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    (Original post by Pokims1996)
    I'm sure you've done fine, you've seemed to include all the important points. And I used MRP as my major (and only) demand side factor. Using MRP Theory , MRP=W
    Omg than goodness. I mainly talked about mrp too with a little derived demand i think rate(if i can remember correctly) & then my other factors were discrimination and trade union/monopsony power that causes wage differentials . You?

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    (Original post by ItsJustMe17)
    Omg than goodness. I mainly talked about mrp too with a little derived demand i think rate(if i can remember correctly) & then my other factors were discrimination and trade union/monopsony power that causes wage differentials . You?

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    I used trade unions too for a supply side factor. I once again used the elasticity of demand/supply e.g inelastic demand and supply have high wage, elastic demand and supply have low wage, using examples of occupations
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    (Original post by Pokims1996)
    I used trade unions too for a supply side factor. I once again used the elasticity of demand/supply e.g inelastic demand and supply have high wage, elastic demand and supply have low wage, using examples of occupations
    Phew ! You don't understand how much youve made me feel better ! Thought id done it all wrong lol thanks a bunch! Literally was ipod all night worrying (yeah im a big worrier -don't know if tht even a word) lol

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    (Original post by ItsJustMe17)
    Phew ! You don't understand how much youve made me feel better ! Thought id done it all wrong lol thanks a bunch! Literally was ipod all night worrying (yeah im a big worrier -don't know if tht even a word) lol

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    Same! After an exam I'm usually glued to TSR just to make sure other people put similar answers! Good luck!
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    (Original post by Pokims1996)
    Same! After an exam I'm usually glued to TSR just to make sure other people put similar answers! Good luck!
    Hahaha same, its a reassurance! Finally finished my exams! Good luck to you too!
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    (Original post by ItsJustMe17)
    Hahaha same, its a reassurance! Finally finished my exams! Good luck to you too!
    What do you think the grade boundary for an A will be in both this exam and global economy?
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    (Original post by Kuchkuchhotahai)
    I talked about regional pay difference, differentiated tax systems and I can't remember more haha.. Now for the BIG C3, C4 D=
    What do you think the grade boundary for an A will be in both this exam and global economy?
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    What do you guys think the grade boundary for an A will be in both this exam and global economy?
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    (Original post by ItsJustMe17)
    Hahaha same, its a reassurance! Finally finished my exams! Good luck to you too!
    Nice! Did you finish today? I'm not even half way through yet :mad:
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    (Original post by Pokims1996)
    Nice! Did you finish today? I'm not even half way through yet :mad:
    Haha economics was my last . So im free now Omg how many left? Tbh its not tht great when ALL your friends still have exams lol but for now im working a bit to earn extra money- need to fund my summer antics one way or another :P

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    (Original post by ItsJustMe17)
    Haha economics was my last . So im free now Omg how many left? Tbh its not tht great when ALL your friends still have exams lol but for now im working a bit to earn extra money- need to fund my summer antics one way or another :P

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    2 Geography, 2 Maths and 2 Critical Thinking(<--- fml) :')
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    (Original post by Pokims1996)
    2 Geography, 2 Maths and 2 Critical Thinking(<--- fml) :')
    Haha aww it wont be tht bad. Will be over before you know it! Good luck again!

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    (Original post by Pokims1996)
    Discussing how changes in MRP are caused is completely relevant but I just think the question asked a little bit more than that
    Hmm I get you, how about the second part of the question how did you approach that
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    (Original post by Rheannan)
    i put that absolute poverty is very rare in the uk and any poverty is mostly relative as uk is well developed and an medc, unlike other countries eg sudan, somalia, kenya. i also put that relative is a highly debated idea and i actually wrote 'how can you be on the bread line and be able to afford bread' ha!
    You'd be surprised how many people cannot afford the most basic of things in the UK. I discussed the growing existence of food banks in the UK, an indication that there is certainly a degree of absolute poverty.
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    What are the main features of a contestable market?? because i wasnt really sure what one was so i just wrote that they were mostly profit maximizers that want the biggest market share, and all of them are productively efficient, however i evaluated by stating that some just wanted to be allocatively efficient?? i also just stated something about sunk costs but cant really remember what i said..... i also did the typical depends on stuff for evaluation as well. How many marks do you think i will get???
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    (Original post by sunderand9)
    What are the main features of a contestable market?? because i wasnt really sure what one was so i just wrote that they were mostly profit maximizers that want the biggest market share, and all of them are productively efficient, however i evaluated by stating that some just wanted to be allocatively efficient?? i also just stated something about sunk costs but cant really remember what i said..... i also did the typical depends on stuff for evaluation as well. How many marks do you think i will get???
    productive efficiency, allocative efficiency and sunk costs are all features of a contestable market.
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    (Original post by Fas)
    productive efficiency, allocative efficiency and sunk costs are all features of a contestable market.
    What about being profit maximizers??
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    (Original post by Fas)
    productive efficiency, allocative efficiency and sunk costs are all features of a contestable market.
    Not necessarily, a monopoly could be contestable. To avoid hit and run entry they would operate at AR=AC. This is not necessarily allocative or productively efficient. See attachment.
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    (Original post by NottsYellowJnr)
    Not necessarily, a monopoly could be contestable. To avoid hit and run entry they would operate at AR=AC. This is not necessarily allocative or productively efficient. See attachment.
    i dunno about that haha, but i do remember looking at a markscheme for a question "State two characteristics of a contestable market" and productive efficiency and allocative efficiency were two possible answers

    although you're right about the monopoly bit!
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    (Original post by Fas)
    i dunno about that haha, but i do remember looking at a markscheme for a question "State two characteristics of a contestable market" and productive efficiency and allocative efficiency were two possible answers

    although you're right about the monopoly bit!
    Hmm, strange. I have also read in a revision guide that they are productively and allocative efficient, but im not convinced.

    http://www.economicsonline.co.uk/Bus...e_markets.html
 
 
 

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