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

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    Could someone tell me if they reckon what I wrote is enough to get an A*?
    31- I spoke about how figure 2 shows falling out but said how it isnt really that significant. Also spoke about how there was a significant fall in employment but then evaluated by saying that it could be due to rising productivity. Then, spoke about how the percentage increase in imports were more than exports showing a lack of international competitiveness and a bit on the average growth rate.

    32- spoke about how economic growth is caused by rising technology which allows for better productivity. Analyzed this to get to how this reduces unemployment in the man. industry. For services, I mentioned that the income elasticity of demand is high, economic growth leads to rising incomes, that means more demand and demand for labor is derivied with demand for the good.

    33- Reasons for - Prevent rising unemployment, help to reduce the trade deficit, how steel is an essential good in other markets so it could have a knock on effect.
    Reasons against - Cost involved, government failure, the risk of certain policies eg. protectionism to help improve competition.
    Final judgement - depends on the type of intervention. How likely would gov failure be? In the short run, yes. In the long run, maybe not.
    Of course, everything i wrote was written in much greater detail and evaluation but just as points, do you think its enough for an A*?
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    (Original post by SWISH99)
    47.5?
    Oh, 47.5? Okay, fair enough, 37.5 isn't an option then.

    @Kholmes1 - I believe 5000 was Option A and 5500 was Option B.
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    What's did you guys get for the mcq with a table of values for GDP inflation population and gini, 6%,4%,1% and -0.8%.
    I put increase in living standards but I was unsure between this and rise in inequality as I thought -0.8% was good for equality
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    The 15 and 25 markers for this paper 3; what were the micro concepts and diagrams that could have been included because the content seemed very macroeconomic heavy for a synoptic paper
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    (Original post by J2671)
    The 15 and 25 markers for this paper 3; what were the micro concepts and diagrams that could have been included because the content seemed very macroeconomic heavy for a synoptic paper
    technological change, productive efficiency + allocative efficiency when discussing a tariff diagram, implications on other industries like auto manufacturing and the need to cut costs if steel prices rise, poverty in Port Talbot if the steel plant shut down, labour markets, negative production externality - when discussing the env reg policies, MRP diagram when talking about how wages rise in the 15 marker - rise in econ growth leads to increase AD - labour is a derived demand - MRP rises - wages rise - leads to outsourcing to china etc.
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    Does this sound acceptable-

    10 marker:
    Defined terms
    Chain of reasoning
    2 reasons showing how industry not in decline e.g some growth last through years all be it by a small amount and another one I can't remember.

    2 no- production fallen by a million tonnes, large job losses etc

    Final judgement- not in decline and data inaccurate as it fails to take into account financial crash in 2007 which would have had a large effect on the industry.


    15 marker-

    Intro-
    Define terms

    Point 1- productivity harder to increase though technology in services so these workers are possibly more skilled as computers can't take their jobs- higher Mrp than workers in manufacturing- higher demand for them and higher wages.

    2 labour mkt diagrams- increase D for labour in services fall D manufacturing

    2nd- some manufacturing goods likely to be commodities and necesssities- income inelastic so changes in price have a small change in qd- services income elastic and so as incomes rise a lot more is demanded resulting in higher employment here.

    3rd points competitive advantage in China means they can produce cheaper goods with cheaper labour so more emphasis in U.K. Placed on devices- higher employment.

    Used lots of data and added in 2016 UK 20 billion surplus on invisibles and financial service comparative advantage

    25 marker
    Into- define terms

    Point1- yew intervene- remove tax lower COP increase AS lower prices higher GDP

    Evaluated- used data spoke about how increase GDP would reverse the fall of 20% extract A. Used China can't remember how. Micro level- less taxes- dyn prod eff lower ACS (diagram) and increase equity consumers. Evaluated no but can't remember how

    2 point- yes but diiffernt approach- nationalisation as industry currently characterised by lots of small firms. Nationalisation- improve quality uk steel through supernormal profits and also more efficiency

    2 diagrams- perf comp to nationalisation. Used data

    Evaluated- no time said something

    Conclusion- evaluated my essay/ said a more through look is needed and China's low economic growth and external factors may be biggest problem in relation to the steal industry etc.

