OCR F581 Markets in Action - 11 May 2015 Watch

Makashima
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#21
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#21
(Original post by Super199)
Did you get taught about the graphs of these. It isn't in the book and our teacher taught us for some reason. Thank you for this
Hmm for externalities, nope
I dont know how would you show it in a D+S curve
Can you explain how your teacher taught you ^_^

unless maybe s/he linked with demerit or merit goods?
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Super199
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#22
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#22
(Original post by Makashima)
Hmm for externalities, nope
I dont know how would you show it in a D+S curve
Can you explain how your teacher taught you ^_^

unless maybe s/he linked with demerit or merit goods?
I would take a picture if I had my phone with me. It is some complicated **** basically. Can you explain the bit when the government intervenes also the bit about over consumption and overproduction to do with negative externalities.
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Makashima
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#23
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#23
(Original post by Super199)
I would take a picture if I had my phone with me. It is some complicated **** basically. Can you explain the bit when the government intervenes also the bit about over consumption and overproduction to do with negative externalities.
I cant do government intervention right now as it is quite a big topic and I am doing something right now, but I will definitely do it soon

__________

Demerits goods are goods that are over consumed by consumers or over provided by the producers/suppliers when left in a free market and it can be due to information failure.

For example:

Junk food, Mc Donalds.

It is over consumed by people due to information failure, people do not know how unhealthy and dangerous it is (or some may choose to ignore the fact). It causes negative externalities which is where the social cost exceeds over the private cost e.g. a rising obesity population and other diseases.

Once again you can refer to NHS, there is a increase strain on obesity department and the government will have to invest more money to treat more individuals. Where does the money come from? Tax revenue maybe, it could have spent on infrastructure or education, to create a highly skilled labour force which would have benefited the economy. Or maybe youve re-allocated the NHS fund, ie took some funds from the eyes department to put into the obesity department.

You can also say, a unhealthy population means a unhealthy labour force. They will not be efficient maybe because they likely to take days off. To reduces the output of the economy and this is a cost. They could've produced more.

But overall when you answer these question, just say how can it affect badly to the society.
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Coombsy
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#24
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#24
(Original post by gelato72)
How did you get 98/100? What were your revision techniques?
I copied out my own notes from the OCR textbook and did all the past papers. Reading and learning from the mark schemes and examiner reports are the most useful way to revise for me. Also, make sure you know what the command words ask for and the breakdown of the marks for different each question with a different number of marks.
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username1822535
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#25
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#25
(Original post by Makashima)
I cant do government intervention right now as it is quite a big topic and I am doing something right now, but I will definitely do it soon

__________

Demerits goods are goods that are over consumed by consumers or over provided by the producers/suppliers when left in a free market and it can be due to information failure.

For example:

Junk food, Mc Donalds.

It is over consumed by people due to information failure, people do not know how unhealthy and dangerous it is (or some may choose to ignore the fact). It causes negative externalities which is where the social cost exceeds over the private cost e.g. a rising obesity population and other diseases.

Once again you can refer to NHS, there is a increase strain on obesity department and the government will have to invest more money to treat more individuals. Where does the money come from? Tax revenue maybe, it could have spent on infrastructure or education, to create a highly skilled labour force which would have benefited the economy. Or maybe youve re-allocated the NHS fund, ie took some funds from the eyes department to put into the obesity department.

You can also say, a unhealthy population means a unhealthy labour force. They will not be efficient maybe because they likely to take days off. To reduces the output of the economy and this is a cost. They could've produced more.

But overall when you answer these question, just say how can it affect badly to the society.
Wow thanks for that! It really helped! I understand it so much better from you than my teacher :3
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username1822535
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#26
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#26
[QUOTE=Coombsy;54211505]I copied out my own notes from the OCR textbook and did all the past papers. Reading and learning from the mark schemes and examiner reports are the most useful way to revise for me. Also, make sure you know what the command words ask for and the breakdown of the marks for different each question with a different number of marks


Ah thanks! I will take that on board
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Makashima
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#27
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#27
(Original post by gelato72)
wow thanks for that! It really helped! I understand it so much better from you than my teacher :3
u is welcome duh
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Yousf
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#28
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#28
(Original post by Makashima)
I cant do government intervention right now as it is quite a big topic and I am doing something right now, but I will definitely do it soon

__________

Demerits goods are goods that are over consumed by consumers or over provided by the producers/suppliers when left in a free market and it can be due to information failure.

