AQA Economics Unit 1 Paper (May 2014)

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jverlaan
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#1
Report Thread starter 7 years ago
#1
How did everyone find the paper?
I did context 1 and found it quite tough, wrote mostly about taxing biofuel production in my 25 marker.
MCQs were quite tricky as well, more difficult than other past papers.
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Alludeen1
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#2
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#2
I found the multiple choice quite easy, I did context 2 but I think i lost a mark or two on the definition, and i thought the last question was alright but the sources were terrible.
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jverlaan
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#3
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(Original post by Alludeen1)
I found the multiple choice quite easy, I did context 2 but I think i lost a mark or two on the definition, and i thought the last question was alright but the sources were terrible.



The MCQ was okay, except there were one or two tough ones, but other than that it was doable. I had a look at context 2 but decided against it because I didn't like the look of the 12 marker
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yuvalpesh123
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#4
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#4
I basically argued that government intervention could lead to better allocative efficiency through indirect taxes etc...
However
Signalling and incentive function in the long run more likely to work, depending on tax level could lead to black markets therefore could lead to government failure.

Then it depends on how inelastic price elasticity of demand is for biofuel which determines success of indirect taxes
Also previously biofuel businesses were evading taxes which means tougher taxes would be needed.

Just a rough idea of what I wrote, can't really remember now. Also did 3 diagrams.

Sound good?
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Alludeen1
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#5
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#5
(Original post by jverlaan)
The MCQ was okay, except there were one or two tough ones, but other than that it was doable. I had a look at context 2 but decided against it because I didn't like the look of the 12 marker
I found the last mc the hardest, I knew inelastic demand would be the best answer but that wasn't an option so I put elastic supply because supply's the opposite of demand!
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yuvalpesh123
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#6
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#6
(Original post by Alludeen1)
I found the last mc the hardest, I knew inelastic demand would be the best answer but that wasn't an option so I put elastic supply because supply's the opposite of demand!
elastic supply was correct I think yeah!
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SachinNeedsHelp
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#7
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#7
(Original post by yuvalpesh123)
I basically argued that government intervention could lead to better allocative efficiency through indirect taxes etc...
However
Signalling and incentive function in the long run more likely to work, depending on tax level could lead to black markets therefore could lead to government failure.

Then it depends on how inelastic price elasticity of demand is for biofuel which determines success of indirect taxes
Also previously biofuel businesses were evading taxes which means tougher taxes would be needed.

Just a rough idea of what I wrote, can't really remember now. Also did 3 diagrams.

Sound good?
OMG LOOOL I WROTE THE SAME POINT HERES MY VERSION Question was about risin prices of wheat, due to increase in biofuel production and how it leads to famine and poverty. I,wrote the government should intervene via reducin output indirect taxing on the production of biofuel. I,drew the supply n demand diagram showin output reducin via leftward shift in Supply etc and also,said how their are substitutes for this fuel (petrol from crude oil) so demand in elastic and firms cant pass on the costs to consumers via increase in price otherwise people will go to substitutes. I,also,said that the government need to intervene because if prices of wheat go up, poorer people cant access the good, but if they want to alot of their money will be spent on just wheat arising to market failures - unequal distribution of income and wealth.
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Alludeen1
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#8
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#8
Can anyone else not access the original thread?
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MidnightDream
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#9
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#9
(Original post by Alludeen1)
Can anyone else not access the original thread?
It's been deleted
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therealis10
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#10
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#10
the last 25 marker , why is it elastic supply, isnt it inelastic supply
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therealis10
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#11
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#11
the last multiple choice question*
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yuvalpesh123
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#12
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#12
(Original post by MidnightDream)
It's been deleted
why has the main thread been deleted?

Thought they had blocked my account or something
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MidnightDream
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#13
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#13
(Original post by yuvalpesh123)
why has the main thread been deleted?

Thought they had blocked my account or something
They might have some of the rules had been breached, it's back up now though
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yuvalpesh
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#14
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#14
(Original post by MidnightDream)
They might have some of the rules had been breached, it's back up now though
Could you link it please?
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MidnightDream
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#15
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#15
(Original post by yuvalpesh)
Could you link it please?

http://www.thestudentroom.co.uk/show...1#post47563885

Think that should work
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