OCR F581 Markets in Action - 11 May 2015 Watch

jmuz
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#1981
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#1981
(Original post by 2014_GCSE)
Sorry to re-post but need an answer as worrying...

I wrote the entire essay fine but instead of the subsidy decreasing the Under-Production I talked about how it shifted supply which decreased the Under-Consumption.

Any issues with this??? D:
first of all your choice of wording 'decreased the under consumption' is a bit odd. secondly a subsidy works to increase production and consumption, as price decreases due to subsidy, supply shifts to right, increase supply, lower price = increase demand.

so if thats what your saying you said then it should be fine.
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_Fergo
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#1982
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#1982
(Original post by jmuz)
first of all your choice of wording 'decreased the under consumption' is a bit odd. secondly a subsidy works to increase production and consumption, as price decreases due to subsidy, supply shifts to right, increase supply, lower price = increase demand.

so if thats what your saying you said then it should be fine.
"Decrease of underconsumption" is correct though.

Though the effect of a subside on demand is definitely something I'd advise (like you said, consumer surplus increase, and the fall in price may encourage increased demand), it is not necessary to include it, as the question inherently focuses on the supply side of things.

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erfanullah
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#1983
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#1983
By the way what do you guys think the 18 marker for the macroeconomic exam will be ???
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humar
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#1984
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#1984
(Original post by *Stefan*)
The EE marks vary depending on the mark scheme. It used to be enough to say "this is the most effective policy" to get 2 marks, but they made it stricter that past few years. If you explained it well, you could still get both or at least one of the marks.

I didn't exactly follow the "pros and cons" structure as it is superficial for me. I explained, using a diagram, the effectiveness of subsidies and then how they actually solve the market failure (the last part is considered as part of the advantages for some though).

Two very well explained points is enough to get you the marks. People usually write 3 or more because they're not actually sure what "very well explained" is.

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For the public good question I argued that it is not non rivalry and excludable - because of a lack of space for leisure activities as mentioned in the case study- and then I put however in the short term it would be a public good- depends on how much land is used- but in the long run will become a quasi public good.
Does seem okay? I ran out of time for this question
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kieranfitchett
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#1985
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#1985
(Original post by erfanullah)
By the way what do you guys think the 18 marker for the macroeconomic exam will be ???
shouldn't be a difficult one as last year's was an absolute shocker
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_Fergo
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#1986
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#1986
(Original post by humar)
For the public good question I argued that it is not non rivalry and excludable - because of a lack of space for leisure activities as mentioned in the case study- and then I put however in the short term it would be a public good- depends on how much land is used- but in the long run will become a quasi public good.
Does seem okay? I ran out of time for this question
I did the opposite. First stated that such places are usually public goods, but explained that they can also be private or quasi-public goods as well. Then added the commentary on how the type of good changes in specific cases.

I believe both ways can be correct, seeing as public goods are more so opinion than facts.

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c223
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#1987
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#1987
(Original post by *Stefan*)
The EE marks vary depending on the mark scheme. It used to be enough to say "this is the most effective policy" to get 2 marks, but they made it stricter that past few years. If you explained it well, you could still get both or at least one of the marks.

I didn't exactly follow the "pros and cons" structure as it is superficial for me. I explained, using a diagram, the effectiveness of subsidies and then how they actually solve the market failure (the last part is considered as part of the advantages for some though).

Two very well explained points is enough to get you the marks. People usually write 3 or more because they're not actually sure what "very well explained" is.

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Has to be said - many people, myself included, write three or more very well explained points. Just because we write more, doesn't mean we don't explain ourselves well enough
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username1304194
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#1988
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#1988
(Original post by chloe-jessica)
Has to be said - many people, myself included, write three or more very well explained points. Just because we write more, doesn't mean we don't explain ourselves well enough
He means 2 well explained points will get you the same marks as 3 well explained points
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_Fergo
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#1989
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#1989
(Original post by chloe-jessica)
Has to be said - many people, myself included, write three or more very well explained points. Just because we write more, doesn't mean we don't explain ourselves well enough
You misread my comment - many people think they don't explain themselves correctly or that the examiner won't think they explain correctly. Their explanations can be perfect. It's just the fear.
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RK1998
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#1990
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#1990
For the 18 marks I think I did good analysis by explaining both diagrams..
I didn't really apply the case study, and I briefly mentioned L4 such as time lag , opportunity cost and firms absorbing subsidies and didn't explain it at all. And in the conclusion I only wrote that it would be effective in the short term without giving alternatives (sigh)

So my max would be only L3? Around 9?

