Hey there! Sign in to join this conversationNew here? Join for free
    Offline

    0
    ReputationRep:
    (Original post by TheJoka)
    Hey does anyon have any idea of what might come up?

    Personally i think Buffer stock might come up because it hasnt come up in a long time.

    Not soooooo sure about externalities......

    Any ideas????????????
    Rough estimates???????????
    Stabilisation of wheat prices came up in Jan 2012 - big buffer stock section..


    There's been a trend with each Jan exam of a merit/demerit good so I HOPE TO GOD THAT DE MERIT COMES UP OMFG. Cigarettes would be perfect!
    Offline

    2
    ReputationRep:
    What are the evaluation pts of Min/Max price and subsidies?

    I hope there will be a govt intervention question that I can just use this on -

    Define terms,

    for gov intervention
    Analysis - Buffer stocks - Evaluation - there's usually over supply or under supply and it's ineffective is supplys inelastic - food cant be stored, doesn't prevent initial problem, only effective over long run - time to build stock, admin costs.

    Analysis - Max price - Evaluation - leads to secondary markets that distort the market mechanism.

    Against gov intervention - leave it to the free market (market forces) Adam Smiths invisible hand + Hayek are free market economists and believe that prices have the following functions - Signalling - Incentive - Rationing.

    Overall, there should be gov intervention as high food prices effect the lower income households the most as they spend larger proportion of income on food + inequity is a market failure. Also leaving it to the free market can cause a further market failure as prices don't always signal the right functions.

    What do you think?
    Offline

    14
    ReputationRep:
    (Original post by ErHi?)
    Stabilisation of wheat prices came up in Jan 2012 - big buffer stock section..


    There's been a trend with each Jan exam of a merit/demerit good so I HOPE TO GOD THAT DE MERIT COMES UP OMFG. Cigarettes would be perfect!
    I hope so too XD Its like the question I kick ass in :lol: The others I'm fine with but de merit goods are just so good there's so much to write about.
    De merit + a medium difficulty multiple choice = Happy me
    Offline

    1
    ReputationRep:
    Why do people want demerit goods to come up so much? What would you right about for cigarettes for example?
    Offline

    2
    ReputationRep:
    (Original post by JordanS94)
    I hope so too XD Its like the question I kick ass in :lol: The others I'm fine with but de merit goods are just so good there's so much to write about.
    De merit + a medium difficulty multiple choice = Happy me
    Arrrgh noo I hate demerit/merit essays.

    All I can think of is

    for govt intervening - no market failure as no failure of functions of price.
    possibility of gov failure, tax imposed reduces supply of good and increases price - demerit goods like polluting factories can pay fines to internalise the external cost.
    Tax on cigarettes - indirect -

    Against gov int - Adam smith + hayek say leave to the free market BUT it results in resource miss allocation as socially allowed level not produced as goods are cheaper - functions of price fail - allocation failure.

    Indirect tax passed to consumers - effects lower income more as higher proportion of income spent by lower earners.


    Evaluation ???

    Hellllllllp
    Offline

    0
    ReputationRep:
    (Original post by Maybach)
    What was the questions in JUNE 2012? Arghh I would really like to know
    The 25 markers were based on Health care and steel production or such.
    Offline

    2
    ReputationRep:
    (Original post by ErHi?)
    Stabilisation of wheat prices came up in Jan 2012 - big buffer stock section..


    There's been a trend with each Jan exam of a merit/demerit good so I HOPE TO GOD THAT DE MERIT COMES UP OMFG. Cigarettes would be perfect!
    pls look at the posts ive just put up on this thread, in need of some help
    Offline

    0
    ReputationRep:
    (Original post by Vividness)
    Why do people want demerit goods to come up so much? What would you right about for cigarettes for example?
    I like the questions about the free market solutions
    Offline

    0
    ReputationRep:
    (Original post by Vividness)
    Why do people want demerit goods to come up so much? What would you right about for cigarettes for example?
    Demerit goods are pretty straightforward to talk about.
    Offline

    0
    ReputationRep:
    (Original post by Maybach)
    What was the questions in JUNE 2012? Arghh I would really like to know
    25 markers May 12
    Context 1:
    Using the data and your economic knowledge, evaluate the view that mining activities should be left to market forces with minimum intervention by governments.
    Context 2:
    Using the data and your economic knowledge, evaluate the case for and the case against the NHS charging for its service.
    Offline

    1
    ReputationRep:
    (Original post by Julia95)
    Demerit goods are pretty straightforward to talk about.
    What would you talk about for demerit goods?

    All I can think about is applying a tax
    Offline

    0
    ReputationRep:
    (Original post by harrybobo12)
    Thankyou mr state the obvious
    Sarcasm doesn't work well over the internet.

    So if you've got something to say, grow some balls and say it.

    I was asked a relatively simple question that required a simple response.

    Was I suppose to give degree level answer with a deep analysis and evaluation?

