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    Anyone think the grade boundaries will be lower this year?
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    (Original post by epic within)
    a) decreased consumption from China and increased supply leads to lower price

    b) was lower revenue for producers could lead to unemployment as producers are trying to cut costs

    depends on PED
    and some other factors

    c) decrease in costs shift S to the right

    d) diagram (4 marks ) definition (1 mark) reduction to producer and consumer surplus (1 mark) higher prices (1 mark) increased in production costs ( 1 mark)

    depends on the magnitude
    extract said that they lose tax revenue because of lower prices, but increasing that will lead to lower demand and and lower revenue
    depends on ped
    may lead to unemployment
    and some other factors

    e) definition (1 mark), diagram showing an increase in supply and price (2 marks), diagram showing reduction in external costs ( 3 marks) efficient firms can raise revenue by selling excess permits, governments receive tax revenue which could be used to reduce external costs

    problems if the price is too high or too low
    government failure because majority of permits are issued for free
    increases costs for firms impact on investment and jobs
    big firms can just buy permits and continue to pollute
    not every country is part of the scheme
    For the buffer stock question I said that there was excess demand. Do you think i'll still get a mark?
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    (Original post by hmmmmm234)
    Anyone think the grade boundaries will be lower this year?
    I doubt it tbh because the only people doing the exam were retakers because there is a new spec for the new AS people so they have a different paper:/
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    (Original post by hmmmmm234)
    For the buffer stock question I said that there was excess demand. Do you think i'll still get a mark?
    you need to say a is wrong because its excess demand not supply
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    I reckon the new grade boundaries will be:

    63/80 for an A (80 UMS)
    56/80 for a B (70 UMS)
    50/80 for a C (60 UMS)
    45/80 for a D (50 UMS)
    40/80 for an E (40 UMS)

    The highest it has been for an A is 61- as most people doing this exam were retakers then expect the grade boundaries to rise slightly.
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    Does anyone know what the 10 marker of question 9 was? also D of 9?
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    divison of labour leads to productivity increasing. An increase in supply. Definitions if productivity and division of labour. Diagram of supply and demand. EV - boredom,jobs require specialist skills...labour may not have these....training adds to cost if production
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    (Original post by A-LevelEconomist)
    I reckon the new grade boundaries will be:

    63/80 for an A (80 UMS)
    56/80 for a B (70 UMS)
    50/80 for a C (60 UMS)
    45/80 for a D (50 UMS)
    40/80 for an E (40 UMS)

    The highest it has been for an A is 61- as most people doing this exam were retakers then expect the grade boundaries to rise slightly.
    What mark do you think you need for 90 and 100 ums?
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    (Original post by Ringles)
    Does anyone know what the 10 marker of question 9 was? also D of 9?
    just apply to that specific industry
    10(c) KAA = 6 marks •Definition or understanding of the division of labour(production of a good or service is broken down intodifferent tasks and labour allocated to each task) (1mark).
    • Application of division of labour to hairdressing: male orfemale cuts / hair stylists / washing hair / cleaning andserving drinks / cashier (1 mark)
    • Explanation of one or more benefits:
    Increase in productivity (efficiency) / reducing costsper unit / leading to higher profits or revenue (1+1+1marks). Diagram showing an increase in the supply curve (1mark) Repetition means workers become more skilled /faster at specific tasks (1 + 1 marks). Less training costs / less staff turnover (1+ 1marks). More effective use of capital / seating and hairmachines (1 + 1 marks). NB if not application to hairdressing award a maximumof 4 marks for KAA Evaluation (2+2 marks) Division of labour is quite limited in hairdressingsalons since often just a one or two person business. Specialisation may limit a hairdressers market e.g.men’s (barbers) or women’s hairdressers. The provision of a personal service also means lessroom for specialisation for a haircut.
    • Limited career opportunities through specialisation.
    • Disadvantages may outweigh advantages, forexample, repetition leads to boredom / reducedproductivity / increased staff turnover.
    Division of labour may make the hairdressingbusiness highly dependent on just one or two individual (10) members of staff – danger of illness or suddenresignation from job could expose the business.
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    On the the last 14 marker for question 9, I made 2 applications points and 2-3 evaluation points. No diagrams, what mark would you expect to me receive?
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    ****.
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    (Original post by IJKninetyeight)
    If people want to know the exact mark scheme for the Buffer stock question and Vaccine Externalities question they both appeared on the Jan 2012 paper - Q7 and Q8


