AQA Economics Paper 1- Markets and Market Failure (Tuesday 5th June)

would an valid point in terms of contestability; threat of incoming firms means firms are likely to price closer to the alloc efficient point and thus increase consumer welfare?

I reckon you'll get about 16-18 given all your points were valid, and clear logical chains of reasoning and linked explicitly back to the question. but you had to have discussed regulation relating to resolving the MF. I'm sure you've done well, obvisously we're all prone to making some mistakes

Hey, I wrote about reglaution regarding the pollution permit market but then I wrote about property rights over air :'( I did make it clearly this is highly impractical And came to the conclusion a global permit market is better with national regulation which would reduce the chance of regulatory capture

However ..my point on property rights over bloody air was sooooo stupid of me to make :'(

But how do you think my writing plan is like? Scoring in the low/mid tens? :'(

Hi it all depends on how you evaluated it, without looking you couldn't tell, but if you discussed property rights on air, but knocked it down with good evaluation then it would make your essay strong (given you discuss pol. permits and regulation etc)

you dont specifcially have to state pollution permits, as long as you referred to standard regulation thats fine. The main things they asked for were Regulation, taxation and property rights. But even then, property rights didn't require much writing. Just that it's ineffective as you can't apply property rights on air

how did u guys answer the 9 marker on banking which diagram ?

Hi I did write about property right on air is not feasible but didn’t evaluate it. Will this effect my grade?

i dont know about you guys but i had never been stressed for time econ before, but was in that exam, my nine marker was probably the only good thing. what did you guys put for the ratio? I wanted to do context two but i had never come across that a--- something word

I got 3.5:1 for the ratio

did anyone do the lorenz curve q?

I did that one

What did u write if u can remember

I think I started off by saying about wealth and income inequality then I drew the diagram. Said how the gini coefficient varies between 0 and 1 with one being the most unequal. Pretty sure I said that the further the Lorenz curve from the line of perfect equality, the greater the inequality. Didn’t think there was much to write about for a 15 marker tbh, what did you write?

just the same as you did aha i also said how the lorenz curve is used to measure the gini coefficient, area a over area a+b

Yeah I think I said that as well! Gonna need them extra marks after that monstrosity of a paper 3

I’m normally quite comfortable w the multichoice but not that one!! Ahaha death but I quite liked the 15 and 25 marker what about you?