OCR F581 Markets in Action - 11 May 2015 Watch

Yousf
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#41
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#41
(Original post by *Stefan*)
Yeah... go ahead!
Hey i was doing a past paper, and i noticed in the past paper it said this,

'An increase in saving may increase funds availablefor investment'

What does this mean?
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Makashima
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#42
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#42
(Original post by Yousf)
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
Hmmm not really, thats all I can think of right now.
Even if they asked you about negative externalities and asked you to apply then just give two well developed examples or 3 to be safe
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Yousf
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#43
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#43
(Original post by Makashima)
Hmmm not really, thats all I can think of right now.
Even if they asked you about negative externalities and asked you to apply then just give two well developed examples or 3 to be safe
#

oh ok, thanks again
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Nchomuzinda
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#44
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Can someone explain how the national defence has non-excludable and non-rivalrous characteristics?


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Makashima
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#45
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#45
(Original post by Nchomuzinda)
Can someone explain how the national defence has non-excludable and non-rivalrous characteristics?


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Which one you referring?

http://en.wikipedia.org/wiki/National_defense

So many types of national defense
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Coombsy
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#46
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#46
(Original post by Nchomuzinda)
Can someone explain how the national defence has non-excludable and non-rivalrous characteristics?


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If there were a question like this in the exam I would first define both terms: non excludable (someone cannot be prevented from consuming the good) and non rivalrous (one persons consumption of the good does not affect another). These are the characteristics of a public good.

Then relate the terms to the good given in the question. For example, everyone in the country that has a national defense cannot be stopped from receiving the benefits of protection/safety etc.; therefore consumption of national defense cannot be stopped; national defense is non excludable.

If one person in the country 'consumes' the benefits of national defense, this doesn't stop you from receiving the same benefits (and same level of benefits) as me. Therefore, one persons consumption of national defense doesn't affect another as it is non rivalry.

Hope that helps; it's been a few years but the concepts should be right...
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username1822535
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#47
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#47
When it comes to comment questions with ped and pes what comments would you write? I mean I would right the simple comments such as data might be out of date, they are only estimates but is that enough?
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Makashima
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#48
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#48
(Original post by gelato72)
When it comes to comment questions with ped and pes what comments would you write? I mean I would right the simple comments such as data might be out of date, they are only estimates but is that enough?
Depends which elasticity?

I've seen mark scheme where the question was about PES
It compared and said that the PES is irrelevant analysis to businesses instead they are more likely to be interested in PED instead

Or like the Goa and Maldives one, where it was about CED. One of the criticism can be, provided if the Goa dont change their price so the calculated CED would be the same ie not affected

The data is only an estimate thus it is not reliable or accurate. (1)
Results change over time (1)
I always use these two if I cant think of anything
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Yousf
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#49
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#49
any predictions of what might come up?
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Makashima
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#50
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#50
(Original post by Yousf)
any predictions of what might come up?
For the essay, cant really predict...some says tradeable permit because it has never been on but other says it wont because you cant write much about it

What about your thoughts?
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username1822535
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#51
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#51
(Original post by Makashima)
For the essay, cant really predict...some says tradeable permit because it has never been on but other says it wont because you cant write much about it

What about your thoughts?
I think the essay will be on tax
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username1822535
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#52
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#52
Also I hope that the theme of the exam will be on crops
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Pato1
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#53
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I reckon the 18 marker will be on

Permits
Info failure
Government failure

something along those lines
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Makashima
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#54
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#54
(Original post by Pato1)
I reckon the 18 marker will be on

Permits
Info failure
Government failure

something along those lines
Hmmm it is always market failure which then you can link it to info failure
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Super199
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#55
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#55
(Original post by Makashima)
.
Hey do you mind helping me with something. It is to do with the determinants of supply and demand. Do you mind listing them for me, as I think there maybe more than the ones in the book. Thank you
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Makashima
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#56
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#56
(Original post by Super199)
Hey do you mind helping me with something. It is to do with the determinants of supply and demand. Do you mind listing them for me, as I think there maybe more than the ones in the book. Thank you

Demand.

Disposal income
Price of complementary goods
Price of substitute goods
Change in taste
Weather
Advertising

Which book do you have nd what have they listed ?
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Yousf
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#57
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#57
does increase in inflation generally increase exchange rate and interest rate right?
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Makashima
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#58
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#58
(Original post by Yousf)
does increase in inflation generally increase exchange rate and interest rate right?
Huh...why say so...?

Maybe the other way round then possibly...


E.g. lower interest rate will discourage people to save due to low rewards but spend instead because it is cheaper on credit. Consumption rises thus AD rises as it is a component of AD. Which then may cause demand pull inflation.
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Yousf
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#59
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#59
(Original post by Makashima)
Huh...why say so...?

Maybe the other way round then possibly...


E.g. lower interest rate will discourage people to save due to low rewards but spend instead because it is cheaper on credit. Consumption rises thus AD rises as it is a component of AD. Which then may cause demand pull inflation.
I mean't in the short term, as if inflation rises to control it interest rates would rise. Also an increase in inflation results in an increase of the exchange rate, in other word less competitive. So generally a rise in inflation will increase interest rates and exchange rates.
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Makashima
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#60
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#60
(Original post by Yousf)
I mean't in the short term, as if inflation rises to control it interest rates would rise. Also an increase in inflation results in an increase of the exchange rate, in other word less competitive. So generally a rise in inflation will increase interest rates and exchange rates.
Ohhh ah yeah

High inflation means an increase in price therefore UK goods become less competitive. Demand for UK exports will fall. Therefore there will be less demand for Pounds. So yah like wat you said
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