OCR F581 Markets in Action - 11 May 2015 Watch

2014_GCSE
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#661
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I have just been doing a past paper and I don't understand how this essay question is supposed to be answered: "Discuss whether indirect taxes on petrol and diesel fuel in the UK should be reduced."



I can't think of a strong enough argument of why they should be reduced because petrol/diesel are typically a necessity so price inelastic AND they give off negative externalities so higher price is better for that reason.
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keynes24
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(Original post by Wall Street)
It says here that saying a indirect tax shifts the supply curve left is wrong, and that we should refer to it as shifting supply upwards. Has anyone else also been taught to say it shifts left; also, do you think they will deduct marks for saying it shifts left?
Shifting to the left is correct, it is also indicated in the mark scheme for OCR.
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clara16
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(Original post by Super199)
Need help with an 18 marker.
'Discuss the extent to which a subsidy given to producers might encourage an increase in the consumption of a product such a pu'er tea which generates positive externalities'.
Need help with level 4. What is the depends up on with subsidies? Are there alternative ways for positive externalities?
- who gets the subsidy, inefficient firms may not make best use of it.
- setting the correct level is difficult. Over subsidising leads to a bigger op cost, under subsidising & market failure remains.
- Depends on PED of the good. Little effect on Qd/Qs when inelastic


Information provision although costly would reduce the asymmetric information between producer & consumer.

Unlikely to be relevant here but taxation on the alternative products would promote consumption of this good.


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keynes24
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(Original post by 2014_GCSE)
I have just been doing a past paper and I don't understand how this essay question is supposed to be answered: "Discuss whether indirect taxes on petrol and diesel fuel in the UK should be reduced."



I can't think of a strong enough argument of why they should be reduced because petrol/diesel are typically a necessity so price inelastic AND they give off negative externalities so higher price is better for that reason.
Indirect taxes are regressive by nature, a fall j indirect taxes will cause a fall in income inequality. It could help reduce geographical immobility to some extent since workers will find it easier to move around (especially low income). It helps the car industry since petrol and cars are complements.
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Super199
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#665
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If someone could mark this for me and give me some feedback. Apologies for the handwriting. Thanks
Attached files
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justfly
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#666
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Does anyone have any strong candidate exemplar material of a whole F581 paper I can look at?
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Maths97Student
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#667
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Does anybody have the full list of definitions that we have to know for the F581 exam on Monday?

Thanks


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keynes24
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(Original post by Maths97Student)
Does anybody have the full list of definitions that we have to know for the F581 exam on Monday?

Thanks


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Definitions are at the back of the OCR textbook
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Maths97Student
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Ok thanks, I've taught myself the course so I didn't know if there is any extra ones that we need to know.


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MUTTA
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when would you need to use the externalities graph.????
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Makashima
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(Original post by Super199)
If someone could mark this for me and give me some feedback. Apologies for the handwriting. Thanks

I kinda skimmed read it once, so you mentioned that pu er tea generate positive externalities, application? What are the social benefits then?

I assume in your second diagram you were trying make the supply curve line bold hence theres two lines per curve? Use a ruler :P

ur alternative policy, ensure you compare it with subsidy...idk if u did or not cos hard to read

a bit hard to read oh well...surely someone will give you better feedback than mines XD

nice arguments points though!
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Mrdomo118
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Hi

I am sitting this exam in a few days and was wondering what everyone is predicting to be seen in the paper?

Many Thanks
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Makashima
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(Original post by Mrdomo118)
Hi

I am sitting this exam in a few days and was wondering what everyone is predicting to be seen in the paper?

Many Thanks
Tradeable permit pollution or regulation
Idk

Few days? 2 days :P
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Super199
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(Original post by Makashima)
Tradeable permit pollution or regulation IdkFew days? 2 days :P
Cheers for the previous feedback.

I have an 18 mark question I need help with.

"Discuss whether competitive markers always lead to allocative efficiency".

Care to help me with a structure?
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Mrdomo118
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(Original post by Makashima)
Tradeable permit pollution or regulation
Idk

Few days? 2 days :P
Thanks, yeah the 2 days part I didn't want to include haha. I see how you have reached the judgement of what might come up as I haven't seen many of these Government intervention techniques used in previous papers.
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Makashima
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(Original post by Super199)
Cheers for the previous feedback.

I have an 18 mark question I need help with.

"Discuss whether competitive markers always lead to allocative efficiency".

Care to help me with a structure?
Woah that question? Looks like A2 to mee XD
Or is it an actual AS question?
Lets ask Keynes for heeeeeelp

(Original post by keynes24)
x.
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Makashima
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(Original post by Mrdomo118)
Thanks, yeah the 2 days part I didn't want to include haha. I see how you have reached the judgement of what might come up as I haven't seen many of these Government intervention techniques used in previous papers.
Hbu, what are your predictions?
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keynes24
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(Original post by Super199)
Cheers for the previous feedback.

I have an 18 mark question I need help with.

"Discuss whether competitive markers always lead to allocative efficiency".

Care to help me with a structure?
That's an A2 question
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Mrdomo118
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My predictions are cross price elasticity of demand, regulation and subsidies
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Makashima
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#680
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(Original post by Mrdomo118)
My predictions are cross price elasticity of demand, regulation and subsidies
Ahhh cool, I think for the 6 markers, it will likely be public goods if not information failure considering last year it was negative externalities of the Chinas production...PED appeared last year and YED is very popular so I think maybe PES or XED
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