    Buffer Stock:
    ---> • Understanding or explanation of buffer stock scheme(for example: agency sells from buffer stock in times of poor harvest and buys or adds to it in times of good harvest. (1 mark).Note this explanation must consider both the buying and selling function of the buffer stock to secure a mark).• Identification that in 2010 there is a bad harvest / or supply has decreased (1 mark).• Without intervention the price would rise to P3 or point Z (1 mark)• Government agency sells Q3-Q2 or XY of wheat from its stockpile to establish a price of P2 (this may be shown by annotation of the diagram) (1 mark).• Government agency revenue from the sale is Q3Q2XY(this may be shown by annotation of diagram but needs to be labelled or referred to in answer) (1mark).Rejection marks• Option A incorrect since there is a poor harvest that could lead to an excess demand for wheat (1 mark).• Option B incorrect since the agency will sell Q2Q3XY from its stockpile – not buy. (1 mark)Note: do not double award if already credited in the explanation.• Option C incorrect since price would increase to P3 ina free market or to a maximum of P2 under the bufferstock scheme. (1 mark).


    Externalities:
    • Definition of welfare gain (the excess of social benefit over social cost for a given quantity) (1mark).• Identification or annotation of diagram to identify welfare gain as area XZY (accept welfare loss)(1 mark).• Identification of the free market equilibrium as pointX or quantity Qe and the social optimum as point Or quantity Q1 (1 mark).• Definition of external benefits: (positive third party effects / benefits external to an exchange/ benefits the price mechanism ignores / benefits outside the market transaction / difference between social benefits and private benefits / positive spillover effects) (1 mark).• Application to vaccinations: welfare gain or external benefits include a reduction in the spread of diseases since more people vaccinated. (1 mark).Rejection marks• Option A incorrect since the social optimum quantity's Q1 or Y which is greater than the free marketquantity Qe or X. (1 mark)Note: do not double award if already credited in the explanation• Option B incorrect since welfare gain is area XZYNote: do not double award if this area has already been credited in the explanation) (1 mark).• Option D incorrect since marginal social cost (X or Pe) is less than marginal social benefit (Z ) (must state the letters) (1 mark).

    Some dates may be wrong because its in context of 2012.
    When I saw question 7 in the exam I actually checked the front of the paper because I was like 'wait this was in the one I did last night' and then the next question was the same, too. I can't believe they didn't even change the products used.
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    For the buffer-stock question, wasn't the answer option D not Option B.

    If people are saying that the question is exactly the same in the Jan 2012 paper, then it must be Option D, right?
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    (Original post by Econmaster)
    For the buffer-stock question, wasn't the answer option D not Option B.

    If people are saying that the question is exactly the same in the Jan 2012 paper, then it must be Option D, right?
    I can't remember which letter but it was the one where they sold from their stockpile to increase supply and push the price down to p2 (or whatever the max price was)
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    (Original post by SMR1997)
    I can't remember which letter but it was the one where they sold from their stockpile to increase supply and push the price down to p2 (or whatever the max price was)
    I know the whole concept. But Im just worried that I put the incorrect letter but if it is the same as the Jan 2012 paper then I put option D which is correct.

    Check to see if I am right
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    thought the paper was fairly easy.
    strange thing was how the two 14 markers of question 10 were almost exact opposites
    first external benefits
    second external costs
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    (Original post by Econmaster)
    For the buffer-stock question, wasn't the answer option D not Option B.

    If people are saying that the question is exactly the same in the Jan 2012 paper, then it must be Option D, right?
    Hi option D was to buy more wheat and option B was to sell more wheat.
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    (Original post by hmm36472)
    What mark do you think you need for 90 and 100 ums?
    69/80 for 90 UMS
    7480 for 100 UMS
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    How many marks would I get for 9e)

    This is what I included:

    An accurate definition of tradable pollution permits
    1 KAA about using the price mechanism which makes polluters pay
    2 KAA Firms can have excess carbon permits in order to generate revenue
    3 KAA Firms have an incentive in investing into cleaner tehnology

    1 EV EU Commision could issue too many carbon permits leading to a decrease in supply (Diagram Supported)
    2 EV EU Commision could have too little carbon permits circulating meaning a increase in price of carbon permits
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    anyone remember what the questions were to question 10?
 
 
 
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