Ana ercegovic
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I think i didn't do well in my paper 1.I ran out of time and missed the 10 mark question in section B.Is it me or there's others who don't think they did as well as they expected?
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Sam_maths
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(Original post by Ana ercegovic)
I think i didn't do well in my paper 1.I ran out of time and missed the 10 mark question in section B.Is it me or there's others who don't think they did as well as they expected?
Prob did better then me...I completely panicked cause I knew barely anything about privatisation or the other 25marker.

I know what to write...I just don't structure it probably and ends upcoming making no sense.

AQA a level economics right? Which questions you choose?
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MajorFader
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(Original post by Sam_maths)
Prob did better then me...I completely panicked cause I knew barely anything about privatisation or the other 25marker.

I know what to write...I just don't structure it probably and ends upcoming making no sense.

AQA a level economics right? Which questions you choose?
What are your other subjects and what are you predicted in them and Economics?
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Sam_maths
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(Original post by MajorFader)
What are your other subjects and what are you predicted in them and Economics?
Maths and ICT (predicted - ABB) wanted an A in one but meh it's not looking good lol

Ow and A was for economics..😢
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CallumJSC
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For the 9 marker context one section A I did AC curve and MC curve up from added expenses as explained in extract B and hence reduced abnormal profit but not entirely sure if this is correct. I found the 25 marker hard at first but quickly got into things and the sources were godly which was very useful. In section B I found essay 3 absolutely amazing and super glad I picked it because I had lots of own knowledge and loads to write about, such as Mexico who recently introduced sugar tax and saw consumption fall by 12% over the year of introduction.

I did my best - probably could have wrote neater and gone slower but I was very prepared and didn't expect to finish it as quick as I did. Overall : Nice, standard paper with a good range of questions for almost any student, with section A being nastier than section B. However, its paper 1 and a lot of students might have been caught off guard and there is always paper 2 and paper 3 to improve on! So don't worry completely if you didn't go to well because there 2/3 of a chance to turn yourself around comfortably

I assume you speak about AQA micro paper 1 BTW.
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rara8999
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(Original post by Sam_maths)
Prob did better then me...I completely panicked cause I knew barely anything about privatisation or the other 25marker.

I know what to write...I just don't structure it probably and ends upcoming making no sense.

AQA a level economics right? Which questions you choose?
Oh i did AQA and I picked the context 2 about inequality as I had predicted that it was gonna come up. And then i picked essay three on the overconsumption of unhealth food and drink which i also had predicted. Tbh I was able to predict most of the paper the night before, Im going to try to do the same in the next few days for macro for sure! How did u find it?
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MajorFader
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(Original post by Sam_maths)
Maths and ICT (predicted - ABB) wanted an A in one but meh it's not looking good lol

Ow and A was for economics..😢
Is economics what your gonna be doing at uni?

DW you prob did better than you did.
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Sam_maths
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(Original post by CallumJSC)
For the 9 marker context one section A I did AC curve and MC curve up from added expenses as explained in extract B and hence reduced abnormal profit but not entirely sure if this is correct. I found the 25 marker hard at first but quickly got into things and the sources were godly which was very useful. In section B I found essay 3 absolutely amazing and super glad I picked it because I had lots of own knowledge and loads to write about, such as Mexico who recently introduced sugar tax and saw consumption fall by 12% over the year of introduction.

I did my best - probably could have wrote neater and gone slower but I was very prepared and didn't expect to finish it as quick as I did. Overall : Nice, standard paper with a good range of questions for almost any student, with section A being nastier than section B. However, its paper 1 and a lot of students might have been caught off guard and there is always paper 2 and paper 3 to improve on! So don't worry completely if you didn't go to well because there 2/3 of a chance to turn yourself around comfortably

I assume you speak about AQA micro paper 1 BTW.
Yeh section B essay 3 was a godsend... I used so many graphs and explanations with definitions ...min price, subsidies, taxes, regulations and I think I mentioned fiscal policy. Evaluation I just state don't it depends on the extent of the increase in tax as too little a change May be ineffective...also said the government could not intervene and leave it to the free market.

Mentioned price elasticity of demand, started off with direct and indirect tax definition..

As for section A...kill me now
For the concentration ratio on the 2 marker...I included 'other' ...thought about it as other includes multiple firms but I've never done a question like that so 2 marks lost already 😢.
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Sam_maths
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(Original post by MajorFader)
Is economics what your gonna be doing at uni?

DW you prob did better than you did.
Considered it, but after two years of it at A level I find it so dull and boring. That being said I chose finance and accounting lol I decided on that when I was 16...maths has always been my favourite!

