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    What did everyone put for the definition of 'substitute'
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    (Original post by Tarmu)
    In my opinion there shouldn't be a time restraint on exams - silly if you ask me.
    you need a time limit but 75 minutes is ridiculous, i left myself 15 minutes to do MC and it was hard so needed more time to read questions and i didnt have it. i did the context 1, i thought it was quite nice, subsidies definition easy, data analysis was easy, 12 marker was positive externality diagram and how merit goods provided by gov not market because... and i needed more time on the essay but i mainly spoke out subsidy and how it affects taxpayer.
    Then argument for fees which included data from extract on how graduates earn more than non-graduates, also included positive and negatives of susbsidies(opportunity cost) and definitions and a subsidy diagram. Finally a conclusion and gave my opinion that their should be fees, then introduced new point on how students wont drop out and will be dedicated.
    Data response might save me after a shocking MC.
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    (Original post by katie_evo)
    for the subsidy definition i put something along the lines of:
    A subsidy is a form of government intervention often used in merit goods or goods that have a positive externality. The government helps to increase supply to leads to a cheaper price level therefore output increases.
    What would this get?
    I'd say 5/5 -

    You said it was a form of Government Intervention and that the price level drops, thus increasing output which is the key point to a subsidy.
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    For the 25 marker I wrote about:

    - Merit goods and the definition
    - Subsidies and the definition
    - A point that if people did not have to pay university tuition it would better skill people and make them more employable thus boosting wage rates and subsequently GDP. I supported this point with an insufficient GDP diagram (did not show Aggregate supply)
    - An argument that it could decrease the demand for jobs in the labour industry as we would be able to claim higher wage rates elsewhere with better skill sets and the government may have to increase the minimum wage rate in order to provide an incentive for people to join the labour industry rather than enter higher education.

    Then I ran out of time. What would you give this answer out of 25?
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    I put Derived Demand?
    Because in Unit 3 last week we spoke of derived demand and my teacher insisted that the 'demand for labour' is derived from the 'demand for goods' and air travel was considered in the context of a service.
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    (Original post by rageagainstessays)
    I put Derived Demand?
    Because in Unit 3 last week we spoke of derived demand and my teacher insisted that the 'demand for labour' is derived from the 'demand for goods' and air travel was considered in the context of a service.
    It's definitely derived demand. Derived demand is when the demand for one good comes from the demand for another.

    In this case, an increase in the demand for air travel, would lead to an increase in the demand for airline pilots.
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    I put composite demand because I was thinking that planes REQUIRE both of them. However, it is derived because the plane and the pilot do not come from the same 'source block' which is what composite demand implies.
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    I mentioned most above but waffled on abit, I went for the get the facts down and write as much as possible approach, probally much was *******s really. Needed an extra booklet in the end. I'd be happy with a C in this subject as I picked it up in the second year.
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    (Original post by AlexanderStuart)
    It's definitely derived demand. Derived demand is when the demand for one good comes from the demand for another.

    In this case, an increase in the demand for air travel, would lead to an increase in the demand for airline pilots.
    Exactly what I thought!
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    Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh hhhhhhhh
    on to unit2.
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    Context 1. - SUMMARY

    1) Defined Merit Goods, Financing and subsidies.
    2) Increased school tuition fees shift supply right. Use of Extract. Shift MPB to MSB (Did not draw diagram, but referred to diagram I used in Q3 due to lack of time- would that be okay?). BUT decrease demand, use of extract, low income families. Therefore have little overall effect on price equilibrium.
    3) Subsidies, use of extract, diagram showing supply shift to the right, identification that it would switch MPB to MSB . Subsidies can also be used to finance students, may increase govt debt but can be generated from tax revenue(use of extract somewhere along them lines) This would also have same effect.
    4) Very short conclusion, 4 lines on being against raising tuition fees, may have repeated myself.

    Can anyone give me an honest answer on what they think I got /25? Would be much appreciated!
    Very time constraining
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    (Original post by NumberSeven)
    Context 1. - SUMMARY

    1) Defined Merit Goods, Financing and subsidies.
    2) Increased school tuition fees shift supply right. Use of Extract. Shift MPB to MSB (Did not draw diagram, but referred to diagram I used in Q3 due to lack of time- would that be okay?). BUT decrease demand, use of extract, low income families. Therefore have little overall effect on price equilibrium.
    3) Subsidies, use of extract, diagram showing supply shift to the right, identification that it would switch MPB to MSB . Subsidies can also be used to finance students, may increase govt debt but can be generated from tax revenue(use of extract somewhere along them lines) This would also have same effect.
    4) Very short conclusion, 4 lines on being against raising tuition fees, may have repeated myself.

    Can anyone give me an honest answer on what they think I got /25? Would be much appreciated!
    Very time constraining
    Your 3) seems to have good analysis and you've evaluated as you've gone throughout your essay which is what "higher performing" candidates do.

    The lack of conclusion, may have an impact? not too sure on that one, depends on the strength of your evaluation throughout your essay.

