OCR F581 Markets in Action - 11 May 2015 Watch

Makashima
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#1421
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#1421
No one on chatzy ? I don't know how to feel about this paper. 3 comments wtf ...tonight me and few student shall type an unofficial mark scheme...
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biologyislife
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#1422
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#1422
(Original post by chemistrya*god)
but i haven't finish on time so i didn't do the essay question
same
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22.22
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#1423
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#1423
Just realised I drew producer surplus on the consumer surplus question- I assume i'll get zero marks for that question?
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Brave reader
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#1424
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#1424
(Original post by missti)
really didn't know what to put.. used the information from the case study
There was a question similar to this in previous years. I defined allocative efficiency and gt info from case one that allocative is achieved and the other when the ecosystem is harmed so it has an external cost that are greater then private costs
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midgemeister7
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#1425
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#1425
(Original post by JellyCat99)
Wine was 0.2 right? I put that means wine was more inelastic due to its addictive nature etc and that the rice has lots of cheaper substitutes, hence it was inelastic.....?????


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It was about PES not PED

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casiobose
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#1426
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#1426
In the essay, I talked about how it may produce positive externalises such as long term solution to energy.
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ecof583
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#1427
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#1427
What did people do for the first diagram
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Kojira
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#1428
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#1428
For the graph question at the start about 'significant price changes', was it an increase in demand, or just a shift along the curve?

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midgemeister7
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#1429
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#1429
(Original post by missti)
What did everybody put for the essay question? and what diagram did you draw for the second question... why price may increase?
I put a right shift in demand

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midgemeister7
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#1430
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#1430
(Original post by casiobose)
In the essay, I talked about how it may produce positive externalises such as long term solution to energy.
You want to reduce positive externalities, not increase them

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Kojira
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#1431
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#1431
But the question mentioned demand's price elasticity.

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midgemeister7
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#1432
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#1432
(Original post by Kojira)
But the question mentioned demand's price elasticity.

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No it didn't I'm afraid it was about supply - you mean the 6 marker right?

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Gelion
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#1433
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#1433
I said that as more farmers are switched to biofuel, supply of agricultural products will fall, thus fall in supply, which mean an increase in price
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daldald
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#1434
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#1434
(Original post by Makashima)
No one on chatzy ? I don't know how to feel about this paper. 3 comments wtf ...tonight me and few student shall type an unofficial mark scheme...
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I can help you with the questions if you've forgotten em
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Kojira
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#1435
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#1435
Yes, although it was right after the PES calculations, I wrote about PED determinants since the question mentioned demand.

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JellyCat99
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#1436
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#1436
What did people put for the public good question??


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JellyCat99
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#1437
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#1437
(Original post by Gelion)
I said that as more farmers are switched to biofuel, supply of agricultural products will fall, thus fall in supply, which mean an increase in price
Same!!


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JellyCat99
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#1438
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#1438
(Original post by midgemeister7)
It was about PES not PED

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Urghhh yeah..... I was doing that question the last couple minutes, I just put what came to mind...


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midgemeister7
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#1439
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#1439
(Original post by Kojira)
Yes, although it was right after the PES calculations, I wrote about PED determinants since the question mentioned demand.

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Did it? I can't remember the 6 marker mentioning demand at all

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JamesM96
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#1440
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#1440
Any guesses on grade boundaries?
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