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2016 Edexcel Economics A: Paper 1 Intro To Markets And Market Failure (May 16th) watch

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    They will hopefully lower the grade boundaries. A 15 marker on the price mechanism; essentially a paragraph of information that we learnt towards the start of the year. I just wrote generically about incentivising, signalling and rationing. Will probably only get 3-4 marks since I didn't apply. Threw me off. I agree Q1 was worded badly too.
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    (Original post by Dnkz7)
    Yeah sorry i meant 2/3, what was I even talking about?!?!
    But yeah.. did anyone accidently put -4 instead of +4 for the elasticity question
    If you defined it right you'd still only get one mark because the other 2 marks were probably for a function of money and applying it to specialisations. I only defined it too dw and then I ranted on about specialisation lowering firm's cost which was pretty irrelevant
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    (Original post by Jasaron)
    I think people are over exaggerating the paper's difficulty because of the tricky 15 marker and the stupid three marker. I would guess 62 for an A?
    Well if last year the grade boundaries were 61 and people didn't find the long questions this difficult then it would have to be lower this year, like 55 for an A hopefully. And tbh the multiple choices were very hard as well.
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    WHAT THE F*** WAS THAT

    The 20 marker was an absolute madness.

    Public goods what the hell was there to talk about on that????
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    And there were literally no evaluation points to put up for all the questions.
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    What was the 10 marker? Something to do with market for rented houses?
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    (Original post by rosemondtan)
    Could you not just define specialisation, then proceed to explain that money can be used to purchase more efficient machinery and equipment to increase specialisation and money can be used to train workers in their skills and maybe increase their wages so that they can be even more productive?
    That makes so much sense. Unfortunately, I didn't have the clarity of mind that I needed at that point.


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    (Original post by Saaam1234)
    What was the 10 marker? Something to do with market for rented houses?
    Cross elasticity of demand I think.


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    (Original post by Hot&SpicyChicken)
    WHAT THE F*** WAS THAT

    The 20 marker was an absolute madness.

    Public goods what the hell was there to talk about on that????
    Describe them, why the government supplies flood defences, e.g. merit good evaluate about unitneded costs
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    (Original post by zahanara)
    Guys what do you think the grade boundaries would be? They have to be really low right?
    i think they will be lower than previous years however not what i would consider low although i am really hoping that they are alot lower than previous years
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    (Original post by Saaam1234)
    What was the 10 marker? Something to do with market for rented houses?
    You were supposed to say the effects of the Help to buy scheme on the market for rented accomodation.
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    (Original post by Hot&SpicyChicken)
    WHAT THE F*** WAS THAT

    The 20 marker was an absolute madness.

    Public goods what the hell was there to talk about on that????
    It was a pretty crap question for 20 marks! literally all I did was define public good, said why defence was a public good, how it would help people, quoted how much the government were spending on it, and then went on about opportunity cost, saying government could have better spent that money on areas such as healthcare. For evaluation I just linked it to my point about opportunity cost, saying it really depends on the economic state of the country and what govt. should spend the money on
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    Anyone do economics b pm me
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    (Original post by Hot&SpicyChicken)
    And there were literally no evaluation points to put up for all the questions.
    I agree. anyone else find evaluation hard?
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    (Original post by Chris141)
    You were supposed to say the effects of the Help to buy scheme on the market for rented accomodation.
    How many marks would you get if you drew a s/d diagram with demand increasing (for houses on sale) and demand decreasing (for rented property)?
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    (Original post by Bradkidd99)
    I agree. anyone else find evaluation hard?
    definitely
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    for the last question i talked about externalities and not it being a public good? will i get marks?
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    (Original post by zahanara)
    How many marks would you get if you drew a s/d diagram with demand increasing (for houses on sale) and demand decreasing (for rented property)?
    I drew a curve showing how the subsidies have taken an effect, then I evaluated talking about opportunity cost, time lag and magnitude and effectiveness of the subsidies. For the positives I linked it in with the extract talking about how it can make first time buyers save to pay for a deposit for a house for the mortgage
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    (Original post by Dnkz7)
    I drew a curve showing how the subsidies have taken an effect, then I evaluated talking about opportunity cost, time lag and magnitude and effectiveness of the subsidies. For the positives I linked it in with the extract talking about how it can make first time buyers save to pay for a deposit for a house for the mortgage
    that makes so much sense omg i literally forgot everything at that point. You seem like one of those people who came out of the exam still breathing lol. How did you find it?
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    (Original post by Dnkz7)
    I drew a curve showing how the subsidies have taken an effect, then I evaluated talking about opportunity cost, time lag and magnitude and effectiveness of the subsidies. For the positives I linked it in with the extract talking about how it can make first time buyers save to pay for a deposit for a house for the mortgage
    I thought we were considering its XED.


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