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# AS Official Economics A Unit 1: Introduction to markets and market failure - 16th May watch

1. i wrote non-exhaustable instead of inexhaustible (definition of renewable energy sources). Will i lose a mark :P (4 mark question)
2. Heya peeps!

I have a very important question regarding Context 1 (it will make or break my grade, pretty much). Question 02:

What did you contrast? We had the electricity mix of the UK in the year of 2013 and 2014.

I said that coal aws 36.6% in 2013 as compared to 23% or however much in 2014, a more than 50% decrease in the % makeup of coal's making up of the electricity mix, as coal has been overtaken by Gas as the largest source of elec production, with 35% or so in 2014 from 20% in 2013, an almost 50% increase again.

And then to make sure I compared how renewable sources made up 13.5% in 2013 as compared to Nuclear energy in 2014 as 20% and then how renewable sources made up 17.5% in 2014 as compared to Nuclear energy's 23.5% in 2013.

I wanted to make sure that if I messed up which ones I was supposed to contrast, I would still get enough points for at least a few of my statements...

Any help would be hugely appreciated!

Hope you all managed well on the exam!
3. From what I remember:

Question about drawing demand Answer (D) i.e Other than price all other factors are held constant (Ceteris Paribus)
Competitive marker question answer (B) As there would be low profits and low barriers to entry
Question about PES ( answer (B)) as the % change was 20 therefore (200X1.2=240)
Question About productivity (Answer A) as output falls slower than workers, each worker, relatively would be producing more output
Question about income distribution AQA Q20 answer (C or D cant remember) but it was the one that included 'inequitable'
4. Question about tax was PFE3 as it is the vertical distance from the new equillibirum up until it hits the supply curve beneath it.
5. (Original post by Kkpolice)
Question about tax was PFE3 as it is the vertical distance from the new equillibirum up until it hits the supply curve beneath it.
Isn't the tax usually on the left hand side, from the new equilibrium point (of the MSC I think it was?) vertically down to the supply curve (so a big chunk of more than 50% the price would be due to the tax)? Just to clarify.

Likewise, have you done context 1?
6. Yeah yeah, the tax is on the left which is the vertical distance as mentioned. And no conext 2.
7. crap, what was the mean of cigarette prices
8. Did anyone do context 2?
9. I got 6.29
11. £6.29 is the correct answer for the mean of the cigarettes
12. (Original post by Caius Filimon)
Heya peeps!

I have a very important question regarding Context 1 (it will make or break my grade, pretty much). Question 02:

What did you contrast? We had the electricity mix of the UK in the year of 2013 and 2014.

I said that coal aws 36.6% in 2013 as compared to 23% or however much in 2014, a more than 50% decrease in the % makeup of coal's making up of the electricity mix, as coal has been overtaken by Gas as the largest source of elec production, with 35% or so in 2014 from 20% in 2013, an almost 50% increase again.

And then to make sure I compared how renewable sources made up 13.5% in 2013 as compared to Nuclear energy in 2014 as 20% and then how renewable sources made up 17.5% in 2014 as compared to Nuclear energy's 23.5% in 2013.

I wanted to make sure that if I messed up which ones I was supposed to contrast, I would still get enough points for at least a few of my statements...

Any help would be hugely appreciated!

Hope you all managed well on the exam!
What board?
13. Brilliant, And for the comparison I did peak and trough prices, would this be ok? and how about you, what did you do?
14. (Original post by Coolsul98)
What board?
Ah I thought this topic was dedicated to AQA.

It was AQA (sadly; the worst mark schemes I've ever seen).
15. For the cigarette diagram i e £400 vouchers you were supposed to shift the demand Curve to the left quantity demanded would decrease and price would decrease
16. did everyone find the multiple choice extremely difficult to previous papers or is it just me?
17. Yes KK that is exactly what I did, I was expecting a tax but hey. lets just give AWAY the 10 markers xD
18. Also in the multiple choice,
for the monopoly question where it is the difference between the top in the bottom was it the first answer e.g QRST or was it the one with QRST minus the bottom
19. (Original post by Coolsul98)
i wrote non-exhaustable instead of inexhaustible (definition of renewable energy sources). Will i lose a mark :P (4 mark question)
If it's AQA you might have wanted to define an economics term :/
20. i put RSTY

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