OCR F581 Markets in Action - 11 May 2015 Watch

CamilleClarke
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#1201
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How are you to structure the 18 marker if you're given two policies e.g whether indirect taxation of regulation is better, do you have to do analysis for both and evaluations for both ? Surely that would be a very long essay...
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mickel_w
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Is what im saying here correct? -

For underprovision of goods that create positive externalities, 2 demand curves, one showing the private benefit, and one ti the right of it showing social benefit

For overprovision of goods that create negative externalities, 2 supply curves, one showing private cost and another showing social cost to the left of the first one

For overprovision of demerit goods, two demand curves , D1 to the left of D

For underprovision of merit goods, the opposite to the above? I.e. D1 is to the right of D.
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keynes24
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(Original post by hannb98)
could someone do a general essay structure for if its on state provision? Not sure how to hit all the levels
State provision is not part of the syllabus. If you still need help post the question and your plan.
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hannb98
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(Original post by CamilleClarke)
How are you to structure the 18 marker if you're given two policies e.g whether indirect taxation of regulation is better, do you have to do analysis for both and evaluations for both ? Surely that would be a very long essay...
doubt they would ask for two directly, more like to say one method and then use the words 'most' etc in the Q..
but yeah you would only need to do one - i would do taxation. then compare to regulation in the L4 comments and reach a conclusion
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hannb98
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(Original post by keynes24)
State provision is not part of the syllabus. If you still need help post the question and your plan.
I know but there has still been questions..
Jan 2010: Discuss whether healthcare in the UK should be provided by the government or the private sector (18 marks)
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keynes24
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(Original post by hannb98)
I know but there has still been questions..
Jan 2010: Discuss whether healthcare in the UK should be provided by the government or the private sector (18 marks)
That's a bit different. I have written a small plan for that question already. It refers to the case for/against government intervention
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mickel_w
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What are some pros and cons of tax? I only have 4 of each...
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hannb98
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(Original post by keynes24)
That's a bit different. I have written a small plan for that question already. It refers to the case for/against government intervention
could you please share this?
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midgemeister7
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(Original post by mickel_w)
What are some pros and cons of tax? I only have 4 of each...
You don't really need pros other than hypothecation and perhaps that it's market based, you only really need cons and 4 is fine
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_Fergo
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(Original post by mickel_w)
What are some pros and cons of tax? I only have 4 of each...
4 of each are more than enough.

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CamilleClarke
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(Original post by hannb98)
doubt they would ask for two directly, more like to say one method and then use the words 'most' etc in the Q..
but yeah you would only need to do one - i would do taxation. then compare to regulation in the L4 comments and reach a conclusion
Thank you !
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hannb98
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(Original post by mickel_w)
What are some pros and cons of tax? I only have 4 of each...
thats more than enough anyway!!!
pros: market based, reduces overconsumption... incentive to improve further (emissions -> unlike regulation), increases gov revenue - can be hypothecated. polluter pays so internalises externalities.

cons: reduces competitiveness -> lobbying/unemployment, what size?-> gov failure, what is social optimum?, opportunity cost, regressive so unfair, depends on PED -> inelastic.... , tax avoidance eg relocation of production or can buy goods overseas (e.g. booze cruises).
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A level sufferer
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(Original post by midgemeister7)
You don't really need pros other than hypothecation and perhaps that it's market based, you only really need cons and 4 is fine
Is Hypothecation AS, I only know it from F584 and havent seen it on any revision material or past papers thus far
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hannb98
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(Original post by A level sufferer)
Is Hypothecation AS, I only know it from F584 and havent seen it on any revision material or past papers thus far
not required but shows a good understanding!
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NooNoo1
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#1215
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is the whole point of government provision to make the social costs=private costs or the social benefits=private benefits??
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omar8888
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Does inelastic supply mean price decreases by more following a subsidy than when supply is elastic? HELPPP
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CamilleClarke
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There is no diagram for public goods is there, because they are an example of a missing market?
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Pato1
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#1218
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okay so can someone tell me which essay topics do NOT need graphs
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midgemeister7
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#1219
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(Original post by Pato1)
okay so can someone tell me which essay topics do NOT need graphs
Ideally they all do
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BigFreakyGinger
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(Original post by omar8888)
Does inelastic supply mean price decreases by more following a subsidy than when supply is elastic? HELPPP
PES is irrelevant when addressing subsidies as subsidies decrease the Costs of Production which causes supply to increase (Shift right) The size of shift will not be different for an inelastic supply curve. The best way to answer that question is if you draw a diagram showing an increase in inelastic supply along the demand curve and then an increase in elastic supply along the demand curve. The equilibrium price/quantity will still be the same, no matter what the price elasticity of supply. It is the Price elasticity of demand that will determine a subsidy's effectiveness.
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