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Edexcel Economics: Unit 3 Business Economics and Economic Efficiency (June 2014) EC03

Reply 320

TheHenri

1

omg... made so stupid MCQ mistakes :frown:

((

Reply 321

TRR

What answers did you get for the multiple choice?

Reply 322

VinceVC

Did anyone else get B for that management MCQ? Think it was only one which was unusual but I thought it must be profit satisficing as goals other than profit in short run

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Reply 323

TheHenri

1

I stupidly put forward vertical integration, because i thought they were merging with milk seller, but my friends all put differently they put backward.

I also did PPF wrong, ticked that private has more experience, but after exam I knew this was totally stupid, it had to be A but I read A wrongly.

Guess the data response was alright, should be 4/4 8/8 and 16/16 but I found the 12 marker kind of hard. How did you draw your diagram? I did an upward shift of AC so AC>AR forcing firm to leave. But I couldnt understand that part in the extract somehow. So I hope this gives marks. So I put higher costs annually 500,000$ as well as lack in demand. evaluating those was not easy as well. oh dear.

Reply 324

TheHenri

1

Original post by VinceVC

Did anyone else get B for that management MCQ? Think it was only one which was unusual but I thought it must be profit satisficing as goals other than profit in short run

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Yes I put profit satisficing, the others were not making sense

Reply 325

TRR

Original post by TheHenri

I stupidly put forward vertical integration, because i thought they were merging with milk seller, but my friends all put differently they put backward.

I also did PPF wrong, ticked that private has more experience, but after exam I knew this was totally stupid, it had to be A but I read A wrongly.

Guess the data response was alright, should be 4/4 8/8 and 16/16 but I found the 12 marker kind of hard. How did you draw your diagram? I did an upward shift of AC so AC>AR forcing firm to leave. But I couldnt understand that part in the extract somehow. So I hope this gives marks. So I put higher costs annually 500,000$ as well as lack in demand. evaluating those was not easy as well. oh dear.

For the data response i did the same and also put another diagram of ar and mr shifting in as it said in the text the gum industry in the us was shrinking so therefore demand falling

Reply 326

Boy_wonder_95

15

What data response did everyone do out of interest?

Reply 327

TheHenri

1

Original post by Boy_wonder_95

What data response did everyone do out of interest?

9. I think 9 was much easier to get high marks, Price differentiation is not my thing tbh.

Reply 328

TheHenri

1

Did you guys also all get forward vertical? I thought it was a milk supplier merging with milk seller so forward:/ but everyone had backward.

Reply 329

BossKay

4

Hi everyone. I found the multiple choice alright think i hit all the marks on the multiple choice. Just to confirm a few ones. Did everyone get A (no immediate increase in govt. Borrowing) for the PFI question and did everyone get B (profit satisficing) for the football managers question. And just to confirm question A was BACKWARDS VERTICAL INTERGRATION right.

Reply 330

Boy_wonder_95

15

Original post by TheHenri

9. I think 9 was much easier to get high marks, Price differentiation is not my thing tbh.

I did question 10... the majority of people from my school did 9 aswell saying it was easier :s-smilie:

Reply 331

TheHenri

1

Can you actually get 3/4 with wrong Answer if your explanation is really good?

Reply 332

VinceVC

Original post by TheHenri

Can you actually get 3/4 with wrong Answer if your explanation is really good?

Max mark is capped at 2 if incorrect answer

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Reply 333

Mike_123

18

Original post by Boy_wonder_95

I did question 10... the majority of people from my school did 9 aswell saying it was easier :s-smilie:

You'll be fine! Onwards and upwards!

Reply 334

VinceVC

I did 10 also thought it had more scope for easier marks

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Reply 335

Fullycorporate

Yeah, A for last question and B (profit satisficing) for that other question. What points did you make for the profit satisficing question?

Reply 336

Fullycorporate

Original post by VinceVC

I did 10 also thought it had more scope for easier marks

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Yeah I did 10. Did you draw a price discrimination diagram? Also did you say internet consumers had a more inelastic demand?

What strategies did you choose for increased profit? I did predatory pricing, collusion and improving service

Reply 337

Razina17

2

Original post by TRR

For the data response i did the same and also put another diagram of ar and mr shifting in as it said in the text the gum industry in the us was shrinking so therefore demand falling