce resources would signal the price mechanism to ration the resources which eould affect income inequality as there would be a shift to the left of supply which would increase price and obviously reduce demand. The result would see the poorest be unable to afford the product.
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    I have a self marking MCR for Macro if anyone wants it?

    Papers from 2000-2013, it's helped me a lot!
 
 
 
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