OFFICIAL OCR ECONOMICS F581 13th MAY 2014 THREAD**

Original post by EdwardsEconomics

Dear Knowing, can I confirm if the question said pollution or production? There seems to be a difference in what I have heard here. Regardless the difference would be largely cosmetic. I have to dash off to teach the last lesson of the day but will return to answer you in full later.

Regards,

Mr. E

I'm sure it was pollution. The essay was production.

Thanks a lot!

Reply 321

jj225

5

any idea as to what the rough grade boundaries should be?

Reply 322

esmail777

Original post by EdwardsEconomics

Thank you for the questions, I am not allowed to have a copy of the script until tomorrow. I will also have a mark scheme next weekend when us examiners meet and the marking starts next week. I'll put up an electronic copy for those interested in due course. Feel free to PM me a reminder if you would like.

If anyone would like me to give my thoughts on the optimal answer for any fell free to ask, I'm not free to do a run down just yet of all of them. Maybe later however. Also will be unable to do the calculations or any bit that requires the data response as obviously I am not in possession of one until tomorrow.

Regards,

Mr. E

for disadvantages of specialisation i put in that since output will increase so will negative externalities and this will cause the chinese govt to put a tax which will lead to increased costs will that be right?

Reply 323

GGKeams

1

Yes, I found 6a about China difficult too, as did everyone else who came out of the exam. Can anyone else remember what they put for it?

Reply 324

ItsJustMe17

14

Original post by Al C

There are four determinants of demand. Price, Fashion, Income and Price of other goods e.g substitutes. I think therefore you could talk about any except fashion.

Oh i always learnt it as PIRATE. So price , income, relatable goods, advertising, tastes and fashion , and expectations.

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Reply 325

ItsJustMe17

14

Original post by elizabet1309

The same happened to me ! I did only a shift in supply. Does anybody remember what exactly was said in the case study ??

Yeah there was an increase in demand also because of advertising

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Reply 326

ItsJustMe17

14

Original post by Knowing

Advertisement is the same thing as taste and preferences. As for confidence, that would be valid but hard to get full marks for.

I went for change in incomes, and price of other goods

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I was always taught that advertisement and tastes were.two different things. Factors of demand are PIRATE: Price, income, relatable goods, advertising , tastes and fashion, expectations. Im sure when i did past papers as well that they were treated separately also.

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Reply 327

Knowing

1

Original post by ItsJustMe17

I was always taught that advertisement and tastes were.two different things. Factors of demand are PIRATE: Price, income, relatable goods, advertising , tastes and fashion, expectations. Im sure when i did past papers as well that they were treated separately also.

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We were taught that advertising affects tastes and preferences, and so comes under the same category.

There are only 4 determinants of demand that shift demand:

Price of other goods, Income, Tastes&Preferences, Expectations/Confidence.

Reply 328

littleman72

Original post by ItsJustMe17

I was always taught that advertisement and tastes were.two different things. Factors of demand are PIRATE: Price, income, relatable goods, advertising , tastes and fashion, expectations. Im sure when i did past papers as well that they were treated separately also.

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We need to ask Mr E I hope you're right 3 marks resting on it... surely they are as advertising causes tastes and fashion.

Reply 329

BlueArmy-CFC

1

for specialisation, i said improvement in quality and it may demotivate staff? would these get marks??

Reply 330

lionelmessi19

3

Original post by BlueArmy-CFC

for specialisation, i said improvement in quality and it may demotivate staff? would these get marks??

Wahay!! I put that too.. For the disadvantage i said it may lead to employees getting bored, so they are likely to leave.. i didn't know how to put it into better words then..

Reply 331

BlueArmy-CFC

1

I said exactly the same thing, staff would get bored of doing the same thing over and over again. I'm not sure i'd get full 2 marks :/

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Reply 332

MrHogwash

6

I wrote that Specialisation speeds up the production process because workers are assigned to a particular task hence improving efficiency. The downside was that workers become demotivated due to repetitive and boring work.

Reply 333

wolalala

Hey, I hope everyone found the exam okay?
anyone have any predictions for F582 18 marker?

Reply 334

BlueArmy-CFC

1

That sounds much better than mine lol

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Reply 335

BlueArmy-CFC

1

How did you guys analyse the price of other goods and income, for income i accidentally said since the product is an inferior good an increase in income would lead to an decrease in demand for these goods and vice versa. How many marks would i get out of 3? 1?

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Reply 336

Jasonpt

3

A lot of people seem to have misread the specialisation questions wrong. It asked you the pros and cons of specialisation for a FIRM.

Reply 337

BlueArmy-CFC

1

So what would the answer have been ?

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Reply 338

MrHogwash

6

I wrote that since YED is inelastic and positive(0.2), a 10% increase in consumers real income would lead to a 2% increase in the demand for that good. This shows that it is a normal good. If YED was negative however, then demand would fall by 2%