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    Hey i re-sat this exam this afternoon, thought it was a lot more straightforward than the june 2010 one. And the nice mental image of a Maldivian beach helped
    But that XED question was a bit of a headache, why complicate things with 3 different XED's?
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    (Original post by TrampingRampage)
    Ahh that didn't go very well was too focused on Physics. The paper was fine up until that last question, didn't have a clue about regulations and carbon emissions (I thought it was something about carbon dioxide pollution and tradable permits, so blabbed a load about that..) and then that question before, anywhere else put that the beaches are a quasi public good (rival but non-excludable)?

    Also, that question on the D & S if construction of hotels took place, I thought about it for ages. I knew it was an increase in supply and I didn't know if it was also an increase in demand, so I drew two demand curves and two supply curves..
    So worried
    I think everything u have put is right tbh i put exactly the same things for the last question and pollution permits is a regulation, I too put that a beach is a quasi public good for hte same as it is not exculdible but rivalrous, and on the demand and supply one, i think only supply was meant to move.. i put why i think this on my previous post lol U have done better than u think x
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    i am slightly disappointed with the regulation question, i did evaluate, showed a diagram and anlysed the dpro's and cons, but i couldnt add an alternative method the US could use instead of regulation such as tax etc. did anyone alse do that?
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    (Original post by groat)
    i also put it was a quasi-public good, i was assuming that question would be more than 4 marks as it normally asks you 'to what extent' is it a public good. I spoke about some beaches being made excludable as well, but with difficulties, then mentioned how an empty beach is non-rivalrous, but a full beach is rivalrous.

    Also, i'm pretty sure (unless someone has a decent enough reason to prove me wrong) that the demand curve has no reason to shift in that question.
    oo i only talked about non- rival and non excludable for the public good question as it was only 4 marks
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    (Original post by xhollyxx)
    how did people find the XED question? because i'm not sure i answered it right, then the QD of kofu decreased by 40% and Maldova's price of holiday fell by 30% i did 40%/30% to give me +1.33 for the XED is that right.. so then i put that it was a substitute as it was positive and also that it was elastic as it was more than one..
    Yhh I got the same figure too. I then commented saying that because it is positive and +1.33 it means that there is a strong relationship between the change in price of a holiday in the maldives and the demand for holidays in Goa. +1.33 Also indicates that both are substitutes therefore a fall in price of a holiday in Maldives will lead to a fall in demand for holidays in Goa.....
    But did we have to say the business use and the fact that x.e.d figures are estimate and can be imprecise coz I didn't hav tym
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    (Original post by posh.totty)
    Yhh I got the same figure too. I then commented saying that because it is positive and +1.33 it means that there is a strong relationship between the change in price of a holiday in the maldives and the demand for holidays in Goa. +1.33 Also indicates that both are substitutes therefore a fall in price of a holiday in Maldives will lead to a fall in demand for holidays in Goa.....
    But did we have to say the business use and the fact that x.e.d figures are estimate and can be imprecise coz I didn't hav tym
    I think for the comment marks on the XED question, they were hoping you'd realise that:
    - XED values are only estimates, the data isn't accurate.
    - Any other factors can affect XED values such as advertising, income, substitute prices, so the forecast can be completely wrong.
    - Just because Goa has a 20% loss of quantity demanded, it doesn't mean Maldives will have a +20% increase in quantity demanded.

    I think the last one is the most obvious, but the one most of my friends completely forgot to mention. You could then go on to saying that the relevance is low because of this.
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    (Original post by posh.totty)
    Yhh I got the same figure too. I then commented saying that because it is positive and +1.33 it means that there is a strong relationship between the change in price of a holiday in the maldives and the demand for holidays in Goa. +1.33 Also indicates that both are substitutes therefore a fall in price of a holiday in Maldives will lead to a fall in demand for holidays in Goa.....
    But did we have to say the business use and the fact that x.e.d figures are estimate and can be imprecise coz I didn't hav tym
    Ohh thats good at least we got the first bit right then i think.. and no i didn't write about it being an estimate and stuff cos i ran out of lines so i didn't think it was neccessary to write anymore.. stupid excuse i know, but hopefully we didn't need that lol x
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    This exam was ok. You get 4 marks on the 18 mark just for saying what the meaning of Market Failure is. Saying its a negative externality and and meaning and showing the negative externalitity graph. I wrote all the advantage fo the tax in one paragraph and all the disadvantage in another, showed the tax graph, and evalutate it, saying the negatives out way the positives. I talked about information failure, how the gov could advertise, was really tired at this point, so just wrote anything. Said how tax could bring in revene for subsides that could be used on positive externalities etc.

    Showed the subsidy graph, just because I think it can get you just one mark.

    What did everyone write for the definition of market?

