Hey there! Sign in to join this conversationNew here? Join for free
    Offline

    0
    ReputationRep:
    When it said it leads to an increase in demand, it was due to the supply curve shifting to the right, and the price falling. You don't need to shift the demand curve at all...
    Offline

    0
    ReputationRep:
    (Original post by carl_b)
    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
    Wow that must be tough,, good luck,, not that yu'll need it =)
    Offline

    0
    ReputationRep:
    oh crapp i think i messed my essay up..i just evaluated the pros and cons of regulation,,and i showed the diagram for it showing...did u havee to mention other alternative policies?
    Offline

    0
    ReputationRep:
    (Original post by posh.totty)
    Wow that must be tough,, good luck,, not that yu'll need it =)
    And you
    Offline

    6
    ReputationRep:
    (Original post by Rishz)
    I moved the demand curve on that other question about the hotels...I am ...disappointed
    Thought about that for ages, moved the demand curve aat first, then 10 minutes to the end i changed it and moved the supply curve hope you got a good grade though
    Offline

    0
    ReputationRep:
    (Original post by kingshan16)
    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.
    I think your definition of a market is right tbh I got taught it was a place where buyers and seller come together to exchange goods or services so thats what i put x
    Offline

    0
    ReputationRep:
    (Original post by ugg)
    in my ocr economics book by the man who rights this exam says "therefore tradable permits is a regulation"
    It doesn't say that all.

    I have the book right in front of me. Colin Bamford: "Tradeable permits are a market-based means of correcting failure"..perhaps you got confused when later he said "therefore, tradeable permits combine the benefits of a market solution with those of regulation".

    It is ambiguous but I wouldn't say tradeable permits are outright regulatory. Only partially.
    Offline

    0
    ReputationRep:
    For the explain what a market is I put a market is a place where buyers and sellers meet and gave an example as Ebay. For the is a beach a public good question I forgot what non rivalry was so put how no one was exluded so it is a public good (I put the 2 characteristics of a public good down btw) will I get any marks for this? And did anyone write about opportunuty cost anywhere? I didnt
    • PS Helper
    Offline

    2
    PS Helper
    (Original post by Ysobella)
    For the explain what a market is I put a market is a place where buyers and sellers meet and gave an example as Ebay. For the is a beach a public good question I forgot what non rivalry was so put how no one was exluded so it is a public good (I put the 2 characteristics of a public good down btw) will I get any marks for this? And did anyone write about opportunuty cost anywhere? I didnt
    I spoke about opportunity cost regarding the first question, when applying it to the family. Honestly I didnt really know what to write for the second part of that question!
    Offline

    0
    ReputationRep:
    For the market definition I put, A place where buyers and selllers come together to trade at a mutually benefitial price. Also, the last question I said regulation wouldn't completely eradicate market failure so would have to be used in conjunction with pollution permits and taxes ? :/
    Offline

    0
    ReputationRep:
    The essay question was roughly:
    Discuss whether regulation is the most effective solution to market failure, SUCH AS those arising from carbon emissions.

    Because it said such as, you could probably get full marks without even talking about pollution at all.
    Also, I'm not 100% sure but I reckon it would have been perfectly acceptable to talk about pollution permits since, in essence, they are just regulation restricting how much firms can pollute.

    In a past paper there was a similar question along the lines of 'Discuss whether taxation is the most effective solution to market failure'.
    The mark scheme stated that to get full marks you needed to evaluate the advantages and disadvantages of tax, and then also mention and compare the effectiveness of other solutions such as regulation. If you only mentioned tax, you could still get up to 16 marks out of 18 for analysing how it would work and its advantages and disadvantages.

    So to get full marks in our essay, I'd imagine you'd need to have discussed the advantages and disadvantages of regulation (not necessarily with respect to pollution) and then compare this at the end to other solutions such as taxation to decide which is the most effective.
    Offline

    1
    ReputationRep:
    [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
    I pretty much mentioned everything in the last question; except, I didn't draw a diagram. I was contemplating drawing a negative externality diagram to demonstrate the effect of a pollution permit but I just felt it was unecessary, so I simply explained it in words. Plus, I was running out of time and needed to evaluate my conclusion. Is the diagram crucial for a level 3 or even a 4?
    Offline

    0
    ReputationRep:
    For my essay question I drew a diagram showing the correction of negative externalities and then analysed the pros/cons of government regulation like setting limits on how much CO2 a company is allowed to emmit etc (but not specifically pollution permits)... is that right? all my friends talked loads about pollution permits and drew a pollution permits graph
    Offline

    0
    ReputationRep:
    Isn't it also true that you cannot draw a diagram for regulation? Because ideally the supply curve will be removed? I really don't think a diagram for regulation is required, if anything it is quite risky because regulation aims to effectively remove the market failure completely.

