AQA economics results + discussion thread Watch

Citizen_Keynes
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#121
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#121
It would help if we knew what had come up in the jan ones. TBH a lot fo the questions are repeated and just reworded a little, so i doubt that there will be any real surprises. Just to add to the Q, what do people recon will come up on he mod 4?
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jjbristol
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#122
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#122
mike, allocative efficiency is when resources are allocated in a way which produces net social benefit (so the positive externalities are more than the negative ones). so an example of market failure in this respect would be cheap alcohol as it is a demerit good so the social optimum would be to have alcohol priced higher so demand falls but when left to market forces the price of alcohol can be very low so this is an example of the misallocation of resources, market failure has occurred and there is hereby a strong case for government intervention (ie a minimum price or a tax). i hope that helps.
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02mik_e
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#123
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#123
Hey did anyone do the jan 2008 paper for National Economy? I done it as a mock and got 27/40. (11/15 MCQ & 16/25 DRQ-UK trade question i think it was). Anyone who had done this, did they find it hard?
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02mik_e
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#124
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And also what were the questions for Markets and Market Failure in Jan 08, I mean the DRQ, what topics did they cover? buffer stock scheme etc...
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Tyrotoxism
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#125
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(Original post by 02mik_e)
And also what were the questions for Markets and Market Failure in Jan 08, I mean the DRQ, what topics did they cover? buffer stock scheme etc...
Buffer Stock Schemes, and the different types / advantages of / reasons for govt intervention in the aviation market if i remember correctly.
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02mik_e
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#126
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(Original post by Tyrotoxism)
Buffer Stock Schemes, and the different types / advantages of / reasons for govt intervention in the aviation market if i remember correctly.
ok thanks for that , I think Public goods or Monopoly may come up this time :rolleyes:
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02mik_e
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#127
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(Original post by jjbristol)
mike, allocative efficiency is when resources are allocated in a way which produces net social benefit (so the positive externalities are more than the negative ones). so an example of market failure in this respect would be cheap alcohol as it is a demerit good so the social optimum would be to have alcohol priced higher so demand falls but when left to market forces the price of alcohol can be very low so this is an example of the misallocation of resources, market failure has occurred and there is hereby a strong case for government intervention (ie a minimum price or a tax). i hope that helps.
Thank you sooooooooo much, i can't thank you enough. I ve been trying to get my head round this for such a long time as i know i need it for the A Grade. Therefore a demerit good is allocatively inefficient as resources are being allocated in a way which does not produce net social benefit. The social costs exceed the social benefits (negative externalities are greater than positive externalities) Right?
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02mik_e
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#128
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#128
is a misallocation of resources basically allocative inefficiency?
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02mik_e
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#129
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#129
does anyone have advice on how to get an A on Unit 2- National Economy. I absolutely hate the diagrams in Mulitiple choice, is there ways in which it is easier to interpret them?
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dark<>horizon
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#130
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#130
(Original post by 02mik_e)
does anyone have advice on how to get an A on Unit 2- National Economy. I absolutely hate the diagrams in Mulitiple choice, is there ways in which it is easier to interpret them?

what?! i love module 2 compared to the first one!

for module 2 all u need really is a sound grasp of the 4 macroeconomic objectives.

the diagrams in multiple choice are easy?:confused:

its the tables of data and their interpretation which are hard
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02mik_e
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#131
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(Original post by SSSAAAUUUDDD)
what?! i love module 2 compared to the first one!

for module 2 all u need really is a sound grasp of the 4 macroeconomic objectives.

the diagrams in multiple choice are easy?:confused:

its the tables of data and their interpretation which are hard
oh sorry not the diagrams, the tables yeah, i know what you mean. The diagrams are easy as long as you know your definitions, it's just those tables which are quite difficult to interpret.
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JohnnyD
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#132
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#132
(Original post by jjbristol)
mike, allocative efficiency is when resources are allocated in a way which produces net social benefit (so the positive externalities are more than the negative ones). so an example of market failure in this respect would be cheap alcohol as it is a demerit good so the social optimum would be to have alcohol priced higher so demand falls but when left to market forces the price of alcohol can be very low so this is an example of the misallocation of resources, market failure has occurred and there is hereby a strong case for government intervention (ie a minimum price or a tax). i hope that helps.
when MSB = MPB + Pos Externality - this is still an example of market failure because there is an underprovision of a certain activity causing this pos externality.
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jjbristol
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#133
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yeah misallocation of resources and allocative inefficiency are the same thing. as for the data response in january the first was on buffer stocks and the second (which i did) was on the arguments for and against govt intervention in the aviation industry for environmental reasons. there's quite a lot of environmental questions i've noticed in the past papers.
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adrenaline1989
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#134
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#134
Bit late, but i've been entered for a unit 2 resit. Though I did initially achieve 88/105, my teacher has advised me to retake it and get 100%, which is not *that* difficult once you've covered the A2 syllabus.
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02mik_e
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#135
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#135
(Original post by Legend Killer)
Bit late, but i've been entered for a unit 2 resit. Though I did initially achieve 88/105, my teacher has advised me to retake it and get 100%, which is not *that* difficult once you've covered the A2 syllabus.
All the best
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adrenaline1989
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#136
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#136
Cheers mate, good luck with your exams aswell
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02mik_e
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#137
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#137
How do i analyse on the DRQs? is it drawing graphs etc...
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Mastermind`
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#138
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#138
Any tips for Units 4, 5 and 6 would be really appreciated.
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prash_s90
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#139
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#139
(Original post by Mastermind`)
Any tips for Units 4, 5 and 6 would be really appreciated.
unit 4 - dont bother revising that much, and learning pre learnt facts. I found it is a complete waste of time. Everything is given in the extracts. Just have a general understanding of EU and you'lle be fine.
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02mik_e
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#140
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#140
Has anyone got the Jan 08 papers?
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