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    (Original post by BBeyond)
    I thought that was a pretty awful question, way too much non-economics stuff to discuss, which doesn't really get you many marks
    Yeah I hate talking about poverty because I feel like it's a generic point, the only thing you can talk about is like externalities and such.
    Also did a buffer stock scheme q which was a pain because you had to talk about one policy and evaluate it, which I guess was easy evaluation but still an annoying question.
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    (Original post by Nicole_Streakyy)
    Thankss, really helpful
    Already found it helped me a lot in multiple choice questions
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    I'm so scared
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    Anyone else excited for this? I can't wait.
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    (Original post by Exceptional)
    Anyone else excited for this? I can't wait.
    So long as I get my merit/demerit/positive/negative externality question.
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    The question is normally something topical. I have a feeling a question about plain cigarette packaging as the best way to reduce output in that industry may be a good bet.


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    (Original post by lewissteele)
    The question is normally something topical. I have a feeling a question about plain cigarette packaging as the best way to reduce output in that industry may be a good bet.


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    What would you talk about
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    Hi, Does anyone know how to deal with the excess supply that is generated by minimum pricing on demerit goods (i.e. alcohol)?
    As in:



    Do firms export the excess supply? or do firms distribute it via black market? or do I just say that they deserve it because they were profiting from selling demerit goods?

    Thanks
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    (Original post by TommyBrecon)
    Hi, Does anyone know how to deal with the excess supply that is generated by minimum pricing on demerit goods (i.e. alcohol)?
    As in:

    Price
    l
    l D /S
    Pmin l_____\__ /______
    l \ /
    P0 l \/
    l /\
    l / \
    l______________________ QdQs
    Q0

    Do firms export the excess supply? or do firms distribute it via black market? or do I just say that they deserve it because they were profiting from selling demerit goods?

    Thanks
    The government normally has to buy up the excess supply when they set a minimum price law (known as intervention buying), then they dispose of it, which is a a waste of scarce resources and inefficient.
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    (Original post by BBeyond)
    The government normally has to buy up the excess supply when they set a minimum price law (known as intervention buying), then they dispose of it, which is a a waste of scarce resources and inefficient.
    Ah, that makes sense, thanks
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    (Original post by krippleman1)
    What would you talk about
    Basically draw on cigs being a demerit good.

    Intro define demerit good talk about consumers not understand the negative externalities in terms of health care in later life

    P1 Argue for plain packaging draw the negative consumption diag. Evaluate by saying its not really effective anyway due to the elasticities of cigarettes

    P2 Say an alternative eg increase tax and evaluate that eg opp cost and govt failure

    P3 draw on another point from extract
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    How would you write a 25 marker on ake thing about negative externality eg pollution. Like can someone just plan it out for me please
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    (Original post by Turbo1)
    My guesses are:

    Housing Market
    Milk Market
    Fracking
    Healthcare
    Cigarettes
    What would you say about the housing markets? The only thing I can think of is maximum prices

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    Thank you!

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    how up-to-date is this? e.g. are the figures still relevant?
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    (Original post by Turbo1)
    The webinar was the other day - so very up to date
    oh sick cheers for this then
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    Do you reckon that monopolies will come up as a question 4?
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    Can someone help me with this question? The answer is D but I don't understand how?
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    (Original post by ridirahman)


    Can someone help me with this question? The answer is D but I don't understand how?
    Wait isn't the answer B?
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    (Original post by examstress10)
    Do you reckon that monopolies will come up as a question 4?
    According to my teacher it's the 2nd most likely, after housing market so very likely!
 
 
 
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