    Multiple choice- 22/30

    Will I get an A do you reckon?
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    (Original post by FTSE420)
    technological change, productive efficiency + allocative efficiency when discussing a tariff diagram, implications on other industries like auto manufacturing and the need to cut costs if steel prices rise, poverty in Port Talbot if the steel plant shut down, labour markets, negative production externality - when discussing the env reg policies, MRP diagram when talking about how wages rise in the 15 marker - rise in econ growth leads to increase AD - labour is a derived demand - MRP rises - wages rise - leads to outsourcing to china etc.
    They mentioned exchange rate in the extract. What could've been said with regards to the exchange rate?
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    I discussed tariff and more perfect mobility (in the steel industry by subsidising training) and that's all the micro I remember doing but most macro effects have some effects which can be classed as micro so I'm hoping that helps me out. Thanks mate you've done good from the looks of it
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    (Original post by FTSE420)
    technological change, productive efficiency + allocative efficiency when discussing a tariff diagram, implications on other industries like auto manufacturing and the need to cut costs if steel prices rise, poverty in Port Talbot if the steel plant shut down, labour markets, negative production externality - when discussing the env reg policies, MRP diagram when talking about how wages rise in the 15 marker - rise in econ growth leads to increase AD - labour is a derived demand - MRP rises - wages rise - leads to outsourcing to china etc.

    discussed tariff and more perfect mobility (in the steel industry by subsidising training) and that's all the micro I remember doing but most macro effects have some effects which can be classed as micro so I'm hoping that helps me out. Thanks mate you've done good from the looks of it
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    What did people get for the returns to scale one? I really couldn't get my head around it 😂put 2000-3000 in the end...
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    (Original post by TBoy11)
    What's did you guys get for the mcq with a table of values for GDP inflation population and gini, 6%,4%,1% and -0.8%.
    I put increase in living standards but I was unsure between this and rise in inequality as I thought -0.8% was good for equality
    I put this too, as I guess a -0.8% on the original gini coefficient means lower inequality so, therefore, higher living standards
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    Did half if my exam without using the extract :// 15 marker was strange - spoke about deindustrialisation and comparative advantage, then waffled my way through.
    1. AD increases, GDP increases, exchange rate increases - SPICED, however as external demand for the currency falls with the appreciation (floating exchange rate is self correcting), ceteris paribas, the currency will depreciate causing import prices to increase - increased cost of production - cost push inflation - labour shredding and higher prices to consumers.
    2. Improved education, higher skilled workers, division between white and blue collars, structural unemployment
    3. Other countries having a comparative advantage over same product

    25 marker was shambolic too, with only one developed point and no conclusion - timing was an issue.
    1. Protectionism - tariffs and subsidies to breed efficiency in donestic market - increases LRAS and allows exploitation of EoS in long run. Main bulk of protectionism was to reduce current account deficit in long run - didn't evaluate protectionism is depth
    2. Education and training of blue collar workers to absorb future structural issues e.g 2008 recession so they can move to alternative jobs with their marketable skills. Increases human capital and makes them more inelastic in supply
    No conclusion

    MCQ's were also weird, what did you guys get for constant returns to scale?
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    Was the profit maximising output 11 units and the return the scale- 1200
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    Why the **** are people still talking about econ? We've finished all our econ exams move on....
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    (Original post by Shoot)
    Why the **** are people still talking about econ? We've finished all our econ exams move on....
    Not sure if this is sarcasm.

    But maybe to discuss the exams and the answers?
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    (Original post by patricianature)
    I wrote how they should intervene 💔 Do you think ill be havily penalised for it?
    I'm not entirely sure, I'm not an A student myself but I think if you mentioned both sides of the argument you would be fine. Did you only write about should?
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    Guys, I'm freaking out about the 25 marker. I used a cost-benefit analysis for/against structure for the intervention. Were we only supposed to write positive reasons for intervention?
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    (Original post by ChairmanMeow1601)
    For the last MCQ, was it -12 or 12?
    12
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    Does this sound acceptable like A grade please help as I need the grade for uni


    10 marker:
    Defined terms
    Chain of reasoning
    2 reasons showing how industry not in decline e.g some growth last through years all be it by a small amount and another one I can't remember.

