OCR F581 Markets in Action - 11 May 2015 Watch

RussMo124
Badges: 2
Rep:
?
#1701
Report 3 years ago
#1701
(Original post by 2014_GCSE)
I also did just supply decreasing and quite a few people did. The answers for this seem to be mixed though? It seems to be ok whatever you did as long as you explained it properly.

Also yeah I did just public good but quite a few people did quasi-public. Similar to the beaches question from a few years ago, you can probably argue either one and get full marks.

And I did a positive externalities diagram, yes.
Nice one, didn't know they were called positive externalities diagram - you mean the one with MPC/MSB exc?...

I was tempted to move demand on the second Q but it made no sense in reference to the case study.

And yeah that's why I thought aswell, overall I thought it was a very nice paper barring the significance of PES.
0
reply
A level sufferer
Badges: 13
Rep:
?
#1702
Report 3 years ago
#1702
Is anyone going to post an unofficial mark scheme?


Posted from TSR Mobile
0
reply
TrentL
Badges: 2
Rep:
?
#1703
Report 3 years ago
#1703
(Original post by RussMo124)
Yo first post on here, registered to talk about these exams and my politics. Few questions:

In the second question, am I alright with just supply decreasing?

Did anyone mention quasi-public good in the public good Q?

And finally did anyone put in a merit-good cost benefit diagram in the essay question? To show where positive externalities came from...
Yes to all
0
reply
Pato1
Badges: 13
Rep:
?
#1704
Report 3 years ago
#1704
You don't have to have a MPB diagram.. it's not even in the Colin Bamford OCR book
0
reply
Rk2k14
Badges: 17
Rep:
?
#1705
Report 3 years ago
#1705
Couldn't you shift Supply (left) or Demand (right) for the 2nd question, and referred back to it?
0
reply
AFG-Gamer
Badges: 1
Rep:
?
#1706
Report 3 years ago
#1706
Trust me! Grade boundaries for this year is going to be low. Cuz all my friends were bear confused about it the questions.
0
reply
RussMo124
Badges: 2
Rep:
?
#1707
Report 3 years ago
#1707
Finally, question 5. That was about the determinants of PED right? I wrote about the necessity of the product and the % proportion of income it takes up... Is that alright?
0
reply
TrentL
Badges: 2
Rep:
?
#1708
Report 3 years ago
#1708
(Original post by Rk2k14)
Couldn't you shift Supply (left) or Demand (right) for the 2nd question, and referred back to it?
We seem to be getting mixed responses from everyone, some say shift supply to the left and some say shift demand to the right. Personally i did a shift to the left of supply. I think the explanation will play a key role marks for this question
0
reply
Pato1
Badges: 13
Rep:
?
#1709
Report 3 years ago
#1709
(Original post by RussMo124)
Finally, question 5. That was about the determinants of PED right? I wrote about the necessity of the product and the % proportion of income it takes up... Is that alright?
I've heard some say determinants of demand and others say determinants of PED... Either way I put time and income
0
reply
c223
Badges: 2
#1710
Report 3 years ago
#1710
(Original post by RussMo124)
Finally, question 5. That was about the determinants of PED right? I wrote about the necessity of the product and the % proportion of income it takes up... Is that alright?
If you explained these two then yes, I don't see why that would be wrong. The question was referring to determinants of PED, contrary to what many people on here are saying.
reply
2014_GCSE
Badges: 3
Rep:
?
#1711
Report 3 years ago
#1711
(Original post by RussMo124)
Nice one, didn't know they were called positive externalities diagram - you mean the one with MPC/MSB exc?...

I was tempted to move demand on the second Q but it made no sense in reference to the case study.

And yeah that's why I thought aswell, overall I thought it was a very nice paper barring the significance of PES.
Yep that's the one! and yeah it was actually the last question I did. completely threw me off.
And yeah it was alright. Not the best, not the worst.
0
reply
TrentL
Badges: 2
Rep:
?
#1712
Report 3 years ago
#1712
(Original post by AFG-Gamer)
Trust me! Grade boundaries for this year is going to be low. Cuz all my friends were bear confused about it the questions.
Maybe, i am not sure if they are going to be very low though. Just because your friends found it hard. Not trying to hate btw.
0
reply
RussMo124
Badges: 2
Rep:
?
#1713
Report 3 years ago
#1713
(Original post by Pato1)
You don't have to have a MPB diagram.. it's not even in the Colin Bamford OCR book
Yeah I know, great way to introduce though.
1) Define Market Failure
2) Define positive externalities and where they come from...
3) Say they are entwined with market failure as they arise from merit goods, which are under consumed --> Draw MPB diagram
4) Explain Diagram
5) Go onto subsidies, draw diagram, positives and negatives...
6) Talk about alternatives. E.G. Info provision, state how positives and negatives for this swell.
7) Conclude
0
reply
c223
Badges: 2
#1714
Report 3 years ago
#1714
(Original post by Rk2k14)
Couldn't you shift Supply (left) or Demand (right) for the 2nd question, and referred back to it?
There are mixed opinions on this. I'm sure I've seen a question in a past paper where either was acceptable though, so I'm hoping that's the case here. I shifted supply left and explained it based on that.
reply
luceds
Badges: 0
Rep:
?
#1715
Report 3 years ago
#1715
for the essay did we have to compare other methods of correcting market failure or just talk about subsidies?
0
reply
KitsonnostiK
Badges: 0
Rep:
?
#1716
Report 3 years ago
#1716
I thought this exam went well until I saw this forum...
0
reply
KhamZ_98
Badges: 2
Rep:
?
#1717
Report 3 years ago
#1717
(Original post by A level sufferer)
Is anyone going to post an unofficial mark scheme?


Posted from TSR Mobile
We were making one but when someone posted the link it all kept on getting deleted. Should have one done by this evening though
0
reply
anndz3007
Badges: 2
Rep:
?
#1718
Report 3 years ago
#1718
it's subsidy, i knew itttt
0
reply
J.M.Keynes
Badges: 2
Rep:
?
#1719
Report 3 years ago
#1719
Did anyone talk about demand for agricultural goods being inelastic and therefore if supply shifts left price will rise significantly
0
reply
TrentL
Badges: 2
Rep:
?
#1720
Report 3 years ago
#1720
(Original post by luceds)
for the essay did we have to compare other methods of correcting market failure or just talk about subsidies?
I don't know how you would get more than 10 marks for talking solely about subsidies, i am sure you would have to mention alternatives with there diagrams and advantages and disadvantages etc
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

University open days

  • Cranfield University
    Cranfield Forensic MSc Programme Open Day Postgraduate
    Thu, 25 Apr '19
  • University of the Arts London
    Open day: MA Footwear and MA Fashion Artefact Postgraduate
    Thu, 25 Apr '19
  • Cardiff Metropolitan University
    Undergraduate Open Day - Llandaff Campus Undergraduate
    Sat, 27 Apr '19

Have you registered to vote?

Yes! (61)
38.13%
No - but I will (5)
3.13%
No - I don't want to (10)
6.25%
No - I can't vote (<18, not in UK, etc) (84)
52.5%

Watched Threads

View All