I don't know guys, what's my worst and best scenario for these 18 marks?


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humar
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#1991
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#1991
(Original post by *Stefan*)
I did the opposite. First stated that such places are usually public goods, but explained that they can also be private or quasi-public goods as well. Then added the commentary on how the type of good changes in specific cases.

I believe both ways can be correct, seeing as public goods are more so opinion than facts.

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For the PES comment question- whilst also putting the figures are inelastic-below 1- I also put that demand is increasing and supply is inelastic- for farmer/suppliers to maximise profit they would have to make supply more elastic to benefit from more revenue- does that seem okay?
whilst also putting the common problem of them being estimates, usually based on consumer surveys etc
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casiobose
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#1992
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#1992
If I didn't do supply shifts for the consumer surplus question, but everything else was right, how many marks do you reckon out of 4?
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kisaxhiro
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#1993
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#1993
I just remembered I used the additional pages at the end of the answer booklet to continue writing the 18 marks. but i completely forgot to put the question number in the margin because it was just the next page.

Do you think they won't mark it ? because I saw it said you must write the question number....
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c223
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#1994
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#1994
(Original post by *Stefan*)
You misread my comment - many people think they don't explain themselves correctly or that the examiner won't think they explain correctly. Their explanations can be perfect. It's just the fear.
If you meant it in this way then fair enough, it's just myself and various friends felt as if your comments read like they were somewhat derogatory towards people who included more points as you believed they didn't truly understand what they were saying. I'm sure two would be sufficient, though I've always found it's difficult to explain fully with two points.
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_Fergo
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#1995
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#1995
(Original post by humar)
For the PES comment question- whilst also putting the figures are inelastic-below 1- I also put that demand is increasing and supply is inelastic- for farmer/suppliers to maximise profit they would have to make supply more elastic to benefit from more revenue- does that seem okay?
whilst also putting the common problem of them being estimates, usually based on consumer surveys etc
Not sure about the stuff after them being inelastic. Demand doesn't fit here to be honest. What I did was say they were inelastic, explain what this means and give a numerical interpretation.

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_Fergo
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#1996
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#1996
(Original post by chloe-jessica)
If you meant it in this way then fair enough, it's just myself and various friends felt as if your comments read like they were somewhat derogatory towards people who included more points as you believed they didn't truly understand what they were saying. I'm sure two would be sufficient, though I've always found it's difficult to explain fully with two points.
Don't take this personally. It's just how it works -check out the mark schemes.

I also included three well explained points, even though I knew two were enough. Why? I don't know. I had the time so I just did it.

Truth is, however, that upon reaching two well explained points, the rest are marked as "seen" and are not graded.

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keynes24
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#1997
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#1997
(Original post by chloe-jessica)
If you meant it in this way then fair enough, it's just myself and various friends felt as if your comments read like they were somewhat derogatory towards people who included more points as you believed they didn't truly understand what they were saying. I'm sure two would be sufficient, though I've always found it's difficult to explain fully with two points.
I tend to encourage 3 well explained evaluations, some students write more than others but that is usually due to having better time management. As long as the evaluations are well explained then that's all well.
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keynes24
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#1998
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#1998
(Original post by casiobose)
If I didn't do supply shifts for the consumer surplus question, but everything else was right, how many marks do you reckon out of 4?
Without a supply curve and the question mentions a shift in supply it wouldn't get any marks in my view but that's me speculating.
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keynes24
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#1999
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#1999
(Original post by kisaxhiro)
I just remembered I used the additional pages at the end of the answer booklet to continue writing the 18 marks. but i completely forgot to put the question number in the margin because it was just the next page.

Do you think they won't mark it ? because I saw it said you must write the question number....
It will be marked. When marking we need to go over every page.
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Super199
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#2000
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#2000
(Original post by keynes24)
It will be marked. When marking we need to go over every page.
Do you think this paper was harder/easier than previous years?
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