    I'd say it sounds like you've got at least 15+
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    (Original post by Lawlser)
    Your 3) seems to have good analysis and you've evaluated as you've gone throughout your essay which is what "higher performing" candidates do.

    The lack of conclusion, may have an impact? not too sure on that one, depends on the strength of your evaluation throughout your essay.

    I'd say it sounds like you've got at least 15+
    Thanks for getting back to me well appreciated! But do you think Ill be penalized for referring to the diagram in a previous question rather than drawing it?
    Could anyone offer a second opinion? Im just very curious as of what Ive got! Thank you
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    (Original post by NumberSeven)
    Thanks for getting back to me well appreciated! But do you think Ill be penalized for referring to the diagram in a previous question rather than drawing it?
    Could anyone offer a second opinion? Im just very curious as of what Ive got! Thank you
    I don't think you'd be penalised, maybe just not considered the points you mentioned. Remember diagrams aren't a necessity, its perfectly easy to get full marks without them. Hard grading you when we can't see exactly what you've written but I'd go 15-18 marks, lack of conclusion may effect it but if you've evaluated as you've gone through that might help.


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    (Original post by AlexanderStuart)
    I don't think you'd be penalised, maybe just not considered the points you mentioned. Remember diagrams aren't a necessity, its perfectly easy to get full marks without them. Hard grading you when we can't see exactly what you've written but I'd go 15-18 marks, lack of conclusion may effect it but if you've evaluated as you've gone through that might help.


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    Wow thanks! I expected much lower!
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    I kept using the word 'output' instead of 'quantity', do you guys think this will be a problem?
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    (Original post by NumberSeven)
    Thanks for getting back to me well appreciated! But do you think Ill be penalized for referring to the diagram in a previous question rather than drawing it?
    Could anyone offer a second opinion? Im just very curious as of what Ive got! Thank you
    Hm,

    Now that's a tricky one....

    As long as throughout your Data Response you labelled your diagram in Question 3) as Figure 1 and in your 4th question you said, "as you can see from Figure one in Question 3" then it shouldn't be a problem!

    Personally, I would have drawn it but that only counts as analysis and if the analysis in the rest of your essay is good you should be fine! Honestly, I sat this in Jan just gone, came out of it thinking **** **** **** I done this and that wrong but I actually got 92 UMS, so all I can say is don't fret about it and look towards your next exam!

    Good luck

    P.S. my teacher gave me a PERFECT answer the exam board had distributed from June 2012, and they only had one diagram, hopefully that instills confidence.
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    (Original post by Lawlser)
    Hm,

    Now that's a tricky one....

    As long as throughout your Data Response you labelled your diagram in Question 3) as Figure 1 and in your 4th question you said, "as you can see from Figure one in Question 3" then it shouldn't be a problem!

    Personally, I would have drawn it but that only counts as analysis and if the analysis in the rest of your essay is good you should be fine! Honestly, I sat this in Jan just gone, came out of it thinking **** **** **** I done this and that wrong but I actually got 92 UMS, so all I can say is don't fret about it and look towards your next exam!

    Good luck

    P.S. my teacher gave me a PERFECT answer the exam board had distributed from June 2012, and they only had one diagram, hopefully that instills confidence.
    Yeah I did that thank god! haha! Okay thank you!
    Yeah grade boundaries dont seem to bad, aiming for a C/B. Past grade boundaries seem to be around 42-45 for a C and 50 for a B
    Think Ive got 16-18 multiple choice, 19 in data response, unsure about 25 marker. What mark would you say that is out of 25?
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    (Original post by NumberSeven)
    Yeah I did that thank god! haha! Okay thank you!
    Yeah grade boundaries dont seem to bad, aiming for a C/B. Past grade boundaries seem to be around 42-45 for a C and 50 for a B
    Think Ive got 16-18 multiple choice, 19 in data response, unsure about 25 marker. What mark would you say that is out of 25?
    So you're saying that in your DRQ you got for the first 3 questions:

    19/25?

    And lets say you get for the fourth question at THE LEAST (because your answer does seem to be good) 15,

    then added together that would make:

    50/75 added with the 16 from MCQ,

    which is a high C/ low B.
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    (Original post by Lawlser)
    Hm,

    Now that's a tricky one....

    As long as throughout your Data Response you labelled your diagram in Question 3) as Figure 1 and in your 4th question you said, "as you can see from Figure one in Question 3" then it shouldn't be a problem!

    Personally, I would have drawn it but that only counts as analysis and if the analysis in the rest of your essay is good you should be fine! Honestly, I sat this in Jan just gone, came out of it thinking **** **** **** I done this and that wrong but I actually got 92 UMS, so all I can say is don't fret about it and look towards your next exam!

    Good luck

    P.S. my teacher gave me a PERFECT answer the exam board had distributed from June 2012, and they only had one diagram, hopefully that instills confidence.
    I think I got full 25/25, the 5 marks def, 8 mark comparing date and maybe 6-12 marks on the 12 mark question. No idea about 25 mark question. I got an A already but hoping it hits 90s.

    Possible?
 
 
 
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