    2 no- production fallen by a million tonnes, large job losses etc

    Final judgement- not in decline and data inaccurate as it fails to take into account financial crash in 2007 which would have had a large effect on the industry.

    15 marker-
    Intro- Define terms

    Point 1- productivity harder to increase though technology in services so these workers are possibly more skilled as computers can't take their jobs- higher Mrp than workers in manufacturing- higher demand for them and higher wages.

    2 labour mkt diagrams- increase D for labour in services fall D manufacturing

    2nd- some manufacturing goods likely to be commodities and necesssities- income inelastic so changes in price have a small change in qd- services income elastic and so as incomes rise a lot more is demanded resulting in higher employment here.

    3rd points competitive advantage in China means they can produce cheaper goods with cheaper labour so more emphasis in U.K. Placed on devices- higher employment.

    Used lots of data and added in 2016 UK 20 billion surplus on invisibles and financial service comparative advantage

    25 marker
    Into-
    define terms

    Point1- yew intervene- remove tax lower COP increase AS lower prices higher GDP

    Evaluated- used data spoke about how increase GDP would reverse the fall of 20% extract A. Used China can't remember how. Micro level- less taxes- dyn prod eff lower ACS (diagram) and increase equity consumers. Evaluated no but can't remember how

    2 point- yes but diiffernt approach- nationalisation as industry currently characterised by lots of small firms. Nationalisation- improve quality uk steel through supernormal profits and also more efficiency

    2 diagrams- perf comp to nationalisation.

    Used data Evaluated- no time said something

    Conclusion- evaluated my essay/ said a more through look is needed and China's low economic growth and external factors may be biggest problem in relation to the steal industry etc.

    Multiple choice- 23/30 Will I get an A do you reckon?
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    (Original post by junky27)
    Does this sound acceptable like A grade please help as I need the grade for uni


    10 marker:
    Defined terms
    Chain of reasoning
    2 reasons showing how industry not in decline e.g some growth last through years all be it by a small amount and another one I can't remember.

    2 no- production fallen by a million tonnes, large job losses etc

    Final judgement- not in decline and data inaccurate as it fails to take into account financial crash in 2007 which would have had a large effect on the industry.

    15 marker-
    Intro- Define terms

    Point 1- productivity harder to increase though technology in services so these workers are possibly more skilled as computers can't take their jobs- higher Mrp than workers in manufacturing- higher demand for them and higher wages.

    2 labour mkt diagrams- increase D for labour in services fall D manufacturing

    2nd- some manufacturing goods likely to be commodities and necesssities- income inelastic so changes in price have a small change in qd- services income elastic and so as incomes rise a lot more is demanded resulting in higher employment here.

    3rd points competitive advantage in China means they can produce cheaper goods with cheaper labour so more emphasis in U.K. Placed on devices- higher employment.

    Used lots of data and added in 2016 UK 20 billion surplus on invisibles and financial service comparative advantage

    25 marker
    Into-
    define terms

    Point1- yew intervene- remove tax lower COP increase AS lower prices higher GDP

    Evaluated- used data spoke about how increase GDP would reverse the fall of 20% extract A. Used China can't remember how. Micro level- less taxes- dyn prod eff lower ACS (diagram) and increase equity consumers. Evaluated no but can't remember how

    2 point- yes but diiffernt approach- nationalisation as industry currently characterised by lots of small firms. Nationalisation- improve quality uk steel through supernormal profits and also more efficiency

    2 diagrams- perf comp to nationalisation.

    Used data Evaluated- no time said something

    Conclusion- evaluated my essay/ said a more through look is needed and China's low economic growth and external factors may be biggest problem in relation to the steal industry etc.

    Multiple choice- 23/30 Will I get an A do you reckon?
    Paper was straightforward.
    I think it will be 63 for an A
    You only got 23 on the MCQs
    Up hill struggle for the rest i'm afraid.

    Looks like good points though.
 
 
 
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