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AQA A-level Economics new 7136 - 06, 13 & 19 Jun 2017 [Exam Discussion]

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I think I did the same to I did a negative externality diagram isntead of demerit diagram but then when I applied it I said it shows the demerit good which has negative externalities because I got myself confused, would that be acceptable :frown:

if you done a negative externality in consumption diagram you should be right , where MPB line is above the MSB line

Reply 421

MB98Yeezy

For context 1 9 marker q I drew normal monopoly and defined + mentioned characteristic of it but my proper answer was wrong cos I said costs go up but theyre offset by increased revenue so profits stay the same. Would I get maybe 5 marks for that?

Reply 422

ItsHabs

Original post by WilliamHaycocks

This seems like a good answer to me.

Its feels good getting some positive feedback, thanks dude

Reply 423

danboulton99

For context 1 9 marker, is it okay to draw two diagrams, one with a higher ATC curve than the other so less abnormal profit?

Reply 424

Ssssssssaas

Original post by WilliamHaycocks

It is true that there are no specific marks for diagrams on the new mark schemes. In the old exam papers you used to get 2 marks for a correct diagram but this is no longer the case. The wrong diagram may weaken your analysis a bit but if you talked about externalities in consumption and used this to answer the question it should not be too damaging.

Exactly what I did, surely if we are still analysing consumption then we will just not gain marks for a wrong diagram.

Reply 425

Remaine

How did people answer the 25 marker for Context 1 - I am semi worried. This is what I did, see if you can impart wisdom, I would just like to know if I was on the right lines:

- I said there is a market failure in the allocative inefficiency of the firm
- then drew a diagram to show the point of allocative efficiency, the welfare loss caused by the monopoly from restricting output/ increasing prices, and pointed out the consumer surplus lost in favour of company profits; indication of exploitation of consumers
- talked about how privatisation reduces x-inefficiency, and forces firms to be efficient
- talked about how PFIs enable less tax in the short run, and how they enable the construction of good facilities as the gov do not have to pay it back immediately
- then said that the PFIs result in higher taxes for future generations, privatisation can result in privatised monopolies which can be expensive to regulate, and how the PFIs lead to higher costs in the long run as the gov will eventually have to pay it back
- Evaluation being that it is good in a short run but bad in the long run
- mentioned deregulation as something you can use with privatisation - and then deaded that idea by mentioning the disadvantages; firms have no incentive to be productively efficient again

Was this on the right lines?

Reply 426

kamilosxdman

Original post by Gemmamcconville

On context A the first case study, what did everyone get for the 9 marker about the monopoly diagram for Royal Mail and how the obligations affect costs and price.I put how, having to deliver 6 days a week to multiple locations across the UK could increase AC, so showed this on a monopoly diagram shifting the AC upwards, and the abnormal profit being shrunk. Is this wrong?

That's what I said. And then I said that smaller Super normal profits would reduce dynamic efficiency as they can't develop new technologies like tablets for postman etc.

Reply 427

Starmock99

For the 9 marker I drew a D and s curve diagram shifting the S curve to the left . Would this be right or not? And I wrote about how costs may go up at the start but overtime the firm can find new ways and become efficient and therefore shifted the S curve to the right again but by a bit. Is this completely wrong ?

Reply 428

keynes24

In theory, you could get full marks without a diagram. In practice usually, good answers (L5) will have a few diagrams correctly labelled and applied to the question. If you look at the descriptor it shows "few if any errors"

Reply 429

MarghettoEnds321

Original post by danboulton99

For context 1 9 marker, is it okay to draw two diagrams, one with a higher ATC curve than the other so less abnormal profit?

That's what confused me a bit , I done the monopolistic competition diagram where the ATC curve is higher , but didn't know whether I should've used the normal monopoly diagram

Reply 430

thebigtommyowen

Context 1, 9 marker: I set the scene by drawing a monopoly diagram earning supernormal profit and said how the profits won't be competed away in the long run (didn't really know how to link it into the diagram too well), then wrote about how because of the use of things like email and online banks statements, demand is falling for letters, so revenue is falling (shift in AR, didn't draw it but think I wrote that it would happen), so they don't have retained profits, so they can't invest in capital to be more efficient and cut costs, and because of inflationary pressure, costs may increase due to higher wages, so costs will either stay the same or increase and profit will decrease. That sound like a plausible way to do it?

Reply 431

physicsamor

thank me later - let's forget this exam and move onto macroeconomics
here are some 25 markers from old spec and my teacher to get the brain rolling:

Using the data and your knowledge of economics, evaluate the likely impact on the UK economy of a number of EU countries attempting to reduce their public sector debt at the same time. (jun 15) 25

Explain how the process of quantitative easing in the UK might increase the rate of inflation. (june 15) 15

Assess the importance of a floating exchange rate to a country trying to achieve a period of macroeconomic stability. (june 14 ) 25

Evaluate the advantages and disadvantages of protectionist measures by developing countries!

Reply 432

bennny

Original post by Kaasi

Look inside of any aqa economics mark-schemes you moron. You have to draw a diagram which is awarded only a certain amount of marks. Answers are limited without it. Also, witht he wrong diagram, the analysis would be incorrect. So there is no hope for that peasant

Yes but you are looking at mark schemes for exams set under the old specification where they did award specific things like diagrams and definitions Under the new specification they don't do that They mark on levels So its the analysis which counts.Not including a diagram is not going to lose marks but does make it harder to gain analysis marks

Reply 433

ItsHabs

Original post by Starmock99

It said to specifically draw a 'monopoly diagram' pal

Reply 434

Holdsworth1

Hi everyone, I did context 2 on the gender pay gap and the essay 2 on poverty.

For the first 25 marker I wrote about how trade unions/ the NMW and progressive taxation and benefits could be used to reduce the gao in the economy and how successful each policy was.

For the second 25 marker I wrote about how the trickle down effect/economic growth could be used by the market forces to reduce poverty, and the NMW/progressive taxation and benefits for government intervention,

Does this sound about right on the whole? Found the paper fairly good.

Reply 435

Soulgeass

Original post by amuir720

For the context 1 9 marker I talked about variable costs rising because of wages and how they have to travel all the country etc, and explained how this will reduce the abnormal profits. But on my diagram I didn't shift the ATC/MC curves at all, I only showed reducing abnormal profit by simply moving their equilibrium further to the right. Anyone know if this could still work or whether my diagram just won't support it?

I think my diagram is similar to yours (I mentioned rising costs but for a different reason). I hope our diagrams are valid!

Reply 436

ademjh

[QUOTE="Kaasi;71922080"]

Original post by ademjh

Shut up you stuck up prick

You're just mad because you are an insolent self absorbed virgin

You definitely got bullied at school

Posted from TSR Mobile

Reply 437

Hjjhgnnh

Can anyone tell me what is the answer for the 4 marker on context 1? Thank you!!

Reply 438

coatsoft

I'm such an idiot for the sugary drink 15 marker I just did a diagram with demand and supply and not MSB and MPB. Anyone know many marks I will lose from this?

Reply 439

SWISH99

Original post by bkjsbcs

Yh talked about how it leads to static efficincy and prices are driven down and as a result supernormal profits turn into normal profit in the LR

Wb the 25 marker?

I went over the advantages and disadvantages of each market structure?

Didn't really talk much about types of regulation but I don't think you were meant to.

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