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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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    (Original post by lisa96)
    can u put a poll up for this exam as well?
    i was just looking for how to do that just now actually haha

    how do you do it ? i clicked in Thread options and the only one is " Stop watching thread "
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    (Original post by Economist21)
    So income didn't fall due to higher fuel prices? I'm sure it has a knock on effect which will lower consumer income.
    It's OCR - you can't just assume that incomes fell 'due to higher fuel prices.' Can it have a knock on effect which may lower consumer income as oil is used by consumers and producers? Yes. Did it state specifically in the case study that it had a knock on effect and this was the reason demand fell? No.

    I'm not saying that you're wrong, more just curious why the case study wasn't a bit more clear.
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    If anyone wants to compare their information failure question (6 marks) - go see the mark scheme for June 2010 question 5. The question is very similar.
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    (Original post by Kenny Loftun)
    If anyone wants to compare their information failure question (6 marks) - go see the mark scheme for June 2010 question 5. The question is very similar.
    this is probably me being stupid , but hows it identical ?

    edit : oh you mean in terms of increased negative externalities and stuff ?

    FURTHER EDIT : ignore this question.
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    The supply and demand graph question was a pain as I didn't know whether to shift both or just supply as at the beginning of the case study it stated that supply decreased due to an increase in price of fuels, however, further into the case study it did mention that demand for holidays had reduced, which is quite confusing....
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    (Original post by Fas)
    this is probably me being stupid , but hows it identical ?

    edit : oh you mean in terms of increased negative externalities and stuff ?

    FURTHER EDIT : ignore this question.
    Did the information failure question on this paper that we sat include 'comment on?' I don't specifically remember so just curious
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    (Original post by Kenny Loftun)
    Did the information failure question on this paper that we sat include 'comment on?' I don't specifically remember so just curious
    Yes it did.
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    (Original post by Kenny Loftun)
    It's OCR - you can't just assume that incomes fell 'due to higher fuel prices.' Can it have a knock on effect which may lower consumer income as oil is used by consumers and producers? Yes. Did it state specifically in the case study that it had a knock on effect and this was the reason demand fell? No.

    I'm not saying that you're wrong, more just curious why the case study wasn't a bit more clear.
    Then again it's A level? They'll throw in things where you have to think outside the box, so am I curious as to why they didn't specify what effected demand, there was a price factor and a non price factor, case study in opinion was weird.
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    For the record it did say demand fell aswell due to a reduction in consumer incomes.
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    (Original post by mandem2k11)
    [QUOTE
    =Fas;42670390]yeah mentioning positives was an added bonus , but the question mainly revolved around the negative externalities ( why would you use regulations to reduce the positive externalities , doesn't make sense )

    The essay didn't have to link back to the case study did it ?
    I made no reference to case study as the question made none

    I talked bout negative externalities and market failure due to information failure and how regulations solved them. Then the benifits/negatives of using regulations . Then suggest infornation provision as alternative, with the benifits and costs of that and conclided that info prov would we better[/QUOTE]


    Omfg please tell me you're confident you did well. I did this exact structure and was so worried that I didn't get enough options in or that information provision wasn't really a government policy.

    What is your predicted grade/what did you get in past papers?

    Sorry
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    (Original post by JamesMartinez)
    I made no reference to case study as the question made none

    I talked bout negative externalities and market failure due to information failure and how regulations solved them. Then the benifits/negatives of using regulations . Then suggest infornation provision as alternative, with the benifits and costs of that and conclided that info prov would we better

    Omfg please tell me you're confident you did well. I did this exact structure and was so worried that I didn't get enough options in or that information provision wasn't really a government policy.

    What is your predicted grade/what did you get in past papers?

    Sorry [/QUOTE]

    structure is perfect just aslong as you talked about relevant stuff , then your on for atleast 15/18 there depending on how well it was written and whether your conclusion was good or not.
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    (Original post by Economist21)
    Then again it's A level? They'll throw in things where you have to think outside the box, so am I curious as to why they didn't specify what effected demand, there was a price factor and a non price factor, case study in opinion was weird.
    It was pretty ambiguous. Also, just because it is an AS exam doesn't mean they're going to throw in things to make you 'think out the box'. Theres a specific mark scheme the examiner will follow - if you're essay revolutionises quantum physics and doesn't follow the mark scheme, then you probably won't get the marks. Sadly originality in these exams rarely gets awarded.
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    Just a question, would a law that forces firms to warn consumers about the risks of using tanning beds count as regulation?
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    Can someone look at page 41 in the ocr textbook it clearly shows that shifting both supply and demand to the left does not change the price....
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    (Original post by Fas)
    structure is perfect just aslong as you talked about relevant stuff , then your on for atleast 15/18 there depending on how well it was written and whether your conclusion was good or not.
    You could have not mentioned negative externalities if you mentioned demerit goods and be fine, checked with my head of department straight after!
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    (Original post by christanmu)
    You could have not mentioned negative externalities if you mentioned demerit goods and be fine, checked with my head of department straight after!
    haha i ended up mentioning both anyway
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    (Original post by Kenny Loftun)
    It was pretty ambiguous. Also, just because it is an AS exam doesn't mean they're going to throw in things to make you 'think out the box'. Theres a specific mark scheme the examiner will follow - if you're essay revolutionises quantum physics and doesn't follow the mark scheme, then you probably won't get the marks. Sadly originality in these exams rarely gets awarded.
    You're right there, I'd think they would allow a shift in demand to the left? It's hard to say for sure now though because they do want one or the other
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    (Original post by M.I.A)
    Can someone look at page 41 in the ocr textbook it clearly shows that shifting both supply and demand to the left does not change the price....
    If you're referring to the diagram displaying what had happened to QD and QS, I fell for that as well first time around I did not change P, but nowhere did it say that the change was balanced, and so I changed it to one with a higher price as in the case study it told us that price had increased!

    (Original post by Fas)
    haha i ended up mentioning both anyway
    Yeah so did I I think that is probably the best essay I have ever done, except for my lack of any good conclusion cos' I ran out of time gr |:

    Glad it went well for you!
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    [QUOTE=christanmu;42671636]If you're referring to the diagram displaying what had happened to QD and QS, I fell for that as well first time around I did not change P, but nowhere did it say that the change was balanced, and so I changed it to one with a higher price as in the case study it told us that price had increased!



    Yeah so did I I think that is probably the best essay I have ever done, except for my lack of any good conclusion cos' I ran out of time gr |:

    Glad it went well for you![/

    You could surely then say that nowhere did they specify that the change was unbalanced... I am not disagreeing with you but all I am saying that the question was confusing, hence, why there is a debate as to what you had to shift...
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    (Original post by M.I.A)
    Can someone look at page 41 in the ocr textbook it clearly shows that shifting both supply and demand to the left does not change the price....
    Yesss! only change in quantity right ?(decrease)

    got it right the i think
 
 
 
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