    I wrote it a place where buyers and sellers interact and agree to trade at a price.

    I wrote about tradable permits, but time was up and could not finish it and evalute it, max i got I think was a C. Gonna retake anyway do lots of exam practise and try to get a A.
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    (Original post by kingshan16)
    This exam was ok. You get 4 marks on the 18 mark just for saying what the meaning of Market Failure is. Saying its a negative externality and and meaning and showing the negative externalitity graph. I wrote all the advantage fo the tax in one paragraph and all the disadvantage in another, showed the tax graph, and evalutate it, saying the negatives out way the positives. I talked about information failure, how the gov could advertise, was really tired at this point, so just wrote anything. Said how tax could bring in revene for subsides that could be used on positive externalities etc.

    Showed the subsidy graph, just because I think it can get you just one mark.

    What did everyone write for the definition of market?

    I wrote it a place where buyers and sellers interact and agree to trade at a price.

    I wrote about tradable permits, but time was up and could not finish it and evalute it, max i got I think was a C. Gonna retake anyway do lots of exam practise and try to get a A.
    But it said discuss wether regulations is the "most effective" way of reducing government failure n for that reason I thought that to get 11+ you need to say how the advantages for regulations outweigh any other alternative but explaining and giving other methods such as tax, tradable permits...??
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    I moved the demand curve on that other question about the hotels...I am ...disappointed
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    (Original post by xhollyxx)
    Ohh thats good at least we got the first bit right then i think.. and no i didn't write about it being an estimate and stuff cos i ran out of lines so i didn't think it was neccessary to write anymore.. stupid excuse i know, but hopefully we didn't need that lol x
    Looool me too.. I jus ran outta time
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    [QUOTE=posh.totty;29336581]But it said discuss wether regulations is the "most effective" way of reducing government failure n for that reason I thought that to get 11+ you need to say how the advantages for regulations outweigh any other alternative but explaining and giving other methods such as tax, tradable permits...?? [/QUOTE

    See I would have said in order to get 11 or more you would need to draw a balanced argument for and against, then evaluate with alternatives. The drawing of a diagram is not essential but there is no doubt it would help
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    (Original post by Rishz)
    I moved the demand curve on that other question about the hotels...I am ...disappointed
    If u say there was a fall in price and rise in output u will still get 2 marks
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    (Original post by posh.totty)
    Looool me too.. I jus ran outta time
    Me three...ran out of lines
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    (Original post by posh.totty)
    But it said discuss wether regulations is the "most effective" way of reducing government failure n for that reason I thought that to get 11+ you need to say how the advantages for regulations outweigh any other alternative but explaining and giving other methods such as tax, tradable permits...??
    Yh also did a paragraph on the regulations as well the advantages and disadvantages.

    My evaulation was going to be really good but my poor time managment screwed it up. Could have got a decent grade, now I have to do it all again in June.

    Starting unit 2 work on Friday, I need a nice B or A in that.
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    (Original post by posh.totty)
    If u say there was a fall in price and rise in output u will still get 2 marks
    phew, thats a relief, at least i get some marks
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    [QUOTE=carl_b;29336638]
    (Original post by posh.totty)
    But it said discuss wether regulations is the "most effective" way of reducing government failure n for that reason I thought that to get 11+ you need to say how the advantages for regulations outweigh any other alternative but explaining and giving other methods such as tax, tradable permits...?? [/QUOTE

    See I would have said in order to get 11 or more you would need to draw a balanced argument for and against, then evaluate with alternatives. The drawing of a diagram is not essential but there is no doubt it would help
    Yeh you're probably right then,, makes sense
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    (Original post by kingshan16)
    Yh also did a paragraph on the regulations as well the advantages and disadvantages.

    My evaulation was going to be really good but my poor time managment screwed it up. Could have got a decent grade, now I have to do it all again in June.

    Starting unit 2 work on Friday, I need a nice B or A in that.
    Unit 2 as in the national and international economy for as ?

    Is anyone sitting the transport paper on 28th jan.. Hate dat... Sucha killa
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    I hope everyone on here got the 4 easy marks.

    The public good characteristics;

    - nonrivalry and nonexcludability

    The equation for XED

    % change in quantity demanded for product A divide by % change in price of product B

    For the luck ones who wrote the correct definition of Market would have got another 2 marks. So 6 marks are sure for some people

    I wrote Market :

    Is a place where buyers and sellers interact and agree to trade at a price.
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    (Original post by posh.totty)
    Unit 2 as in the national and international economy for as ?

    Is anyone sitting the transport paper on 28th jan.. Hate dat... Sucha killa
    Yeah I am sitting it, doing AS and A2 in one year. Should be ok, just the sheer length of it that gets me :L
 
 
 
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