OCR F581 Markets in Action - 11 May 2015

Generally, you should have a short introduction wich should include definitions of the key terms.

You should then analyse how the statement in the question is true using relevant graph with the best analysis clearly showing how the cause leads to the effect.

Then evuate by saying why the statement in the question MAY NOT be true and why this is the case. Two or three evaluative points here will get you in to the higher marks.

Then conclude on which side of the argument you fall on with reasons why. Also include long term consequences of the decision to get in to the higher marks.

It may be easier to explain the structure if you have a question that you want me to go through.

Here is my answer to the January 2013 18 mark question where I got 18/18 if it's of any use: http://www.thestudentroom.co.uk/album.php?albumid=10936

Hope that's helped in some way.

how do you know ;o

Can someone name some forms of regulations imposed on a producer? (any context or example will be fine)

Can someone name some forms of regulations imposed on a producer? (any context or example will be fine)

No need to bother with advantages, on the one you posted you wrote more than a page of stuff which was just 'seen' and awarded no marks. Definitions, context to question, explain how it could work on a graph, explain why this would solve, disadvantages of policy and a conclusion in that order is ideal. Good answer, though!

Regulation on materials allowed: the government may have decided that some materials were dangerous, and so banned their use. This will likely shift the supply curve to the right, as forms probably used these materials due to their lower price.

Regulation on working times: in an effort to reduce disturbance during rest hours, the government may not allow the firms to work whenever they want, but instead on specific times. The extent to which the supply curve will shift depends on the changes (which can also apply above).

Regulation on information of products displayed: firms may try to hide the negative aspects of their products and focus on the positive. The government may order them to show both dies equally.

And the like...

Posted from TSR Mobile

If anyone needs any help give me a shout. I got 98/100 in this exam (January 2013) and I have uploaded my answers to my profile if that's of any use.

How should like revise for like the possible 18 mark questions topics ? Like tax ,subsidies and regulations and stuff. How did you revise for them ?

Hey Stefan, you know your stuff. Can I ask, why may a regulation impose a vertical supply curve on the market?

Thanks mate

Posted from TSR Mobile

--

Hey,

May I ask how much time to devoted to that essay?

The exam answer I have posted? I was over two years ago but I would guess that it took around 45 minutes.

A completely vertical supply curve means that supply of said good is perfectly inelastic -this means that regardless of how much consumers are willing to pay, supply cannot increase above set threshold.

If a regulation is too specific and strict in its terms (ie only that can be supplied/or only these resources may be used), then a vertical supply curve will be imposed.

Thank you very much! Was in relation to June 13 where the mark scheme said supply was vertical. Though I don't believe in the question there was any reason given that would have made it vertical.

Posted from TSR Mobile