OCR 2888: Economics in a European Context Watch

manDarinka
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#341
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#341
high value-added services WHAT ARE THEY ((
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5star
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ok anyone seen this question plain and simple "Discuss the benefits and costs of reducing CO2 emissions to the world economy"
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karatekid101
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(Original post by EnglishVic)
This time next week all my exams will just about be over. My fate will be sealed. Stress, i have no idea how im going to cope if i fail to get to uni. I cant go back to college. When this exam is over i can start to stress about 2884. Anybody else retaking?
yeah i'm retaking 2884 as well....didnt do so well in january! i havnt even started to revise for it yet! have you??? well I suppose we have time....but im worried about 2888 there is sooooo much to revise and its tomorrow morning! ahhhh!!
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Alessandro_22
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(Original post by Veni_vidi)
i think extract 3a and 5a will be the main focus of the exam
Yeah could be
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karatekid101
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(Original post by bbc_18)
Kinked demand curve:

Oligopolistic firms who are interdependent tend to stay at a constant price. (P) They don't want o raise prices becaus ethey understand that if price is set above P they face a very elstic demand curve so would lost a large proportion of their cutomers. Therefore, above P, demand is quite shallow (elastic).
However, if they were to lower their price, they don't pick up many extra customers because they enter into a price war(the competitiors would see that the firm is lwoering prices and so they too would lower prices) therefore, demand under P would be fairly steep (inelastic).

firm has no incentice to raise or lower prices. So this would explain why they wouldn't want to change prices. But, if you add in the MR/MC curves, this would explain why they wouldn't actually need to lower prices. Place the MR curve on the diagram and add MC. An increase in MC would not change price or quantity due to the vertial MR curve. Therefore a change in cost doesn't change price/quantity or the MC/MR position.
thank you!! wow u did a lot of revision 2day huh? ;D
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Alessandro_22
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Right i've had a go at one question I made up and thought I would upload it for you guys, I timed my self for 20 minutes and did it all with just a clean source book so forgive me if its rambling on in bits.

Any changes you would make would be great because I don't think i directly answered the question properly
Attached files
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myxm7
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can anyone draw up a quick summary of FDi affecting ASAD curves in short run and long run, best with an illustration if possible <3 cheers
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jodie_lee
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(Original post by MattJR)
University of East Anglia to do law, need AAB, think i'll probbaly get and ABB hoepfully that should be fine though
That's my insurance, and think I'll probably be going there! What other subjects do you do?
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manDarinka
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(Original post by jameskelsall)
hi guys,

I thought I'd add some resources to this thread. I've just been looking through some files my teacher gave me. Theres some diagrams which I think are really useful, so feel free to use as you wish.

I've had to upload the powerpoint file with the graphs on to my website as you cant upload it here.

Just right click, save target as...

http://www.jameskelsall.co.uk/charts.ppt

cheers
this soo doesnt open
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karatekid101
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(Original post by manDarinka)
this soo doesnt open
if you press save instead of open it does! and its really useful!
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GingerPele
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What does everyone think will be the main things that should be revised? Obviously there isn't much time to revise everything, but what is bound to come up or essential to learn?

Externalities? Regulations? FDI? Price differentials?

Cheers
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wiseman01
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My top 3 tips for this exam would be:

1) Do a practice essay on externalities, FDI and price differentials today.

2) In the exam, work backwards. It is better to do that mindless last-minute scribbling in the last 60 seconds under a 6 mark question than a 20 mark question. Just make sure you nail the last two essays for maximimum marks, and by doing them first, this is easier because less time pressure.

3) In essays, for evaluation think

i) Short Run + Long Run effects.
ii) Microeconomic + Macroeconomic effects + International effects.
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lizi100
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im worried i have missed off a major topic, i have done the background theory revision and i have concentrated then on Price differentials, FDI, Externalities -market failue and government intevention. is there any other main key themes that i should have done in detail??
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GingerPele
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Cheers for the help wiseman!

What about the benefits and costs of intergration lizi100 for another theme to revise, I dunno though.
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lizi100
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sorry repeated ginger question practically, posted just before me!
Also, if i were to quote figures and info from other sources than the extracts would i get any extra credit or is it not worth it? and would i have to say where i got it from?
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jodie_lee
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How about concentration of power in markets, because there's the stuff about oligopoly in the intro?
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boyz123
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(Original post by Alessandro_22)
Right i've had a go at one question I made up and thought I would upload it for you guys, I timed my self for 20 minutes and did it all with just a clean source book so forgive me if its rambling on in bits.

Any changes you would make would be great because I don't think i directly answered the question properly
The question seems to be very open . I feel that you seemed to explain the data much more than analyse and evaluate it . That is just my opinion .
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lizi100
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yea there was a lot of explaination in your answer....but it was goood stuff i would never be able to wirte that.
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lizi100
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i am so worried about this exam, i only need 112 marks from Europe and Work and Leisure to get an A, but i am so bad at essays and i have harderly done any revision for work and leisure that i could still completly screw this up! eurrghhh PANIC!
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manDarinka
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(Original post by Ploop)
This is from a question I answered about concentrated markets, can't remember what question it was though, sorry!

o A more concentrated market could lead to a greater imbalance of growth as they may seek to focus all their manufacturing in one region in order to benefit from economies of scale (i.e. source of components/pool of skilled labour). Conversely, they may seek to outsource, either to lower costs or to protect the firm from the economic shocks of specific countries.
o Loss of consumer welfare as concentrated markets have more control over price/quantity supplied and may restrict it in order to profit maximise. Could also see greater collusion and less variety of goods. Also, static inefficiency (MC=MR) so no productive efficiency (MC=AC) or allocative efficiency (MC=AR).
o However, concentrated (oligopolies/monopolies) markets also earn abnormal profit in the long run, which could be reinvested into R+D meaning dynamic efficiency and improved consumer welfare in the long run. Could also mean environmental targets are more likely to be met as a consequence.
o European Commission and separate national commissions will monitor competition and prevent it from being overly detrimental, either to economy or consumers.
o Benefit from higher economies of scale, so lower production costs which hopefully get passed onto consumer. Also, greater investment and potentially greater capacities could improve the elasticity of supply. However, if market becomes more concentrated as a result of growing firms; diseconomies of scale could occur due to size of firms.


If you look back a few pages, Alex has done some kick ass essay plans too.
you know the reduced consumer welfare?
is it cz of AS or AD shifting in?
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