Thanks to everyone who was in my Whatsapp group, especially those who helped contribute to the google drive.
I also used Anki for some of my economics revision, if you would like my anki notes then please private message me (anki is a flashcard app).
If anyone's interested, my breakdown of marks were:
Unit 1: 93/100
Unit 2: 100/100
Unit 3: 69/80
Unit 4: 115/120
General thoughts: easy-ish paper, personally found 10d very difficult and wouldn't be surprised if I didn't score above 6/16. Stop worrying about 10b since it was a vague question, you could talk about either traditional or specialist ebike firms.
Grade boundaries very similar to last year.
Unofficial markscheme, can't remember exact order sorry.
1. Question about Lloyds tsb, E high market share.
2. Tablet computers, increase barriers to entry. Think the key was B? Not sure which key
3. AR curve of perfect comp. Horizontal straight line, was D I think
4. Shoe firm, monopolistic in long run was option D
5. Motor industry was D 81.2 4cr or something.
6. Sony and Microsoft, was B undercutting. Difficult to explain, should use knockout here.
7. Price discrimination of old people train tickets, was A increase revenue.
8. Network Rail and ORR performance targets was A improve quality.
9 - for the 1% of you who did 9, lol why. Hope you enjoyed writing about Chinese babies and their milk for an hour.
DEFINITELY DOESN'T COVER ALL POSSIBLE ANSWERS this is just what I wrote/heard others wrote.
10a oligopoly/duopoly explain it then quote extract twice and explain again
10b tricky question but if you referred to ebike specialists then profits increase, traditional decrease, though there was a lot of room to evaluate (traditional entering market, cost of batteries may offset profits if they rise etc)
10c standard question. Advertising branding limit pricing predatory pricing etc etc
10d quite difficult and the extract wasn't too helpful either. Barriers to entry, high sunk costs, limit pricing, entrance of traditional, likely to be making supernormal profits so firms from other industries might wanna diversify etc.
Hey guys, I thought I'd start the A2 threads for Edexcel economics (lol the name of the unit was too big to fit in the title )...feel free to discuss exam preparation or post questions that you're stuck with
Remember that it is worth 40% of the A2-level and 20% overall.
Unit 4 thread here: http://www.thestudentroom.co.uk/show....php?t=3154353
Here is the very important specification, linked directly to the knowledge you need for Unit 3!