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Edexcel Economics B Paper 1, 2 & 3: 9EB0 01, 02 & 03 - 06, 13 & 19 Jun 2017

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I'd agree, I went for an increase in supply as Extract A said competition had increased. Only real justification I thought was enough to one side to decide it was supply.

Anyway, seemed difficult to try and quote any data or facts in my answers. Anyone else have the same problem?

Yeah, I went for a shift in supply too! Data and facts were quite hard to incorporate, but for the Timberyard company and objectives I talked about maintaining a reputation and used their award thingy so much lmao

Reply 61

m_wharrier

It had to be a shift in the right of the demand curve due to it stating changing tastes which is down as a determinant of demand in the specification

Reply 62

JoshL2

Thank God i wasn't the only one that found it hard!
Q1 I had no idea how to do operating profit margin, ran out of time on a few Q's so I couldn't explain fully. Brill!

Reply 63

m_wharrier

Original post by JoshL2

Thank God i wasn't the only one that found it hard!
Q1 I had no idea how to do operating profit margin, ran out of time on a few Q's so I couldn't explain fully. Brill!

You didn't actually have to work out the operating profit you just had to work out if the operating profit had gone up 20% you had to work out what 20% on top of the number given and then divide it by turnover

Reply 64

JoshL2

Yeah i worked out operating profit but then wasn't sure what to do so i divided it by number of new stores for some stupid reason.

I also did a shift to the right

Reply 65

m_wharrier

The answer for operating profit was around 13% and the answer for percentage change was -19%

Reply 66

Amcv

I got 13.88% or something and -19% or something aswell

Reply 67

Jerome85

Original post by m_wharrier

The answer for operating profit was around 13% and the answer for percentage change was -19%

LMAO if my supply and demand diagram went to ****, at least i got full marks for the operating profit and percentage change

Reply 68

jsharman

[QUOTE="Jerome85;71923764"]LMAO if my supply and demand diagram went to ****, at least i got full marks for the operating profit and percentage change[/QUOTES

got full marks on maths and messed up demand by shifting to the left
. Does anyone have a full set of roughly what the questions were ?

Reply 69

MCKP

How did the market structure affect the pricing strategy?

Reply 70

m_wharrier

Original post by MCKP

How did the market structure affect the pricing strategy?

I put because there were 3 mainly dominant firms the market structure was an oligopoly and they were likely to charge premium pricing because of strong brand loyalty and that this could be because their coffee will be more inelastic etc

Reply 71

LewisR99

Original post by m_wharrier

It had to be a shift in the right of the demand curve due to it stating changing tastes which is down as a determinant of demand in the specification

My book says the entry and exit of firms also shifts supply. It said there was an increase in the number of coffee shops. Is this wrong because your point is correct?

Reply 72

m_wharrier

[QUOTE="jsharman;71924440"]

Original post by Jerome85

LMAO if my supply and demand diagram went to ****, at least i got full marks for the operating profit and percentage change[/QUOTES

got full marks on maths and messed up demand by shifting to the left
. Does anyone have a full set of roughly what the questions were ?

Assess the extent to which the coffee market can be seen as contestable (10)
Is market share the most important business objective for that company
Assess the impact of falling crude oil prices on the uk economy (20)
Evaluate the impact on the Uk of increased regulation of the banking industry (20)

Reply 73

m_wharrier

Original post by LewisR99

My book says the entry and exit of firms also shifts supply. It said there was an increase in the number of coffee shops. Is this wrong because your point is correct?

I would say that is completely correct if the question hadn't specifically mentioned tastes I would've shifted supply if the question didn't mention tastes

Reply 74

jsharman

Original post by m_wharrier

Original post by jsharman

Reply 75

kwaters99

For the illustrate question - was it a shift in demand to the right? ( tastes - 4m )

And i put customer satisfaction as an alternative for ' Is market share the most important business objective for that company' so you reckon thats alright?

Also how did everyone find the last question/ what did you write? I thought it was a really tough question and my answer was an absolute disaster :frown:

(edited 6 years ago)

Original post by m_wharrier

I would say that is completely correct if the question hadn't specifically mentioned tastes I would've shifted supply if the question didn't mention tastes

Alright, cheers. I feel a tiny bit hard done by but ah well. Only a few marks, hopefully they won't matter.

Reply 78

Aima qureshi

Wasnt it a monopoly as it had a really high number of stores in comparision to the rest?

Reply 79

m_wharrier

Original post by LewisR99

Alright, cheers. I feel a tiny bit hard done by but ah well. Only a few marks, hopefully they won't matter.

I might not be right but if they say In the spec tastes is a determinant of demand and they mention it in the question I don't see how the answer could be any different but I can see why a lot of people would think supply would increase

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