    Did anyone actually draw a diagram for regulation?
    Offline

    0
    ReputationRep:
    I drew a negative externality diagram for the last question and gave taxation and info provision for my alternatives then mentioned pollution permits in my conclusion.
    Offline

    0
    ReputationRep:
    Hey guys, hope u had a decent exam.

    Er abt the last question....

    I wrote 4 sides of A4!!! Starting with negetive externality diagrams for -ve of production then -ve of consimption.... then regulation diagram + explained reg wid pros cons, then tax pros and cons( in cons included incident of taxation) conclusion use both together to counter drawbacks of each seperatley...
    problem is didnt mention permits didn't remember it during the exam mentioned regualtory bodies and legal action in reg! Also, I think I will lose marks b/c qiestion was in context wasn't it? or are CO2 emissions a very wide parameter to worry abt this?

    Btw, market is interaction of buyer and seller where buyer votes with his purchasing power of money and seller sets price by including his factors of production + profit in the cost! (this is wot i wrote not qouting any textbook!!!)
    Offline

    0
    ReputationRep:
    Hi, guys. just wanting to know if any of their teachers attended the OCR "get ahead" official training course? Because our head of economics did. the importance of this? we'll whilst listening to colin bamfords talk, in which he specifically said that cross price elasticity of demand would definitely NOT be in the papers for the next four sessions, including this wednesday passed, and said not to revise that particular elasticity. so with this being the official course, with a talk from the head of economics in the ocr *or a very similar title, you may recognise his name from the front of a textbook!*you would think it oujld be reliable. Our college's head of department quieried this statement about xped definitely not being on the exam paper this time, and mr bamford reiterated that it definitely 100% certain would not be on the paper.

    so after months of being told it would not be on the paper and we did not need to revise it, what came up as a nice 8 mark question but xped..

    there has been outrage at our college *Greenhead College, Huddersfield* and the economics pupils have been assured that the college will not let this pass by. apparently there were around 20-25 other college's representatives at this official meeting.

    Would like to know if anyone else knows of this or has been affected by it. i know gc students certainly have
    Offline

    0
    ReputationRep:
    (Original post by In.Between)
    It doesn't say that all.

    I have the book right in front of me. Colin Bamford: "Tradeable permits are a market-based means of correcting failure"..perhaps you got confused when later he said "therefore, tradeable permits combine the benefits of a market solution with those of regulation".

    It is ambiguous but I wouldn't say tradeable permits are outright regulatory. Only partially.
    thats the very man i was referring to in my last comment a few minutes ago.. colin bamford that is
    Offline

    0
    ReputationRep:
    (Original post by Si Hartley)
    Hi, guys. just wanting to know if any of their teachers attended the OCR "get ahead" official training course? Because our head of economics did. the importance of this? we'll whilst listening to colin bamfords talk, in which he specifically said that cross price elasticity of demand would definitely NOT be in the papers for the next four sessions, including this wednesday passed, and said not to revise that particular elasticity. so with this being the official course, with a talk from the head of economics in the ocr *or a very similar title, you may recognise his name from the front of a textbook!*you would think it oujld be reliable. Our college's head of department quieried this statement about xped definitely not being on the exam paper this time, and mr bamford reiterated that it definitely 100% certain would not be on the paper.

    so after months of being told it would not be on the paper and we did not need to revise it, what came up as a nice 8 mark question but xped..

    there has been outrage at our college *Greenhead College, Huddersfield* and the economics pupils have been assured that the college will not let this pass by. apparently there were around 20-25 other college's representatives at this official meeting.

    Would like to know if anyone else knows of this or has been affected by it. i know gc students certainly have
    This happened for us as well in my college, my teacher advised us not to study cross elasticity of demand because it would not come up, which it did. I think that complaining to the examiner would be a legitimate response.
    Offline

    0
    ReputationRep:
    Sounds like your guys lecturers arent soo good. I dont think complaining will do anything. i was really worried after the exam, but having spoke too my lecturer he said i should be on for an A he said hell by me a drink if i get one to any one who moved the demand curve, will would say thats catastrophic failure and your a "thick head"... but i wouldnt worry, the exam syllabus is small so revising for a retake shouldnt be too difficult.
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Brussels sprouts
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.