For example:

Junk food, Mc Donalds.

It is over consumed by people due to information failure, people do not know how unhealthy and dangerous it is (or some may choose to ignore the fact). It causes negative externalities which is where the social cost exceeds over the private cost e.g. a rising obesity population and other diseases.

Once again you can refer to NHS, there is a increase strain on obesity department and the government will have to invest more money to treat more individuals. Where does the money come from? Tax revenue maybe, it could have spent on infrastructure or education, to create a highly skilled labour force which would have benefited the economy. Or maybe youve re-allocated the NHS fund, ie took some funds from the eyes department to put into the obesity department.

You can also say, a unhealthy population means a unhealthy labour force. They will not be efficient maybe because they likely to take days off. To reduces the output of the economy and this is a cost. They could've produced more.

But overall when you answer these question, just say how can it affect badly to the society.
Thats useful, thanks!! However what else could you say, you mentioned labour force,nhs,tax revenue, but is their anything else you could add. When your free i would realllllllllllly appreciate it. Thank you so much!
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Coombsy
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#29
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#29
(Original post by Makashima)
Hey, are you doing A2 economics as well?
Hi, I finished the A2 last year.
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Makashima
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#30
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#30
(Original post by Yousf)
Thats useful, thanks!! However what else could you say, you mentioned labour force,nhs,tax revenue, but is their anything else you could add. When your free i would realllllllllllly appreciate it. Thank you so much!
Ummm maybe weekend because that is when I have the most free time thus can type more and in detail I suppose?

Of course there are more to say, as long you can say how it is a cost to the society, sooo can you think of anything else ?

E.g.
-vandalism or littering, social cost e.g. eyesore...it is not a pleasant view for the public
-building an airport, social cost would be noise pollution and traffic congestion etc ...

cant think of anything right now, but as long it is a cost to the society then yeah it will work unless you give some bizarre cost xD
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Makashima
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#31
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#31
(Original post by Coombsy)
Hi, I finished the A2 last year.

How did you revise for your A2, which unit did you do, Labour/Transport??? Thanks
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Coombsy
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#32
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#32
(Original post by Makashima)
How did you revise for your A2, which unit did you do, Labour/Transport??? Thanks
I copied out my own notes from the OCR textbook and did all the past papers. Reading and learning from the mark schemes and examiner reports are the most useful way to revise for me. Also, make sure you know what the command words ask for and the breakdown of the marks for different each question with a different number of marks.

I did Transport.

Hope that helps.
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Yousf
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#33
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#33
(Original post by Makashima)
Ummm maybe weekend because that is when I have the most free time thus can type more and in detail I suppose?

Of course there are more to say, as long you can say how it is a cost to the society, sooo can you think of anything else ?

E.g.
-vandalism or littering, social cost e.g. eyesore...it is not a pleasant view for the public
-building an airport, social cost would be noise pollution and traffic congestion etc ...

cant think of anything right now, but as long it is a cost to the society then yeah it will work unless you give some bizarre cost xD

Thank you so much, respected. I'll wait till the weekend
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Makashima
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#34
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#34
(Original post by Yousf)
Thank you so much, respected. I'll wait till the weekend
Ahhh I was wondering what do you want to go through over the weekend ?

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Sashika
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#35
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#35
Does anyone have any ocr F581 and F582 as level economics notes? if you do pls send me a private message.
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Sashika
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#36
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#36
Does anyone have any ocr F581 and F582 as level economics notes? if you do pls send me a private message.
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_Fergo
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#37
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#37
(Original post by Sashika)
Does anyone have any ocr F581 and F582 as level economics notes? if you do pls send me a private message.
Got both and I'd be happy to help (like others did with me after all). PM your email address and I'll send them over.

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Yousf
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#38
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#38
(Original post by Makashima)
Ahhh I was wondering what do you want to go through over the weekend ?

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on your essay response on junk foods, i was just wondering any other points you could mention regrading that specific topic, like you mentioned nhs strain, unhealthy workforce, so was wondering anything else

Thanks
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JMKeynes
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#39
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#39
(Original post by *Stefan*)
Got both and I'd be happy to help (like others did with me after all). PM your email address and I'll send them over.

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Would it OK if you sent them to me too? I'll PM you my email address if so.
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_Fergo
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#40
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#40
(Original post by JMKeynes)
Would it OK if you sent them to me too? I'll PM you my email address if so.
Yeah... go ahead!
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