OCR GCSE Economics A591/01 and A591/02

Nope
2 was the profit bit
2 was the supply curve graph


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We did have to draw a S&D curve (which was four marks and had to include supply labelled and the equilibrium). That graph was about cupcakes and how it shifted to the left because the cost of production increasing. The profit calculation was on a completely different page...it was about car manufacture scenario

what did everyone get for the calculation question? i got 20,00?

We did have to draw a S&D curve (which was four marks and had to include supply labelled and the equilibrium). That graph was about cupcakes and how it shifted to the left because the cost of production increasing. The profit calculation was on a completely different page...it was about car manufacture scenario

was it just me or was the markets paper a lot harder????!!!!!? :/

Guys for the very first question on unit 1
Did you put Train / Ship as capital
And the occupational director as Labour?


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It was a hard question that was
Really confused me


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Guys for the very first question on unit 1
Did you put Train / Ship as capital
And the occupational director as Labour?


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thats what i put

yeh he's right. was the supply curve inelastic or normal

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I TOLD YOU GUYS

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The supply curve just shifted to the left??? There was no question about inelastic supply. The question was asking about how cost of production affects the supply. The CoP increased, meaning it is more expensive to supply so supply decreases, shifting to the left. The only question there was related to elasticity was 'what does elasticity of demand is'.

I looked through my paper several times once I finished and there was only one graph question.



The calculation was on a different page to the supply and demand graph. It was a four mark question.
This is what I can imagine the mark scheme would say after looking at previous ones.

Mark One: Adding a correctly drawn supply curve that has shifted to the left
Mark Two: Labelling this supply curve with S2 / S1 depending on how you labelled the other supply
Mark Three: Jotting down the equilibrium showing that price increases
Mark Four: Jotting down the other part of the equilibrium showing that quantity decreases.

You had to label the equilibrium stuff (I am guessing) as the next question asked what would happen to the revenue, which would have increased as they'd sell products for higher prices and still maintain demand. Also, for a four mark question it would require more than a shift and label.

The calculation was a four mark question. I can imagine the marks came from:

Mark One: Multiplying 30 by 1000 to get 30000 (total revenue)
Mark Two: Adding the variable and fixed costs to get 10000 (total costs)
Mark Three: Subtracting total costs from total revenue to get 20,000
Mark Four: Displaying 20,000 as your final answer (believe me some people may get the correct working but then put 2000 as their final answer or something like that)

The supply curve just shifted to the left??? There was no question about inelastic supply. The question was asking about how cost of production affects the supply. The CoP increased, meaning it is more expensive to supply so supply decreases, shifting to the left. The only question there was related to elasticity was 'what does elasticity of demand is'.

I looked through my paper several times once I finished and there was only one graph question.



The calculation was on a different page to the supply and demand graph. It was a four mark question.
This is what I can imagine the mark scheme would say after looking at previous ones.

Mark One: Adding a correctly drawn supply curve that has shifted to the left
Mark Two: Labelling this supply curve with S2 / S1 depending on how you labelled the other supply
Mark Three: Jotting down the equilibrium showing that price increases
Mark Four: Jotting down the other part of the equilibrium showing that quantity decreases.

You had to label the equilibrium stuff (I am guessing) as the next question asked what would happen to the revenue, which would have increased as they'd sell products for higher prices and still maintain demand. Also, for a four mark question it would require more than a shift and label.

The calculation was a four mark question. I can imagine the marks came from:

Mark One: Multiplying 30 by 1000 to get 30000 (total revenue)
Mark Two: Adding the variable and fixed costs to get 10000 (total costs)
Mark Three: Subtracting total costs from total revenue to get 20,000
Mark Four: Displaying 20,000 as your final answer (believe me some people may get the correct working but then put 2000 as their final answer or something like that)

Did supply curve shift left or right? Cos it said demand increased so i thought that supply would increase aswell?

Supply shifted to the left.


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I just asked my tutor
He has the paper now and he went through it
You're mistaken it was on the same
Page
No, you don't get a mark for equilibrium
It's one mark for the supply curve and one mark for labelling it 'S'
The Equilibrium was not needed, if you did that's fine but wasn't needed
There was 2 marks available for profit calculation
My tutor said no will ask for a calculation no more than 3 marks
It's an A01 Question, not A02
I don't even know what that means xD



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Am I talking about the correct curve e.g. the cupcake one or did I miss out a question? I did the calculation and everything. There wasn't one about elasticity of supply though it was just about costs of production. So my question is was there only one diagram we had to do in the WHOLE paper?

I am surprised your tutor has the paper tbh. I thought OCR didn't release it for like another 10 days or something.