    Prick.
    Offline

    0
    ReputationRep:
    (Original post by Vividness)
    What would you talk about for demerit goods?

    All I can think about is applying a tax
    Well, minimum price could be as well. ^^
    Kind of educating society about bad effects of consumption with the revenue collected by putting a tax.
    Can think of more at the moment.
    Offline

    0
    ReputationRep:
    (Original post by Vividness)
    Why do people want demerit goods to come up so much? What would you right about for cigarettes for example?
    if it's govt intervention it's the most easiest thing ever.

    3 Policies:

    Tax, Minimum Price, Advertisement.

    Evaluation of each is relatively simple.

    I HOPE THEY COME UP
    Offline

    0
    ReputationRep:
    (Original post by Vividness)
    What would you talk about for demerit goods?

    All I can think about is applying a tax
    Minimum Price, Advertisement, Maybe regulating the industry.
    Offline

    0
    ReputationRep:
    (Original post by BobTheBuilder94)
    pls look at the posts ive just put up on this thread, in need of some help
    what exactly do you need help on ?
    Offline

    2
    ReputationRep:
    "Arrrgh noo I hate demerit/merit essays.

    All I can think of is

    for govt intervening - no market failure as no failure of functions of price.
    possibility of gov failure, tax imposed reduces supply of good and increases price - demerit goods like polluting factories can pay fines to internalise the external cost.
    Tax on cigarettes - indirect -

    Against gov int - Adam smith + hayek say leave to the free market BUT it results in resource miss allocation as socially allowed level not produced as goods are cheaper - functions of price fail - allocation failure.

    Indirect tax passed to consumers - effects lower income more as higher proportion of income spent by lower earners.


    Evaluation ???

    Hellllllllp"

    And

    For food prices or something (HOPEFULLY WILL COME UP OTHERWISE IM DOOMED)
    for gov intervention
    Analysis - Buffer stocks - Evaluation - there's usually over supply or under supply and it's ineffective is supplys inelastic - food cant be stored, doesn't prevent initial problem, only effective over long run - time to build stock, admin costs.

    Analysis - Max price - Evaluation - leads to secondary markets that distort the market mechanism.

    Against gov intervention - leave it to the free market (market forces) Adam Smiths invisible hand + Hayek are free market economists and believe that prices have the following functions - Signalling - Incentive - Rationing.

    Overall, there should be gov intervention as high food prices effect the lower income households the most as they spend larger proportion of income on food + inequity is a market failure. Also leaving it to the free market can cause a further market failure as prices don't always signal the right functions.

    What do you think?

    Got my exam at 9 due to a clash so pls reply quickly
    Offline

    2
    ReputationRep:
    (Original post by ErHi?)
    what exactly do you need help on ?
    "Arrrgh noo I hate demerit/merit essays.

    All I can think of is

    for govt intervening - no market failure as no failure of functions of price.
    possibility of gov failure, tax imposed reduces supply of good and increases price - demerit goods like polluting factories can pay fines to internalise the external cost.
    Tax on cigarettes - indirect -

    Against gov int - Adam smith + hayek say leave to the free market BUT it results in resource miss allocation as socially allowed level not produced as goods are cheaper - functions of price fail - allocation failure.

    Indirect tax passed to consumers - effects lower income more as higher proportion of income spent by lower earners.


    Evaluation ???

    Hellllllllp"

    And

    For food prices or something (HOPEFULLY WILL COME UP OTHERWISE IM DOOMED)
    for gov intervention
    Analysis - Buffer stocks - Evaluation - there's usually over supply or under supply and it's ineffective is supplys inelastic - food cant be stored, doesn't prevent initial problem, only effective over long run - time to build stock, admin costs.

    Analysis - Max price - Evaluation - leads to secondary markets that distort the market mechanism.

    Against gov intervention - leave it to the free market (market forces) Adam Smiths invisible hand + Hayek are free market economists and believe that prices have the following functions - Signalling - Incentive - Rationing.

    Overall, there should be gov intervention as high food prices effect the lower income households the most as they spend larger proportion of income on food + inequity is a market failure. Also leaving it to the free market can cause a further market failure as prices don't always signal the right functions.

    What do you think?

    Got my exam at 9 due to a clash so pls reply quickly
    Offline

    0
    ReputationRep:
    I think Buffer Stocks + Minimum / Maximum Pricing will come up tomorrow.

    Usually the free market vs government intervention one comes up, but since it came up in June... hmm.

    I'll revise Buffer stocks + Minimum / Maximum Pricing and might as well do Monopolies too since it hasn't come up for a while just to be sure

    Just got to get higher in these multiple choice!!!
    Offline

    2
    ReputationRep:
    Good luck for tomorrow all of you - hope the paper is decent


    Posted from TSR Mobile
 
 
 
  • 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.

  • Poll
    Did TEF Bronze Award affect your UCAS choices?
  • 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.

  • 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

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.