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Edexcel A-level Economics Paper 1 5th June 2018 [Exam Discussion]

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Ohhhh yeah yeah my bad, I mistakenly thought something differently ‘Apologies’
Btw, Are you guys confident with these ‘Oligopoly’ ‘Monopoly’ and Monopsony?

These three are very weird for me😪

I HIGHLY doubt anything about monopsony will show up. All of section B last year was on monopsony more or less. I find oligopoly and monopoly pretty easy.. oligopoly is slightly more annoying and I would not pick a question about market structures for a 25 marker for sure.

Reply 21

TomLuxtino

Original post by Zystra

Really? More to talk about in a market structure essay than government intervention imo. The real killer would be a labour market 25 marker I reckon

Reply 22

temzra

I reckon paper section b will be mostly as stuff since last year it was all a level

(edited 5 years ago)

Reply 23

Zystra

Original post by TomLuxtino

Really? More to talk about in a market structure essay than government intervention imo. The real killer would be a labour market 25 marker I reckon

Think I worded what I said badly. I meant the questions such as "Perfect competition is a better market structure than oligopoly". I know the reasons but its just structuring that in an exam is really awkward.

I think for top level marks intervention is easier simply because there's more to talk about - if its how to reduce consumption of a demerit good you could draw tax on an externalities diagram which would be a solid paragraph then maybe regulation and information provision - I feel like I could do pretty well on that.

But I agree, labour market would be BRUTAL for a 25 marker. I wouldn't mind it for section B- its just that the spec doesn't have much on labour markets other than elasticity and shifts as well as minimum wage.. you could maybe answer a 15 market but 25? hell no

Reply 24

Zystra

Original post by temzra

I reckon paper section b will be mostly as stuff since last year it was all a level

That's not necessarily good though as the examiners want you to bring in a2 knowledge into it more or less.

I doubt it. There's not many topics on AS which could come up as anything more than a 5 marker except for government intervention and externalities - at least for externalities I would struggle bringing up anything from A2

Reply 25

username1208193

Original post by temzra

I reckon paper section b will be mostly as stuff since last year it was all a level

I highly doubt that.

Reply 26

Brandinho

Original post by temzra

I reckon paper section b will be mostly as stuff since last year it was all a level

What paper are you talking about because the section B from last year that I'm seeing is mainly AS (theme 1) questions. Paper 1 Section B.jpg

Reply 27

ismaeel786

That’s the wrong one. This is the section B of last year.

Hi. Some v useful videos for P2/3.

Reply 30

Brandinho

Original post by ismaeel786

Yeah you're right, my bad, I was looking at 2016. Luckily you've pointed that out to me before the exam!

Reply 31

ismaeel786

Original post by Brandinho

Yeah you're right, my bad, I was looking at 2016. Luckily you've pointed that out to me before the exam!

No worries

Reply 32

Brandinho

https://www.youtube.com/watch?v=tzmvLxgVeeU

This is probably worth checking out if you haven't already.

Reply 33

TomLuxtino

Original post by Zystra

Yeah I'd be tempted to bring things in from outside the spec like MRP but that's dangerous as it won't be on the mark scheme

Reply 34

Demesne7

guys when we're drawing perfect competition diagrams can we just draw the firm diagram (costs/rev) or do we HAVE to draw the market diagram adjacent to it (supply/demand)?

just asking bc of time-saving purposes considering how horribly tight econ exams are :/

Reply 35

Captainbikini

I would draw the market diagram with the equilibrium price, to show you understand, that in perfect competition, the firms are price takers

(edited 5 years ago)

Reply 36

Demesne7

Original post by Captainbikini

I would draw the market diagram with the equilibrium price, to show you understand, that in perfect competition, the firms are price takers

i see where youre coming from. thanks X

Reply 37

Demesne7

also guys, have you guys researched an industry / case studies of firms ? i didnt know we were supposed to till i just saw a question that said "refer to an industry of your choice" ?? help? :/

Reply 38

rhaegar447

Original post by Demesne7

also guys, have you guys researched an industry / case studies of firms ? i didnt know we were supposed to till i just saw a question that said "refer to an industry of your choice" ?? help? :/