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    (Original post by AsmaaMahamud97)
    I did- market will diminish because: price drops- people will choose to use the helptobuy instead
    Evaluated with I forgot.. Something.
    And I wrote that it would diminish because the extract said people would switch.
    I forgot the evaluation here as well.
    Am I the only one who thought it was a purely XED question like on the past papers?


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    Pretty sure it was about this as they are substitute goods, i just evaluated talking about consumer preferences brand loyalty to renting rather than buying a house
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    For the 10 marker I just evaluated the fact that in the long run deposits would increase to 20% and so demand for rented properties would decrease as they'd have to pay more to qualify for a mortgage which may not be an option as the properties were low end as stated in the case; those that were buying these rented properties may have a lower incomes, etc...
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    (Original post by bulletman54)
    wasnt the PES negative ?
    PES is always positive.
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    (Original post by Dnkz7)
    In the exact position as you bro, macro will be our hero at the end of the day
    I think it's more likely to be an indicator of the sort of questions they will throw at us in macro I.e. Long answer questions on irrelevant topics
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    (Original post by Dnkz7)
    What graph did you draw, all I defined was what the price mechanism was and the three types to allocate resources - signalling, rationality and incentives then I became stumped
    Just a normal demand and supply diagram and labelled the different price mechanism tools on it. It was required though, just helped me explain it better!
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    Did you put extension of demand or decrease supply for the multiple choice?
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    The help to buy scheme would have a short term benefit.
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    (Original post by Chris141)
    PES is always positive.
    What if a good or service has a maximum price put on it?
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    (Original post by Bigbosshead)
    Did you put extension of demand or decrease supply for the multiple choice?
    Extension
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    (Original post by Bigbosshead)
    Did you put extension of demand or decrease supply for the multiple choice?
    Demand.
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    but what is an 'extension' surely it is an expansion
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    The paper wasn't difficult, just poorly worded on the first question and the case study wasn't very nice
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    (Original post by AstarAstarA)
    The paper wasn't difficult, just poorly worded on the first question and the case study wasn't very nice
    What did you do for the 10 and 20 markers?
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    (Original post by zahanara)
    yeah but doesnt XED talk about quantity demanded of one good in relation to price of another? and it that question we were look at demand for both
    Its was a decrease in price due to the Help to Buy scheme reducing price of buying housing - in relation to demand for rented housing which is a substitute I think
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    (Original post by xJaayyy)
    What did you do for the 10 and 20 markers?
    The 10 mark question was fine it was just about XED substitutes

    20 mark question f was about subsidies for mortgages affecting the demand for housing. One the other hand, the inelastic supply was really the problem for housing allocation and whilst the government intervention was increasing the demand, they should have increased supply due to figure 1 and 2. The time lag as well with extract A evaluation. You could talk about there being an excess in demand/shortage in supply. The government turned to positive externality market failure into a government failure
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    This paper was genuinely horrific. I was left stumped as were the schools in my area.
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    (Original post by AstarAstarA)
    The 10 mark question was fine it was just about XED substitutes

    20 mark question f was about subsidies for mortgages affecting the demand for housing. One the other hand, the inelastic supply was really the problem for housing allocation and whilst the government intervention was increasing the demand, they should have increased supply due to figure 1 and 2. The time lag as well with extract A evaluation. You could talk about there being an excess in demand/shortage in supply. The government turned to positive externality market failure into a government failure
    I'll probably get NAQ for the 10 marker but I think I did pretty good on the 20 marker so thats alright then! I was aiming for an A it's pretty sad but we all learn!
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    (Original post by AnIndianGuy)
    This paper was genuinely horrific. I was left stumped as were the schools in my area.
    The problem was our economics department taught us that 10, 15 and 20 mark questions would be about government intervention and market failure - that something like price mechanism couldn't be a long answer question. This was based on the specimen and tutor2u papers
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    Damnnn, I didn't use a ruler for a single one of my diagrams, do you reckon that will effect my marks?
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    (Original post by AstarAstarA)
    The problem was our economics department taught us that 10, 15 and 20 mark questions would be about government intervention and market failure. That something like price mechanism could be a long answer question.
    i predicted a regulation 20 marker but nothing like that. Also I was disappointed in the fact that taxes did not come up at all. The price mechanism question was relatively simple if you broke down all the functions and evaluated with government failure and distortion of price signals, which sadly I somehow forgot.
 
 
 
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