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Edexcel Economics: Unit 3 Business Economics and Economic Efficiency (June 2014) EC03 Watch

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    (Original post by garveya)
    What happens if you didnt put an x in the box of the question you picked?
    Don't worry, it doesn't matter, the examiners have to scan whole paper before marking anyway.
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    What do you think the raw marks would be for an A or A*? I feel like I'm going to be borderline A* which adds more pressure for unit 4 :unimpressed:
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    (Original post by ThatGirlYasmin)
    and what about the 16 mark question?

    I spoke about predatory pricing and evaluated it as illegal, limit pricing and used kinked demand theory as evaluation, then spoke about non pricing strategies... advertisement, quality improvement and loyalty schemes and evaluated them as costly and because of interdependence other firms may follow suit and advertise so may not be effective bla bla bla
    Yeah all those points are perfectly acceptable, as long as you explained and evaluated properly you will get the 16 marks.
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    (Original post by DaveJHH)
    Don't worry, it doesn't matter, the examiners have to scan whole paper before marking anyway.
    Think I forgot to do that as well.
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    (Original post by Alexovic)
    Think I forgot to do that as well.
    Don't worry haha, I've asked a guy on the examining team and he said its fine. I've never once ticked the x for unit 1 or 2 and I've actually never bothered to write my candidate number :P
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    (Original post by garveya)
    What happens if you didnt put an x in the box of the question you picked?
    If you can, contact your exam officer and they may be able to sort something out. If not the examiners will see that you've answered the questions on the lines in that question section so you will be fine. Don't worry!

    Still try to speak to your exam officer though.
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    What was the q and answer to q2??
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    (Original post by garveya)
    i did collusion, predatory pricing, advertising and R&D for the q9 16 marker. would that be okay?
    i swear you can't have loyalty cards for a pack of gum??
    I managed to get a fifth point in about giving free gifts away the chewing gum. 😆
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    for question 10)ii) would you get any reward for showing that the shutdown point wasnt achieved but they were still making a loss. i know unlikely but let me know
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    (Original post by DaveJHH)
    Don't worry haha, I've asked a guy on the examining team and he said its fine. I've never once ticked the x for unit 1 or 2 and I've actually never bothered to write my candidate number :P
    It's easy to forget as you're more focused on finishing the paper in the time. Slipped out of my mind. At least I'll remember for unit 4.
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    (Original post by Alexovic)
    It's easy to forget as you're more focused on finishing the paper in the time. Slipped out of my mind. At least I'll remember for unit 4.
    will you get 2 marks for two correct definitions?

    will you get two marks for two correct knockouts?
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    (Original post by garveya)
    What happens if you didnt put an x in the box of the question you picked?
    Nothing, they mark the one you answered. I didn't do it last year and it was fine... I realised I didn't do it again this year :P


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    (Original post by T_Mag)
    it was something about supermarkets all selling bread at the same price and the answer was the action of one will afftect the actions of others as they are interdependant
    Lol everyone kept saying interdependent and all I remembered was seeing independent.
    Now I remember it was interdependent right at the end of the wording. Thanks, I got that answer..
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    (Original post by topblogger)
    Lol everyone kept saying interdependent and all I remembered was seeing independent.
    Now I remember it was interdependent right at the end of the wording. Thanks, I got that answer..
    no worries, i was trying so hard to rememeber then it hit me
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    (Original post by John_Boi)
    Does any one else think the 1st MCQ was evil?
    YES! In previous MCQs about vertical mergers they would have firms that deal with completely different (but obviously related) things such as coal mining to create steel, or say cotton farming to make clothes. MILK FOR MILK?! It just makes it much harder to distinguish and those who got the wrong answer don't necessarily know any less about mergers, we should get 3/4 marks I think :/
    then again, maybe we deserve it for not reading it thoroughly enough
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    (Original post by olly100)
    YES! In previous MCQs about vertical mergers they would have firms that deal with completely different (but obviously related) things such as coal mining to create steel, or say cotton farming to make clothes. MILK FOR MILK?! It just makes it much harder to distinguish and those who got the wrong answer don't necessarily know any less about mergers, we should get 3/4 marks I think :/
    then again, maybe we deserve it for not reading it thoroughly enough
    I thought you could only 2/4 if wrong answer.
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    (Original post by Alexovic)
    I thought you could only 2/4 if wrong answer.
    yes you're right, I meant to say that in a just world the examiners would take pity and make an exception for this question. That will never happen of course :'D
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    (Original post by olly100)
    yes you're right, I meant to say that in a just world the examiners would take pity and make an exception for this question. That will never happen of course :'D
    well occasionally if enough people get the question wrong atthe bottom of the mark scheme it may " candidate chose A - award marks for valid explanation" dont see it that much but has happened a few times
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    (Original post by DaveJHH)
    Don't worry haha, I've asked a guy on the examining team and he said its fine. I've never once ticked the x for unit 1 or 2 and I've actually never bothered to write my candidate number :P
    How do you know the guy on the examining team?


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    For the question 9 8 marker I put

    Definition of patents: legal right or protection to produce a product or an idea/concept which acts as an incentive to invest and acts as a barrier to entry. And this is for a set period of time

    Benefit one: there's an incentive to invest as it's an exclusive right to produce the product and reap the benefits etc....

    Evaluation: creates a monopoly as the parent is a barrier to entry for other firm so there is a sole supplier which could lead to exploitation of consumers higher prices and reduced consumer surplus etc....

    Benefit two: they have a set period of time to gain economies of scale and become larger to be able to produce at a lower price etc...

    And I didn't really evaluate not that I can remember properly anyway
    How many marks do people think that'll get me?
 
 
 
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