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    (Original post by KishanPatel99)
    Thanks that takes some stress off lol and i shifted demand inwards which is good. I got confused because the question was asking about consumption and i ended up shifting the demand curve inwards but hope it don't effect my grade to much
    consumption is demand, if the question was about consumption and you moved the demand curve you got it right, especially when it was talking about cigarettes, you definitely got it right
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    (Original post by zainyyyyy)
    consumption is demand, if the question was about consumption and you moved the demand curve you got it right, especially when it was talking about cigarettes, you definitely got it right
    Even when talking about an indirect tax in mirco econ?
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    i did that same extract, but an indirect tax is VAT, vat is supply and demand side, so it can shift both downwards
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    Hey did anyone do context 1? And if so for the 25 marker do you think you could have written about monopolies and perfect competition as that was in the extracts?
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    could you show the rise in indirect tax by just showing a movement along the demand curve and how demand falls as price rises?
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    And also, for the LRAC question where you had to select the graph which would gain monopoly power what was the answer?
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    Multiple Choice
    I found the multiple choice okay. There was a few odd questions and I think I put 250 instead of 240 on the PES questions by accident. I probably got around 14

    Context 2
    Definition
    I forgot to to talk about how demerit goods are over consumed in a free market! 2/3

    Maths Question
    Easy 4 marks for anyone who has any sort of maths knowledge.

    Data
    As usual. High vs High and Low vs Low. Another easy 4 marks.

    Graph
    As long as I'm right, I think I should get 4. I just showed the effect of a decrease in demand I believe

    10 Marker
    Found this okay. Just talked about the effects of it, tried to stick to the questions and explained the graph fairly well. Should get 8 or 9/10 on this one.

    25 Marker
    Im really annoyed about this, I only done 2 points. 1 on the effect of using regulations and one on the alternative method of using an indirect tax. Although I did explain them in detail. Overall I done 4 pages with a judgement at the end. If I only 2 points and a judgement, how many marks would I get?

    Overall I'm hoping for a B.
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    (Original post by Noioiiiic)
    And also, for the LRAC question where you had to select the graph which would gain monopoly power what was the answer?
    I put C. The one which gradually kept getting lower.
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    (Original post by Noioiiiic)
    could you show the rise in indirect tax by just showing a movement along the demand curve and how demand falls as price rises?
    The main idea of a tax is that the supply curve is the same as Private costs. If a tax is added there is an increase in costs since they now have to pay the government. That is why it is shown by a shift in the supply curve. Which increases price which then decreases the amount demanded.
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    Unofficial markscheme anyone?
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    anyone found a leak online of the QP or MS?
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    unofficial mark scheme please anyone.
    Also, I did context 1 but messed up the percentage question as i just worked out 45% of the value for 2014.
    Can someone please tell me how many marks I would get, if any, for getting that answer and the working out?
    Thank you
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    Paper was pretty decent I thought, a couple of different and testing MCQs but overall not bad. The ones I didn't get were the one asking for which part of the graph represented the increased price to consumers of monopoly being present. And the very last one on equality and equity? Any help?
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    (Original post by AlfieClements)
    Multiple Choice
    I found the multiple choice okay. There was a few odd questions and I think I put 250 instead of 240 on the PES questions by accident. I probably got around 14

    Context 2
    Definition
    I forgot to to talk about how demerit goods are over consumed in a free market! 2/3

    Maths Question
    Easy 4 marks for anyone who has any sort of maths knowledge.

    Data
    As usual. High vs High and Low vs Low. Another easy 4 marks.

    Graph
    As long as I'm right, I think I should get 4. I just showed the effect of a decrease in demand I believe

    10 Marker
    Found this okay. Just talked about the effects of it, tried to stick to the questions and explained the graph fairly well. Should get 8 or 9/10 on this one.

    25 Marker
    Im really annoyed about this, I only done 2 points. 1 on the effect of using regulations and one on the alternative method of using an indirect tax. Although I did explain them in detail. Overall I done 4 pages with a judgement at the end. If I only 2 points and a judgement, how many marks would I get?

    Overall I'm hoping for a B.
    I swear I put 250 instead of 240. I can't remember tbh. Do you know the question. It was like 0.8.
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    (Original post by Kholmes1)
    I swear I put 250 instead of 240. I can't remember tbh. Do you know the question. It was like 0.8.
    Yeah It was that question
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    For the increased price to consumers imposed by a monopoly question: The quantity drops from V to W and price increases from R to S. The consumers save VW times the original price (so WYUV on the diagram) but spend an extra W times the new price (so RSTY on the diagram). Therefore the correct answer was D: RSTY minus WYUV.

    As for the last question, the answer was D: equitable distribution of income is a value judgement.
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    (Original post by Pussy King)
    Can anyone remember the answer to the multiple choice question about labour productivity?
    It was A, the one about output falling at a slower rate than the fall in workers. Productivity is units produced / number of workers, so if units and workers both fall, but workers fall by a bigger amount than units, then productivity has risen.
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    (Original post by jamie5s)
    For the increased price to consumers imposed by a monopoly question: The quantity drops from V to W and price increases from R to S. The consumers save VW times the original price (so WYUV on the diagram) but spend an extra W times the new price (so RSTY on the diagram). Therefore the correct answer was D: RSTY minus WYUV.

    As for the last question, the answer was D: equitable distribution of income is a value judgement.
    Thats not true, its a positive statement, as it can be tested against the facts.
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    (Original post by jamie5s)
    For the increased price to consumers imposed by a monopoly question: The quantity drops from V to W and price increases from R to S. The consumers save VW times the original price (so WYUV on the diagram) but spend an extra W times the new price (so RSTY on the diagram). Therefore the correct answer was D: RSTY minus WYUV.

    As for the last question, the answer was D: equitable distribution of income is a value judgement.
    Yeah you're wrong dude, whether the distribution of income is equitable can be tested against facts, so it is a positive statement and thereby aswer B is correct.
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    (Original post by aschum11)
    Yeah you're wrong dude, whether the distribution of income is equitable can be tested against facts, so it is a positive statement and thereby aswer B is correct.
    No, equity is a measure of fairness, so it can't be tested against facts. EQUALITY can be tested against facts.
 
 
 
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