OCR 2888: Economics in a European Context Watch

jameskelsall
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#261
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#261
(Original post by Veni_vidi)
i've been meaning to discuss about the diagram that might be useful to use for this paper, thanks jameskelsall
(Original post by boyz123)
Oh that is a good collection .Thanks
No probs guys
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Veni_vidi
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#262
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(Original post by 5star)
So much talk about fiscal harmonization can someone please expain clearly what it means please..thanks
read this:

http://tutor2u.net/economics/revisio...monisation.pdf

it might help if you make it relevant to the case study when reading it as some of the points in there are not relevant to the case study.
but it's useful on the whole
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Veni_vidi
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#263
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#263
am at the stage where i dont know what to revise anymore but am still feeling like i've missed out something.
anyone else feeling like this?
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amandeep12
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#264
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#264
Hi people i got another question to get you warmed up

Dicuss what would happen to Aggregate supply if government intervines in the automotive market to correct market failure? [20 Marks]
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boyz123
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#265
(Original post by Veni_vidi)
am at the stage where i dont know what to revise anymore but am still feeling like i've missed out something.
anyone else feeling like this?
yep me.
I feel in some questions, there are two many points to mention and analyse but may get nowhere sometimes.
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amandeep12
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#266
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#266
thanx anyway ploop it still helps make a start
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Veni_vidi
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(Original post by amandeep12)
Hi people i got another question to get you warmed up

Dicuss what would happen to Aggregate supply if government intervines in the automotive market to correct market failure? [20 Marks]
micro----i'm assuming supply would be restricted or decreased, if the intervention leads to higher prices(taxation) demand would decrease however this depends on the elasticity and the suppliers decision on whether to pass the costs to consumers.

macro---if the govt uses taxation to correct market failure, this would increase firms costs, output is likely to decrease and unemployment to increase, this will decrease aggregate supply.
if the costs are passed on to households then consumption will decrease if demand for cars is inelastic, this will cause AD to fall and AS to decrease(depending on where AD was originally positioned on the LRAS curve).

this is not enough for a 20 mark question, consider other factors that would be affected by the intervention and the nature of the intervention and it's likely impact on AS.

i hope we get something like this, i like anything to do with AS or AD, makes life simple
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matz92
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#268
what's a value added service?:confused:
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jameskelsall
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#269
Hi,

I know this has been reffered to before but I'd be grateful if someone could explain it in a little more detail...I understand how concentrated markets lead to more abnormal profit, just not the following....

If the UK joined the eurozone, why might this lead to markets becoming more concentrated? (as in less firms)

thanks
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Veni_vidi
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#270
come on my revision buddies, you're all gone quite, we need more questions....:p:
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Veni_vidi
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#271
(Original post by jameskelsall)
Hi,

If the UK joined the eurozone, why might this lead to markets becoming more concentrated? (as in less firms)

thanks
good question, havent thought about it though
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Veni_vidi
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#272
(Original post by matz92)
what's a value added service?:confused:
services rather than manufacturing i think e.g. financial services, Research
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wiseman01
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#273
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#273
(Original post by jameskelsall)
Hi,

I know this has been reffered to before but I'd be grateful if someone could explain it in a little more detail...I understand how concentrated markets lead to more abnormal profit, just not the following....

If the UK joined the eurozone, why might this lead to markets becoming more concentrated? (as in less firms)

thanks
I think in short, there will be greater competition, and abnormal profits will fall. Therefore to preserve economies of scale, there will be more mergers and acquisitions, which joins firms together and therefore there will eventually be fewer, but larger firms.
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Lili!
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#274
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#274
I agree with wiseman01.. very wise! ha hah..
ha erm yeah, firms would lose market share and so could do the whole rationalisation thing where they reduce capacity and their number of employees to return to profitability.. And like wiseman said they could engage in more mergers & acquisitions to reduce unit costs, e.g. sharing R&D costs, which would make the market more concentrated. ALSO merging together could be a tactic to try to successfully enter the CEE market.
maybe? sounds pretty logical.. gahh i hope we get nice questions on friday!
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exams52
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#275
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#275
can someone tell me the meaning of rationalisation please?!
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Veni_vidi
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#276
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#276
(Original post by exams52)
can someone tell me the meaning of rationalisation please?!
rationalisation aims to streamline the business and reduce costs eventually, when firms merge they share the available resources and get rid of extra resources such as car plants or offices and they share R&D.
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Lili!
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#277
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#277
hell yeeahh
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sophieliu85
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#278
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#278
anyone screwed the development paper??
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sophieliu85
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#279
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#279
suprisingly enough.... my teacher gave us the same charts as the one u posted...do they get these frm the OCR board?
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boyz123
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#280
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#280
I probably did lol
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