Join TSR now and get all your revision questions answeredSign up now

UNOFFICIAL MARK SCHEME OCR Economics - Markets In Action 2015 Watch

    Offline

    2
    ReputationRep:
    (Original post by Makashima)
    Think it might be useful to tell you what I did for the essay as everyone has different answers.
    I refer to the case study is an example failure due to a decreasing supply of agricultural products and specified rice and wheats hence it is not allocative efficiency and a market failure due to underproduction

    The as usual, I use subsidy and blah blah blah

    Other people may have done biofuels but I am not sure :P
    i said almost the same but i missed out the words merit and demerit goods in my essay -facepalm..., instead mentioned underproduction of rice and overproduction biofuel. I can't get over this, 2 words have capped me -.-.
    Offline

    2
    ReputationRep:
    For the allocatively efficient question, could you have gone either way and still got 6 marks or do you have to address both sides
    Offline

    2
    ReputationRep:
    Also, did you have to refer to the case study for question 2
    Offline

    3
    ReputationRep:
    (Original post by orangutanswag)
    For the allocatively efficient question, could you have gone either way and still got 6 marks or do you have to address both sides
    It was a comment on question so you would have had to do both and then would have come to some sort of judgement or depends on points.
    Offline

    2
    ReputationRep:
    Can you do 2 shifts for the first graph question?
    Offline

    0
    ReputationRep:
    Anyone got an unofficial markscheme for f582?
    Online

    3
    ReputationRep:
    this is a really raw markscheme and not 100%
    Attached Images
  1. File Type: pdf F582.pdf (164.2 KB, 393 views)
    Offline

    1
    ReputationRep:
    Can u guys make one for IAL ECONOMICS UNIT 2..............
    Offline

    0
    ReputationRep:
    For question 2 demand supply question, what I did was increasing both demand and supply with the demand increasing to a greater extent. Will I get any mark? So concerned.
    Offline

    2
    ReputationRep:
    For the 18marker was it neccessary to refer to merit and demerit goods? :confused::confused:
    Offline

    3
    ReputationRep:
    (Original post by Yousf)
    For the 18marker was it neccessary to refer to merit and demerit goods? :confused::confused:
    Yes. Subsidies are used to improve under consumption of merit goods.
    Offline

    2
    ReputationRep:
    (Original post by kingdoo)
    Yes. Subsidies are used to improve under consumption of merit goods.
    A subsidy doesn't always have to refer to merit goods and demerit goods?, a subsidy can be overproduction leading to negative externalities, causing market failure. Im pretty sure.

    I talked in general a subsidy is given to encourage production of a good which leads to an increase in quantity demanded, solving underconsumption issues. However i didnt relate it to the case study, because i didnt see how biofuels where merit goods/demerit goods, so i said overprodcution of biofuels=negative externalities.
    Offline

    2
    ReputationRep:
    (Original post by Yousf)
    A subsidy doesn't always have to refer to merit goods and demerit goods?, a subsidy can be overproduction leading to negative externalities, causing market failure. Im pretty sure.

    I talked in general a subsidy is given to encourage production of a good which leads to an increase in quantity demanded, solving underconsumption issues. However i didnt relate it to the case study, because i didnt see how biofuels where merit goods/demerit goods, so i said overprodcution of biofuels=negative externalities.
    You didnt have to relate to the case study, it was a general question.

    As an evaluative point I said it depends on the type of market failure, do you think I will be credited?
    Offline

    3
    ReputationRep:
    (Original post by Yousf)
    A subsidy doesn't always have to refer to merit goods and demerit goods?, a subsidy can be overproduction leading to negative externalities, causing market failure. Im pretty sure.

    I talked in general a subsidy is given to encourage production of a good which leads to an increase in quantity demanded, solving underconsumption issues. However i didnt relate it to the case study, because i didnt see how biofuels where merit goods/demerit goods, so i said overprodcution of biofuels=negative externalities.
    I guess but in terms of the question which was discuss whether subsidies to producers always correct market failure it would have been the effects on merit goods.

    It would not be correcting market failure if it was given to producers who provide demerit goods.

    It seems to me that those are depends upon points rather than the analysis of why it would in theory correct market.

    As for the case I feel it was a bit harsh because it didn't really talk about the benefits of biofuels. Although it should really be known that they are more renewable resources than fossil fuels and cause much less pollution in the form of CO2.

    However, this was probably why it was a generic question to give candidates the ability to refer to any merit good. I in fact talked about the under consumption of both public transport and biofuels.

    Although if you did mention the benefits of on a relevant merit good then you should be fine because you using under production/consumption of these goods is correct and is still level 3 analysis.
    Offline

    3
    ReputationRep:
    (Original post by orangutanswag)
    You didnt have to relate to the case study, it was a general question.

    As an evaluative point I said it depends on the type of market failure, do you think I will be credited?
    Yes you are correct however you would have still needed to relate it to some sort of merit good of your choice.
    Offline

    2
    ReputationRep:
    (Original post by kingdoo)
    Yes you are correct however you would have still needed to relate it to some sort of merit good of your choice.
    Yeah I just said subsidies help solve the market failure arising from the underconsumption and production of merit goods
    Offline

    1
    ReputationRep:
    Hi,

    i know the exam was nearly two weeks ago but i need help because for the 18 marker i did not mention any example but i did mention a example of a subsidy which was the EU agriculture subsidy and what it does so might this mean i get capped at L2. I believe i explained all my other points in enough detail
    Offline

    3
    ReputationRep:
    (Original post by whovian_2297)
    Hi,

    i know the exam was nearly two weeks ago but i need help because for the 18 marker i did not mention any example but i did mention a example of a subsidy which was the EU agriculture subsidy and what it does so might this mean i get capped at L2. I believe i explained all my other points in enough detail
    you don't need to do L2 to reach L3. L3 band 1 lower prices (P1 to P2), higher Quantity (Q1 to Q2) + diagram + reference to cost of production
    L3 band 2 similar to summer 2014
    Offline

    3
    ReputationRep:
    hi everyone does anyone think its possible to do AS and A2 Economics all in one year, Am starting to revise for AS this summer so that by September am done, Do you think its possible? because I took 3 subjects for AS and i want to replace my Maths for economics.
    Offline

    2
    ReputationRep:
    (Original post by kingdoo)
    I guess but in terms of the question which was discuss whether subsidies to producers always correct market failure it would have been the effects on merit goods.

    It would not be correcting market failure if it was given to producers who provide demerit goods.

    It seems to me that those are depends upon points rather than the analysis of why it would in theory correct market.

    As for the case I feel it was a bit harsh because it didn't really talk about the benefits of biofuels. Although it should really be known that they are more renewable resources than fossil fuels and cause much less pollution in the form of CO2.

    However, this was probably why it was a generic question to give candidates the ability to refer to any merit good. I in fact talked about the under consumption of both public transport and biofuels.

    Although if you did mention the benefits of on a relevant merit good then you should be fine because you using under production/consumption of these goods is correct and is still level 3 analysis.
    I did say biofuels provide energy, reduce pollution and stop farmers going out of work. However the word 'always' gave me a hint there more to it. So i said that the biofuels reduce land fertility not sustainable etc... :l
 
 
 
Poll
How are you feeling about GCSE Results Day?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Quick reply
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.