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UNOFFICIAL MARK SCHEME OCR Economics - Markets In Action 2015 Watch

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    On the 18 marker i did everything mentioned all costs, benefits, all definitions graphs limitations e.g. inelastic good… etc.. But my alternative idea, which was providing information for consumers to don't know the real benefit of the merit good which its under consumption causes the externality, that bit was really vague and basic (like maybe 2 lines)… then i concluded ( and also i didn't use the case study )

    you guy think its possible to still get 18/18??
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    (Original post by jmuz)
    On the 18 marker i did everything mentioned all costs, benefits, all definitions graphs limitations e.g. inelastic good… etc.. But my alternative idea, which was providing information for consumers to don't know the real benefit of the merit good which its under consumption causes the externality, that bit was really vague and basic (like maybe 2 lines)… then i concluded ( and also i didn't use the case study )

    you guy think its possible to still get 18/18??
    Depends on the conclusion and whether you actually explained how it solves market failure (allocative efficiency, reduces under-production and the like). If these are achieved to a satisfactory level, then yes -it is possible.

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    To be honest the 18 marker could of been on anything because it was such an open question for example i wrote about subsidy for healthy foods and etc aslong as it directly involves a subsidy and an alternative regulation for the evaluation
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    (Original post by *Stefan*)
    Depends on the explanation you gave. If you said that luxury products are likely to be elastic because people do not absolutely need them and can live without them or so, then you could get the marks.

    Change in tastes and fashion is incorrect I'm afraid, unless you linked it to something like addiction. (This is a determinant of demand, not of PED)



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    Yes that was how I explained the super normal good and I also suggested that this was would the expected case for wine because people don’t need it but want it.In the unofficial mark scheme they stated changes in taste although this was only 4 marks so it is the least of my worries because from the unofficial mark scheme I pretty much did everything they said for Every question
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    (Original post by kingdoo)
    Yes that was how I explained the super normal good and I also suggested that this was would the expected case for wine because people don’t need it but want it.In the unofficial mark scheme they stated changes in taste although this was only 4 marks so it is the least of my worries because from the unofficial mark scheme I pretty much did everything they said for Every question
    Good!!

    "Fashion and tastes" are not determinants of PED, and as such its inclusion in this mark scheme is incorrect (they did add several disclaimers though! Be careful.)

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    for consumer surplus do you need to have q1 and q2 on the quantity axis as I thought they were irrelevant, also do you need to add the supply curves to it
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    (Original post by JacobC1998)
    for consumer surplus do you need to have q1 and q2 on the quantity axis as I thought they were irrelevant, also do you need to add the supply curves to it
    Yes and yes. It said "using a supply and demand diagram", suggesting that a full diagram should be used.

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    (Original post by kingdoo)
    Yes it directly said that there was a decrease in supply and how this would effect consumer surplus.
    I don't think so buddy, in June 2012 mark scheme, it was the same pretty much, and no marks were give for the supply curve shifts.
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    (Original post by *Stefan*)
    Yes and yes. It said "using a supply and demand diagram", suggesting that a full diagram should be used.

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    consumer surplus is showing the price difference and not the quantity though and ok, I bet they allow it without adding supply curves as a load of people wont have done that
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    For the first diagram I put a leftwards shift in supply (for crops such as rice etc) as stated in the unofficial Mark scheme as well as a rightwards shift in demand. In the explanation I stated that there is an increasing population (which is a determinate of demand) and is technically true as the global population is increasing. Will I still get the marks or not?
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    (Original post by JacobC1998)
    consumer surplus is showing the price difference and not the quantity though and ok, I bet they allow it without adding supply curves as a load of people wont have done that
    That is irrelevant though. A S&D diagram, like they asked, ought to be fully written -they may still give you the marks though as benefit of doubt
    Can't say myself obviously!

    (Original post by Zallin98)
    For the first diagram I put a leftwards shift in supply (for crops such as rice etc) as stated in the unofficial Mark scheme as well as a rightwards shift in demand. In the explanation I stated that there is an increasing population (which is a determinate of demand) and is technically true as the global population is increasing. Will I still get the marks or not?
    You didn't have to refer to the case directly - you had to write the diagram and then explain how the price changes. If you did both, then yes, you could get full marks.


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    Looking back it's probably the easiest essay in f581 history
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    (Original post by Pato1)
    Looking back it's probably the easiest essay in f581 history
    They had to offset the 6 markers, which were the exact opposite apparently :P

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    (Original post by *Stefan*)
    They had to offset the 6 markers, which were the exact opposite apparently :P

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    I thought that the 6 markers were good
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    I reckon I got 51/60 if I take off 4 marks for forgetting to put in supply curves for consumer surplus.
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    God I've done so awefully it's actually hilarious lol
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    (Original post by JacobC1998)
    I thought that the 6 markers were good
    Alas! Someone has said it -after the outcry, I didn't expect anyone to actually say this :P

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    (Original post by *Stefan*)
    Alas! Someone has said it -after the outcry, I didn't expect anyone to actually say this :P

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    There was so much that you could write for the allocative efficiency one and the public good one was so easy as it is just common sense
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    (Original post by JacobC1998)
    There was so much that you could write for the allocative efficiency one and the public good one was so easy as it is just common sense
    Still, the fact that such questions have never been asked in a "comment" style made them difficult for many people.

    What did you write?

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    Hi, for the 18 mark question I did not give any examples. This is level 2 if I misses this will my marks be capped at that level or can i proceed to level 3 and 4 as they were really good. And what else counts as level 2 I had diagrams of subsidies does this count?
 
 
 
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