OCR F581 Markets in Action - 11 May 2015 Watch

justfly
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#881
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#881
(Original post by keynes24)
it would be pretty hard since it is not part of the syllabus
Hey keynes any advice on how you would go about achieving up to L3 on tradable permits? I feel like I can do L4 much easier but struggle to achieve up to L3.
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Makashima
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#882
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#882
(Original post by justfly)
Hey I can't edit it, are you sure its open to the public and editable for everyone else?
still cant edit=

https://docs.google.com/document/d/1...it?usp=sharing

i changed it
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anndz3007
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#883
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(Original post by Super199)
That's sort of the analysis part. You get some marks for saying it is an estimate and that... I am not full sure on what those are
inaccurate/unreliable data
and based on the case study, you can say i'm surprise because i would expect the 2 products to be more elastic/inelastic (for example there was a paper about therapeutic and traditional gum, the XED is inelastic, you say you are surprised because you expect them to be elastic since they are both chewing gum)
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keynes24
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#884
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(Original post by justfly)
Hey keynes any advice on how you would go about achieving up to L3 on tradable permits? I feel like I can do L4 much easier but struggle to achieve up to L3.
it has been explained before a few pages bacl
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Pato1
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(Original post by keynes24)
it would be pretty hard since it is not part of the syllabus
It came up as an essay in 2011 I think
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Slenderman
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#886
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(Original post by Slenderman)
Can someone help with the following questions, they're based of past papers. From 2009-2010.

5. Explain why the price of petrol and diesel may not reflect the true costs of their use.

5. (b) Explain why negative externalities arising from an increase in air transport are an example of market failure.

5. Comment on why there is likely to be information failure amongst consumers of processed red meat products.

As you can see I am not a fan of these questions, i find the them harder than the 18 marker lol.

Anyways can someone help me, thanks.
^^^^^^^
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Slenderman
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#887
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(Original post by Pato1)
It came up as an essay in 2011 I think
Jan 10
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keynes24
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#888
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#888
(Original post by Pato1)
It came up as an essay in 2011 I think
privatisation? never
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Makashima
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#889
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#889
Dang, a lot of people editing the docs...Wow that is productively efficient

Anyway thanks
SHouldve done it earlier lol
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keynes24
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#890
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(Original post by Pato1)
It came up as an essay in 2011 I think
Discuss whether health care in the UK should be provided by the government or the private sector.
That was different from privatisation. Reasons why the government should intervene (merit goods, imperfect information, income inequality) Reasons why the government shouldn't intervene (government failure, free market may be more efficiency...)
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Pato1
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#891
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#891
..
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BigFreakyGinger
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#892
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#892
I have a question. Why does the quantity traded only increase by a little bit after a subsidy, causing an increase in supply, on a merit good with inelastic PED. Surely if the good is addictive, has a lot of brand loyalty, is only a small proportion of people's income etc then the quantity traded would increase a lot after a subsidy on an inelastic merit good???? Sorry perhaps my question is not clear...
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anorris13
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#893
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Anyone have a concise model for how to answer the "comment on these elasticity estimated for businesses" questions?
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Pato1
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#894
Elasticity Question

It is only an estimate, so may not be accurate and can’t be relied on for future decisions.
Depends upon other factors changing.
Depends upon the time period, e.g. PES more elastic in the long run.
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Super199
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#895
(Original post by keynes24)
Discuss whether health care in the UK should be provided by the government or the private sector.
That was different from privatisation. Reasons why the government should intervene (merit goods, imperfect information, income inequality) Reasons why the government shouldn't intervene (government failure, free market may be more efficiency...)
Just wondering with a tradeable pollution diagram does the supply curve shift to the left or not?
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hyjacked
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#896
(Original post by BigFreakyGinger)
I have a question. Why does the quantity traded only increase by a little bit after a subsidy, causing an increase in supply, on a merit good with inelastic PED. Surely if the good is addictive, has a lot of brand loyalty, is only a small proportion of people's income etc then the quantity traded would increase a lot after a subsidy on an inelastic merit good???? Sorry perhaps my question is not clear...
I think it is because if it is addictive and a small % of income then the price doesn't really come into the equation when people buy it. So they already but the amount that they would ever want.
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luk3miller
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#897
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Sorry if it's been posted before, but does anybody have a link to the F581 January 2014 question paper?
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BigFreakyGinger
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#898
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#898
(Original post by anorris13)
Anyone have a concise model for how to answer the "comment on these elasticity estimated for businesses" questions?
PED comments:
-Calculate (Inelastic/elastic)
-Refer to business significance (INelastic ped you INcrease price to INcrease revenue)
However, evaluate the values: (OREOS)
Outdated?
Reliability?
Estimates?
Other factors? (e.g data may have been collected during a recession= lower incomes= larger proportion of income)
Suspected? (i.e a positive PED value would be unsuspected as the demand curve always has a negative gradient)
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A level sufferer
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#899
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Could someone tell me if this pollutionName:  Tradable Pollution Permit.jpg
Views: 93
Size:  227.5 KB permit diagram is wrong
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azo
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#900
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#900
Can someone please tell me the diagram for merit/demerit goods? Is it just pos/neg externality arising from consumption diagrams?
Thanks
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