OCR F581 Markets in Action - 11 May 2015 Watch

keynes24
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#381
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#381
(Original post by justfly)
Do you have access to the may 2014 paper and mark scheme for f581?
Paper has been posted already, I use my phone so can't post it.
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justfly
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#382
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On some of the supply and demand questions, the comment marks are generally size of shift, ped etc - it says on the right hand side of mark scheme that allow 3 marks for 1 developed point - how could you develop 'depends on size of shift' to get three marks?

would it be like a 'it depends on the size of the increase in demand, a larger increase in demand would lead to a greater rise in price and quantity' ?
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_Fergo
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#383
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(Original post by justfly)
On some of the supply and demand questions, the comment marks are generally size of shift, ped etc - it says on the right hand side of mark scheme that allow 3 marks for 1 developed point - how could you develop 'depends on size of shift' to get three marks?

would it be like a 'it depends on the size of the increase in demand, a larger increase in demand would lead to a greater rise in price and quantity' ?
"The extent to which the market equilibrium will be affected very much depends on the extent of the demand curve shift: a large shift will affect the price and quantity demanded noticeably while a very small shift is unlikely to have any noticeable effect on the market".

Do not rely on any of your L4 commentary to yield 3/4 marks. You should add at least 2, preferably 3, more points, which need not be longer than a single sentence (ie, the diagram assumes a static supply curve, which may not apply in reality).

The first comment nay indeed get 3 marks, but you can't be sure.

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justfly
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(Original post by *Stefan*)
"The extent to which the market equilibrium will be affected very much depends on the extent of the demand curve shift: a large shift will affect the price and quantity demanded noticeably while a very small shift is unlikely to have any noticeable effect on the market".

Do not rely on any of your L4 commentary to yield 3/4 marks. You should add at least 2, preferably 3, more points, which need not be longer than a single sentence (ie, the diagram assumes a static supply curve, which may not apply in reality).

The first comment nay indeed get 3 marks, but you can't be sure.

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cheers
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Nchomuzinda
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#385
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Looks like the examiers report is wrong, the question is 5a ii

(Original post by keynes24)
Yed= 0.2 is income inelastic so either the examiners report is wrong or you are looking at the next question which is PED elastic. The alternative policy depends on you and the context.
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studentwiz
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#386
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(Original post by Nchomuzinda)
Looks like the examiers report is wrong, the question is 5a ii
Why haven't they written a report on question 6a) about china negative externalities questions? just skipped to the 18 marker ..
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Nchomuzinda
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(Original post by studentwiz)
Why haven't they written a report on question 6a) about china negative externalities questions? just skipped to the 18 marker ..
I have no idea I found it strange too
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azo
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Do we actually need to know about market and command economies? It's in the textbook, but I swear a question has never been asked on it
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newmss
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(Original post by azo)
Do we actually need to know about market and command economies? It's in the textbook, but I swear a question has never been asked on it
It's in the specification so it is best to learn it. The specification is changing next year so if there were time to ask it, it would be now.
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Rosie213
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(Original post by azo)
Do we actually need to know about market and command economies? It's in the textbook, but I swear a question has never been asked on it
Just thinking the same! Though to be honest it's pretty much common sense, just link to what role the Government has and two example countries. If there was to be a question on it, I doubt it would be a long one, possibly something like: "Comment on the governments role in the provision of healthcare in the extract country" and you'd have to link that to what type of economy it is and how that effects GOV roles? Maybe?
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JYNE
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Hi, with my 18 markers I've noticed I always get stuck at 16 marks. Any tips on getting full marks and reaching the higher bands? Thanks
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azo
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(Original post by Rosie213)
Just thinking the same! Though to be honest it's pretty much common sense, just link to what role the Government has and two example countries. If there was to be a question on it, I doubt it would be a long one, possibly something like: "Comment on the governments role in the provision of healthcare in the extract country" and you'd have to link that to what type of economy it is and how that effects GOV roles? Maybe?
(Original post by newmss)
It's in the specification so it is best to learn it. The specification is changing next year so if there were time to ask it, it would be now.
Yeah it's pretty obvious tbh, I'm just gonna learn it but it shouldn't take too much time. Or even they might relate it to opportunity cost or PPC, with the different prioritisation of consumer and capital goods.
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_Fergo
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(Original post by JYNE)
Hi, with my 18 markers I've noticed I always get stuck at 16 marks. Any tips on getting full marks and reaching the higher bands? Thanks
16 marks mean that your conclusion is not complete. Always make sure that you explicitly state your opinion on the given matter.

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A level sufferer
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#394
I was wondering where on the spec does it talk about knowing the different types of Economy?


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RK1998
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Hi guys, can anyone help me with regulation topic please?
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keynes24
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(Original post by RK1998)
Hi guys, can anyone help me with protectionism/regulation topic?
Protectionism is F582 regulation is F581, if you post in the relevant thread (with a bit more information) I am sure someone will help
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RK1998
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(Original post by keynes24)
Protectionism is F582 regulation is F581, if you post in the relevant thread (with a bit more information) I am sure someone will help
thanks

Anyways, I was wondering to what extent does regulation work and how do you develop it when you mention it as an L4 point?
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Rubyx
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Hi,

I got 84 UMS in this exam if you need any help just message me!
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justfly
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(Original post by Rubyx)
Hi,

I got 84 UMS in this exam if you need any help just message me!
How did you prepare I guess? and tips for elasticity questions?
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Rubyx
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(Original post by justfly)
How did you prepare I guess? and tips for elasticity questions?
for the elasticity questions memories the formulae and remember what each does! practise your 'comment' questions for each type of elasticity and remember your DEPENDS on!
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