If I don't get ABB I'm gonna take a gap year anyways...I 100% don't want to but need ABB for top firms...not just a 2.1 degree 😤
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CallumJSC
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(Original post by Sam_maths)
Yeh section B essay 3 was a godsend... I used so many graphs and explanations with definitions ...min price, subsidies, taxes, regulations and I think I mentioned fiscal policy. Evaluation I just state don't it depends on the extent of the increase in tax as too little a change May be ineffective...also said the government could not intervene and leave it to the free market.

Mentioned price elasticity of demand, started off with direct and indirect tax definition..

As for section A...kill me now
For the concentration ratio on the 2 marker...I included 'other' ...thought about it as other includes multiple firms but I've never done a question like that so 2 marks lost already 😢.
Hey its only 2 marks! I predicted a concentration ration Q would come up so I couldn't believe it when a nice one like that came up (obviously only if done before). Did you do AC and MC curve up for the 9 marker? and hence less abnormal profit)

For the essay 3 question I did this answer:

Define merit good, define market failure and explain over consumption.
Quick intro on 16bn cost to NHS of UK obesity, more than cigarette consumption and alcohol consumption cost to NHS combined and also 20% of children aged 10-11 are obese in UK alongside 25% of adults.
Drew over consumption of demerit good diagram and then shifted the MSC=MPC left so it become MSC=MPC+tax and operated and socially optimum quantity. Spoke specifically about an indirect tax like sugar tax. Spoke about removal of DWL and socially optimum level. Depends though on perfect level of tax which is not realistic.
I also said the tax revenue raised could be used to fund classes where addicts of unhealthy food such as those with eating disorders could help to be informed and improved. But depends on whether those with eating disorders actually attend etc.
Then when on to mention behavioral economics and bounded self control and highly price inelastic demand. Spoke about consumers might just important more unhealthy drink so the decrease in QS might not actually decrease QD if goods are imported. Also said revenue raise, especially due to inelastic demand. BUT depends on laffer curve.
Then traffic light system and a nudge policy. But said already in place and current obesity is bad so maybe framing should be introduced. Also spoke about how again bounded-self control and addiction will cause people to ignore the traffic light system to a nudge policy on its own isnt enough.
Final policy I wrote about was subsidies for healthy goods like apples (drew a diagram). I then said obese consumers might just eat the reduced apples AND the unhealthy food still which could worsen obesity if they do not stop eating unhealthy and still consume apples (Which I thought was quite funny, probably not a great point but oh well)
Concluded with tax and funding help sessions for addicts but also a nice nudge policy such as traffic light system improvement to prevent asymmetric information. Said subsidies are to expensive and will not prevent bounded self control etc. Then said depends on the tax level (again to clarify at end) and also depends on the extent to which the traffic light system is improved. Also said short run impact could be more so than long run impact if inflation occurs and the tax system is simply an added cost and not a percentage.

Thats basically my whole 25 marker XD Sorry about typing the whole thing in detail, I was just REALLY loving this 25 marker.
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CallumJSC
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(Original post by Sam_maths)
Considered it, but after two years of it at A level I find it so dull and boring. That being said I chose finance and accounting lol I decided on that when I was 16...maths has always been my favourite!

If I don't get ABB I'm gonna take a gap year anyways...I 100% don't want to but need ABB for top firms...not just a 2.1 degree 😤
Interestingly I took the exact same path! Wanted to do economics but I thought it was way too boring. Instead choose accounting and finance since I like business, math and a bit of economics here and there. Now LOVE math and hoping A&F will be good

I need AAA or AAB annoyingly so much pressure isn't it but hopefully I can do it.
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Sam_maths
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(Original post by CallumJSC)
Hey its only 2 marks! I predicted a concentration ration Q would come up so I couldn't believe it when a nice one like that came up (obviously only if done before). Did you do AC and MC curve up for the 9 marker? and hence less abnormal profit)

For the essay 3 question I did this answer:

Define merit good, define market failure and explain over consumption.
Quick intro on 16bn cost to NHS of UK obesity, more than cigarette consumption and alcohol consumption cost to NHS combined and also 20% of children aged 10-11 are obese in UK alongside 25% of adults.
Drew over consumption of demerit good diagram and then shifted the MSC=MPC left so it become MSC=MPC+tax and operated and socially optimum quantity. Spoke specifically about an indirect tax like sugar tax. Spoke about removal of DWL and socially optimum level. Depends though on perfect level of tax which is not realistic.
I also said the tax revenue raised could be used to fund classes where addicts of unhealthy food such as those with eating disorders could help to be informed and improved. But depends on whether those with eating disorders actually attend etc.
Then when on to mention behavioral economics and bounded self control and highly price inelastic demand. Spoke about consumers might just important more unhealthy drink so the decrease in QS might not actually decrease QD if goods are imported. Also said revenue raise, especially due to inelastic demand. BUT depends on laffer curve.
Then traffic light system and a nudge policy. But said already in place and current obesity is bad so maybe framing should be introduced. Also spoke about how again bounded-self control and addiction will cause people to ignore the traffic light system to a nudge policy on its own isnt enough.
Final policy I wrote about was subsidies for healthy goods like apples (drew a diagram). I then said obese consumers might just eat the reduced apples AND the unhealthy food still which could worsen obesity if they do not stop eating unhealthy and still consume apples (Which I thought was quite funny, probably not a great point but oh well)
Concluded with tax and funding help sessions for addicts but also a nice nudge policy such as traffic light system improvement to prevent asymmetric information. Said subsidies are to expensive and will not prevent bounded self control etc. Then said depends on the tax level (again to clarify at end) and also depends on the extent to which the traffic light system is improved. Also said short run impact could be more so than long run impact if inflation occurs and the tax system is simply an added cost and not a percentage.

