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F581/ F582 Economics June 2013 Watch

  • View Poll Results: How hard did we find this exam ?
    so hard i felt like crying through the exam
    13
    12.50%
    very difficult , but one or two were alright
    13
    12.50%
    fairly standard
    33
    31.73%
    quite easy , with one or two hard ones
    35
    33.65%
    so easy i felt like dancing throughout the exam
    10
    9.62%

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    Okay guys, any predictions?
    Which surplus is likely to come up? (producer/consumer)
    Allocative efficiency?
    Which elasticity?
    Predictions on the 18marker?
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    To clarify - are these appropriate comments for the elasticities questions :

    - they are only estimates
    - inaccuracies may have been used in the production of these figures
    - these figures tend to change over time

    any others ?
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    (Original post by lucybrown92)
    Okay guys, any predictions?
    Which surplus is likely to come up? (producer/consumer)
    Allocative efficiency?
    Which elasticity?
    Predictions on the 18marker?
    if asked to draw an allocative efficiency diagram , you'd just do a demand and supply diagram with an equilibrium point showing demand and supply are equal right ?
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    (Original post by mandem2k11)
    From what i gather

    You have to EVALUATE the strenghts and weaknesses of the proposed market failure. In yoru conclusion also, try to suggest a potentially better policy and EVALUATE why it would be better but also the potential drawbacks of it

    i think
    you don't need to do that in your conclusion , a substantial part of your essay can be the discussion of an alternative in comparison the one mentioned in the question.
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    Any ideas for the essay guys?
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    (Original post by Fas)
    you don't need to do that in your conclusion , a substantial part of your essay can be the discussion of an alternative in comparison the one mentioned in the question.
    I was talknig about the conclusion. Apparently to go from 16 to 18 you need to evaluate your conclusiojn too

    (Original post by Fas)
    To clarify - are these appropriate comments for the elasticities questions :

    - they are only estimates
    - inaccuracies may have been used in the production of these figures
    - these figures tend to change over time

    any others ?
    Clarify that they are not reliable due to this. Other external factors such could have affected the elasticites too
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    (Original post by mandem2k11)
    I was talknig about the conclusion. Apparently to go from 16 to 18 you need to evaluate your conclusiojn too



    Clarify that they are not reliable due to this. Other external factors such could have affected the elasticites too
    Yup it's called extended evaluation, when I did this in January I got 2 EE's in my conclusion because I reached a judgement on why something may be limited but how it may be more effective. I got 18/18 btw, you just need to evaluate quite a bit, I got 2 L4's and 2 EE's and that got me 18/18
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    How do we evaluate a comment question when we are told to use a diagram?????
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    (Original post by M.I.A)
    How do we evaluate a comment question when we are told to use a diagram?????
    -Depends on the size of the shifts
    - Depends on the PES/PED
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    (Original post by mandem2k11)
    -Depends on the size of the shifts
    - Depends on the PES/PED
    Thanks!
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    HM specialization hasn't came up in a long time.
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    and information failure
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    I have a feeling there will be a question on 'the business relevance of elasticity estimates'.
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    (Original post by iggyDash)
    HM specialization hasn't came up in a long time.
    What is HM?
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    (Original post by Silverback94)
    What's wrong with saying it depends on other currencies? Surely if the countries main trading partners exchange rates increase in line with the country's exchange rate then net exports won't decrease. Or am I completely misunderstood?
    Yeah you're probably right, I'm just doubting myself. I do this a lot haha
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    (Original post by M.I.A)
    I have a feeling there will be a question on 'the business relevance of elasticity estimates'.
    They always come up!! What would you write if that question came up about XED?


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    (Original post by tom_elsey)
    They always come up!! What would you write if that question came up about XED?


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    Good for competitive markets (substitutes) where price increases can lead to losing a lage market share, price cuts can lead to steal market share from rivals

    Helps them know how to react/anticipate to chance in price in complements/subsistutes
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    i reckon,, PES, Producer surplus, regulation essay aaaaaaaaand Factors of production?
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    (Original post by M.I.A)
    What is HM?
    I meant hmmmmm lol
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    This is probably a stupid question but surely when demand goes up and, as a result, price goes up there will be an increase in supply which means the price will go back down?
 
 
 
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