rohan.v
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How did everyone find it?
(for the last question was it positive production externalities or negative production externalities when looking at wind farms generating electricity??)
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tristankallas
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Yeah was very nice. Last part definitely negative production externality... according to the head of economics at my school anyway. What did you put?
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rohan.v
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Positive production surely. Because wind farms create positive externalities through creating electricity in a renewable manner (thus no pollution or environmental effects). If it were negative production, then ur suggesting there is overproduction in the market. Consequently a subsidy would just move us further from equilibrium which simply isn't right.
Also, which school do you go to
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Pato1
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Good to see the new spec get a nice paper
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rohan.v
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Pato1, what did you put, positive or negative ??
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alfieeee
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rtewr
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alfieeee
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i made the most stupid mistake ever i spelt subsidy wrong instead i used the word subside as i was in a rush to finish in time could this ultimately cost me the whole essay as subside is totally different to subsidy
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Kinderlan
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Found multiple choice quite hard but, overall, the exam wasn't too hard and question 16 was a gift. Did anyone choose question 18 for the 20 marker?
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rohan.v
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lol no, saw the subsidy and went straight for that. anyone who did question 17, was it positive or negative production externality????
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pinkflowersxx
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positive externality - wouldn't use a subsidy for negative externalities
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QuantizedLY
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What did you guys put for the evaluation of question 16 and 17?
Question 16: Limitations of minimum price : depends on PED, excess supply(market doesn't clear) and time period
Question 17 : Limitations of subsidies to wind farms : opportunity cost , PED, misuse of subsidies
Is there anything missing ?(or a lot)
When do we get the mark scheme and grade boundaries?



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running man
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I think the min pricing question was a comment not evaluate question so I don't think you needed an evaluation but I may be wrong............
As for subsides, benefits were
1) cost of Positive externality were internalised however they positive externality was still present
2) could change consumer preferences
3) makes merit good cheaper (wind farms)
Negative were
1) difficulty to put a monetary value on a merit good
2) opportunity cost
3) may make producers inefficient and reliant on subsidies-gives them less incentive to lower costs of production and innovate
4) PED - won't do much for in elastic good
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running man
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(Original post by rohan.v)
lol no, saw the subsidy and went straight for that. anyone who did question 17, was it positive or negative production externality????
Tbh you could argue both positive consumption and positive production as long as you have reasoning
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running man
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(Original post by tristankallas)
Yeah was very nice. Last part definitely negative production externality... according to the head of economics at my school anyway. What did you put?
It isn't a negative
It was positive production externality
The government wouldn't subsidise a negative externality
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sharminahmed_
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Guys for the 20 marker I said windmills is a positive externality of consumption because there would be less carbon emissions Would I lost a lot of marks for doing that? please reply, I'm extremely worried.
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running man
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That is the perfect answer 👌🏻
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