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Economics AS EDEXCEL 2017 Official Thread

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Reply 180

RevisionGuide

For the university fees cut question, did anyone else draw a diagram representing a maximum price?

Reply 181

RevisionGuide

Original post by wolfie3

Im talking about the 10 marker about rational behaviour? That's where I said about e cigs being addictive and contains nicotine so it wont be rational

That's what I'm talking bout aswell lol

Reply 182

Washermashen

Original post by nisha.sri

I did the exact same thing !! :frown:

How many marks do you think we will lose? I'm aiming for60+ so I really
Don't want to lose many marks 😬😬

Reply 183

wolfie3

Original post by RevisionGuide

That's what I'm talking bout aswell lol

Yeah I put two evaluative points one of em was that one but no didnt talk about information failure

Reply 184

EconAyo

With the whole drawing a -ive externality in production thing, if you're analysis was about production of cigarettes then you're probably fine, I did the same.

If not, then you may lose a couple application marks, as long as analysis is correct, when it comes to referring to diagram in analysis but nothing dramatic. Plus you can pick those up elsewhere

Reply 185

wolfie3

Original post by RevisionGuide

For the university fees cut question, did anyone else draw a diagram representing a maximum price?

yeh, they gave a whole page of lines i was so confused

Reply 186

RevisionGuide

Original post by wolfie3

Yeah I put two evaluative points one of em was that one but no didnt talk about information failure

For the rational behavior question, I just talked about asymmetric information, prices of the two in relation to utility maximisation and I also mentioned elasticity of tobacco briefly. Also how people may achieve greater satisfaction from tobacco rather than e-cigs due to a sense of self control.

Reply 187

EconAyo

Original post by RevisionGuide

For the university fees cut question, did anyone else draw a diagram representing a maximum price?

I did a downward shift in the maximum price as the £9k was already a max so £6k was just a lower max

Reply 188

RevisionGuide

Original post by Washermashen

How many marks do you think we will lose? I'm aiming for60+ so I really
Don't want to lose many marks 😬😬

was this for the gov intervention in cigarette markets? if so what type of intervention did you talk about

Reply 189

RevisionGuide

Original post by EconAyo

I did a downward shift in the maximum price as the £9k was already a max so £6k was just a lower max

yh I defined max prices as price ceilings below the market equilibrium, and showed that on a diagram (lower prices signal/incentify consumers to enter a market and increases demand) Then I put the government would have to provide subsidies to meet the excess demand and achieve an equilibrium. I kinda went a bit further that you needed to lol

Reply 190

Washermashen

Original post by RevisionGuide

was this for the gov intervention in cigarette markets? if so what type of intervention did you talk about

Ad valorem tax, minimum price and education schemes to reduce information failure

Reply 191

-GIA-

I ****ed the 15 marker fams. I thought -1.9 was inelastic and based my analysis and evaluation on that. I done ****ed up. Apart from that though it wasn't bad

Reply 192

wolfie3

Original post by -GIA-

I ****ed the 15 marker fams. I thought -1.9 was inelastic and based my analysis and evaluation on that. I done ****ed up. Apart from that though it wasn't bad

lol legend, dw i saw an examplar answer where someone did a major mistake like that and they still got some analysis marks

Reply 193

RevisionGuide

Original post by Washermashen

Ad valorem tax, minimum price and education schemes to reduce information failure

If you talked about an indirect tax on production, you won't lose any marks for using a diagram showing external costs, as taxes affect both consumption and production. A tax on production can be 'pushed onto' consumers if the good is inelastic (which it is). So yh I think you'll be fine.

Reply 194

RevisionGuide

I might do question 6a-g first for the macro exam as that's where most of the marks come from. Then I'll do section A last. Do you guys think this a good or bad idea?

Reply 195

wolfie3

Original post by RevisionGuide

I might do question 6a-g first for the macro exam as that's where most of the marks come from. Then I'll do section A last. Do you guys think this a good or bad idea?

Same, Im thinking of doing that too however I feel like section A kinda gets your brain working and its the easiest marks in the paper.

Reply 196

faye22

Phew i really ruined that, was majorly messed up by timing....what do you guys think the boundary for a D out of the 80 marks on that paper will be...sooo gutted I knew the content just didnt get a chance to put it down smh

Reply 197

RevisionGuide

Original post by wolfie3

Same, Im thinking of doing that too however I feel like section A kinda gets your brain working and its the easiest marks in the paper.

Section A is normally really easy to get full marks in (my aim was to only spend 15mins on this section, however ended up spending 20-25mins on it which was the time I lost for the 15 marker). You can gain a lot more marks in the 20marker and 15 marker, rather than spending ages thinking about a 1 mark question/3mark question.

Reply 198

wolfie3

Original post by RevisionGuide

Same !!

However this time it meant it cut into my 20 marker question but oh well. I'll think about it in the weekend but yeah I think its good because you're not going to feel the pressure when doing the 20 marker and 15 marker

Reply 199

RevisionGuide

Original post by wolfie3

Same !!

I had 30mins left in the , so I skipped the 15 marker and did a really good 20 marker instead, and then went back to the 15 mark that left me with 10 mins left where I did a short intro, my first paragraph, a diagram and like 3 lines of counter balance lmao. I should definitely get a few marks, whether its 6 or 7 marks :P