Thats basically my whole 25 marker XD Sorry about typing the whole thing in detail, I was just REALLY loving this 25 marker.
I think your guaranteed an A for that...insane! I just panic...I bloody hate economics lol

Yeh I mentioned subsidies for merit goods such as fruit, decrease in price would act as an incentive, however it depends on the price elasticity of consumers as to whether the tax on sugary snacks/drinks? Actually has an impact as those with high disposable incomes would simply carry on consuming.

I also thought I was clever saying producers may not pass cost of tax onto consumer and keep there prices cheap as it would decrease the demand for there's goods, therefore consumers may seek out cheaper alternatives. Therefore the government could implement a minimum price to force firms to increase there prices instead of applying a tax.

And yeh I mentioned a negative externality in consumption...MPB>MSB

I'm good at explaining but I can't seem to get my hand round all the graphs! (Especially externalities)

To be honest, after section A my morale was down as privatisation completely ruined me...and yeh I did the monopoly diagram on the 9marker lol (Yey me)

I'd be lucky to get a C if I'm being honest, worst exam I've ever had, wish I could just do maths 24/7 lol
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CallumJSC
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(Original post by Sam_maths)
I think your guaranteed an A for that...insane! I just panic...I bloody hate economics lol

Yeh I mentioned subsidies for merit goods such as fruit, decrease in price would act as an incentive, however it depends on the price elasticity of consumers as to whether the tax on sugary snacks/drinks? Actually has an impact as those with high disposable incomes would simply carry on consuming.

I also thought I was clever saying producers may not pass cost of tax onto consumer and keep there prices cheap as it would decrease the demand for there's goods, therefore consumers may seek out cheaper alternatives. Therefore the government could implement a minimum price to force firms to increase there prices instead of applying a tax.

And yeh I mentioned a negative externality in consumption...MPB>MSB

I'm good at explaining but I can't seem to get my hand round all the graphs! (Especially externalities)

To be honest, after section A my morale was down as privatisation completely ruined me...and yeh I did the monopoly diagram on the 9marker lol (Yey me)

I'd be lucky to get a C if I'm being honest, worst exam I've ever had, wish I could just do maths 24/7 lol
Your answer for the 25 marker sounds excellent so far The point you made about prices not being passed on depends on the elasticity of the good, so although it might not occur it will likely occur if a good has highly inelastic PED because consumers are willing to bare the costs.

I learnt an all round diagram from Econplusdal about 3 days before the exam. He taught me almost everything I know! So deffo check him out if you don't know about him. I too panicked on the privatisation Q but slowly got into it so hopefully fine. I love maths so I definitely agree but I know to get into UNI I have to face the pain that is writing and economics Keep revising well for paper 2 and 3 and I'm sure you can get the grade you want!
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Sam_maths
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(Original post by CallumJSC)
Your answer for the 25 marker sounds excellent so far The point you made about prices not being passed on depends on the elasticity of the good, so although it might not occur it will likely occur if a good has highly inelastic PED because consumers are willing to bare the costs.

I learnt an all round diagram from Econplusdal about 3 days before the exam. He taught me almost everything I know! So deffo check him out if you don't know about him. I too panicked on the privatisation Q but slowly got into it so hopefully fine. I love maths so I definitely agree but I know to get into UNI I have to face the pain that is writing and economics Keep revising well for paper 2 and 3 and I'm sure you can get the grade you want!
Teacher has mentioned econplusdal but I've never checked it out...apparently he predicted privatisation and sugar tax for paper 1... wish I did check it out beforehand!

Hopefully...I'd be happy with a B grade

And best of luck on paper 2/3!
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Ana ercegovic
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(Original post by Sam_maths)
Prob did better then me...I completely panicked cause I knew barely anything about privatisation or the other 25marker.

I know what to write...I just don't structure it probably and ends upcoming making no sense.

AQA a level economics right? Which questions you choose?
Nahhh this is edexcel economics
Does anyone have a clue what the grade boundaries might look like this year?I also do aqa psychology and sociology so if anyone could be of help i would appreciate it
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