Turn on thread page Beta
 You are Here: Home

# [AQA] - Economics Unit 1 January 15th - [2013] watch

1. Who benefits more in a subsidy if demand is inelastic consumers or producers?
2. I think consumers because the price decreases a lot more than if it were elastic?
3. (Original post by wrestlingfan55)
I think consumers because the price decreases a lot more than if it were elastic?

Thanks
4. What techniques should you use for the 8 mark, 12 mark and 25 mark questions?
5. (Original post by ineedtorevise127)
Thanks
That was just a guess by the way. I'm not completely sure, I'm just imagining it. But it sounds right.
6. aw man. im scared.

for the 5 mark definition, do you define and give example or just define is enough?
7. (Original post by JessicaGarlai)
aw man. im scared.

for the 5 mark definition, do you define and give example or just define is enough?
Just define, though if you think your definition is not clear enough, throw in an explanation or example and even a formula.

But one clear sentence should get you the 5 marks.
8. (Original post by Rishi_Sood11)
Hi
New to SR,
has anybody got any tips on how to improve and get top marks on the Economics unit 1 multiple choice?
Just keep practising, you'll start to see the art of answering certain questions - E.G questions with specialisation involved always has the answer to be something with exchange or division of labour.
9. Hi, I'm new to SR, my exam is tommorrow and i wanted to ask a question

How would you structure a part Dquestion? [25 marks]

Thanks
10. (Original post by AzadRiaz96)
Hi, I'm new to SR, my exam is tommorrow and i wanted to ask a question

How would you structure a part Dquestion? [25 marks]

Thanks
Hi,

I just posted this in another thread about the exam tomorrow and the 25 mark essay question:

A "perfect" essay structure varies from question to question, but the impression I have got from markschemes and from my teachers is that it goes something like this:

INTRODUCTION - Define all relevant terms to the problem you are discussing. Explain the problem you are discussing.

PARA 1 - Talk about what is suggested by the question - if there is anything suggested by it. If the question is along the lines of "Evaluate the view that government should use a minimum price control to tackle issues arising from high consumption of alcohol", then start by explaining (briefly) what a minimum price control is, and then evaluate its usefulness to the situation. Remember to draw relevant diagrams to illustrate your points.

PARA 2
PARA 3
(PARA 4 - Doing four is probably optional and down to how much time you have) - all of these paragraphs should be devoted to considering alternative economic policies that a government could use, such as taxation or more informal policies like age limits or advertising. Remember to keep drawing relevant diagrams, there's no such thing as having too many.

IMPORTANT: Evaluate each policy in a balanced manner; conclude each paragraph with something like "Policy X may be considered effective because Y, however a government may wish to be cautious when implementing policy X, because Z"

CONCLUSION - The conclusion is one of the most important parts of the essay, because it is where you are judged on your ability to understand how economic policies work on the whole. You need to demonstrate the same balanced judgement that you did in the evaluation at the end of each middle paragraph. I have found that ending my conclusion with something like "A government is likely to implement policy X in the short term, as it is more privately beneficial; but should a government wish the economy to achieve efficient allocation of resources, they may have to consider introducing policy Y in the short term, which would help move demand for alcohol to the socially optimal level of output and consumption" usually gets very good marks. As long as you stay balanced in your conclusion and demonstrate a sound ability to pull it all together, you should do okay.

Good luck.
11. Does anyone know where I can get the June 2012 Paper? I can't find it anywhere
12. The January 2012 paper has a question about evaluating price stabilisation schemes. As far as I know, they only one of them is buffer stocks, unless minimum and maximum prices count as an example of it... In which case I think I'd be alright!

This was posted from The Student Room's iPhone/iPad App
13. (Original post by JordanS94)
Does anyone know where I can get the June 2012 Paper? I can't find it anywhere
there u go
Attached Images
14. AQA-ECON1-QP-Jun12.pdf (426.3 KB, 1335 views)
15. AQA-ECON1-W-MS-JUN+12.pdf (156.0 KB, 2724 views)
16. (Original post by ineedtorevise127)
there u go
Thank you XD
17. (Original post by ineedtorevise127)
Who benefits more in a subsidy if demand is inelastic consumers or producers?
The consumers will benefit more, because the firm will pass on the subsidy to consumers, which won't effect demand because it's inelastic.

So consumers are getting lower prices, whilst the producer will be getting the same revenue with the subsidy, as they would without it.

This is assuming that whole subsidy is passed on to the consumer.
18. (Original post by FindBeautyInNegativeSpace)
The consumers will benefit more, because the firm will pass on the subsidy to consumers, which won't effect demand because it's inelastic.

So consumers are getting lower prices, whilst the producer will be getting the same revenue with the subsidy, as they would without it.

This is assuming that whole subsidy is passed on to the consumer.
What about if demand is more elastic will the benefits be passed on to the producers?
19. Doing this tomorrow, the last of my Jan exams! Supposedly timing is tight but I quite enjoy it really
20. (Original post by ineedtorevise127)
What about if demand is more elastic will the benefits be passed on to the producers?
They'll both benefit from it because the producer will pass the subsidy on to the consumer, as demand is responsive to price, therefore by passing on the subsidy consumers get lower prices, whilst the producer receives more revenue.

You might want to know taxes as well.

When demand is inelastic, all the tax will be passed on to the consumer so it doesn't affect the producer at all, and consumers will lose out.

When demand is elastic, taxes will be absorbed by the firm because demand is responsive to price, so firms will lose out.
21. What was the questions in JUNE 2012? Arghh I would really like to know
22. (Original post by FindBeautyInNegativeSpace)
They'll both benefit from it because the producer will pass the subsidy on to the consumer, as demand is responsive to price, therefore by passing on the subsidy consumers get lower prices, whilst the producer receives more revenue.

You might want to know taxes as well.

When demand is inelastic, all the tax will be passed on to the consumer so it doesn't affect the producer at all, and consumers will lose out.

When demand is elastic, taxes will be absorbed by the firm because demand is responsive to price, so firms will lose out.
Thankyou mr state the obvious

Turn on thread page Beta
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

This forum is supported by:
Updated: May 12, 2014
Today on TSR

### Which business legend are you?

We have the answer...

### University open days

• University of Bradford
Wed, 21 Nov '18
• Buckinghamshire New University
Wed, 21 Nov '18
• Heriot-Watt University
Wed, 21 Nov '18
Poll
Useful resources

## Make your revision easier

Can you help? Study help unanswered threadsStudy Help rules and posting guidelines

## Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE