The Student Room Group

A-Level Economics help!

Hi,

Can somebody please read this and give me some feedback? Thanks in advance!

Evaluate possible ways the government could intervene to reduce the excess demand for state-funded health care. (20)
(edited 2 years ago)
it's really good! Only thing is for your intro, try to implement the definitions of any keywords from the question, or what you're going to talk about. Also, try to maybe link your conclusions more to the question at the end of each paragraph using more context. You have good analysis of the graphs and you linked them to the question. slayyy
Reply 2
omg thank you haha! i didnt include any intro or conclusion bc you are not required to. my last para was my second evaluation :smile:
Reply 3
Original post by cloudy1012
it's really good! Only thing is for your intro, try to implement the definitions of any keywords from the question, or what you're going to talk about. Also, try to maybe link your conclusions more to the question at the end of each paragraph using more context. You have good analysis of the graphs and you linked them to the question. slayyy

Also, do you have any idea how I can answer this question? It's not an essay question just homework.

Assess how the stock market exchange matches up against the assumption of a perfectly competitive market. Then, assess how each of the assumptions has been impacted by the internet.

I wrote this:
Perfect competition refers to a theoretical market structure. Some of the assumptions include: There are many buyers and sellers, no barriers to entry or exit, sell homogenous goods and perfect knowledge of information. However, in times such as the Wall Street Crash, where major stocks crashed, it could be argued that the stock market wasn’t perfectly competitive. That is because it undermined the assumption that a perfect market possesses many buyers and sellers and perfect information; it is difficult to be completely aware of the the current profits of a company.

Another assumption of a perfectly competitive market is for firms to maximise profit. However, consumers can easily check and compare the different prices of brokers on the internet. This suggests that modern technology has helped to reduce the profit margin of brokers, undermining an assumption for a perfectly competitive market and increasing consumer surplus.
(edited 2 years ago)
Original post by meli77
Also, do you have any idea how I can answer this question? It's not an essay question just homework.

Assess how the stock market exchange matches up against the assumption of a perfectly competitive market. Then, assess how each of the assumptions has been impacted by the internet.

I wrote this:
Perfect competition refers to a theoretical market structure. Some of the assumptions include: There are many buyers and sellers, no barriers to entry or exit, sell homogenous goods and perfect knowledge of information. However, in times such as the Wall Street Crash, where major stocks crashed, it could be argued that the stock market wasn’t perfectly competitive. That is because it undermined the assumption that a perfect market possesses many buyers and sellers and perfect information; it is difficult to be completely aware of the the current profits of a company.

Another assumption of a perfectly competitive market is for firms to maximise profit. However, consumers can easily check and compare the different prices of brokers on the internet. This suggests that modern technology has helped to reduce the profit margin of brokers, undermining an assumption for a perfectly competitive market and increasing consumer surplus.

yes, you have a good start to it. I would simply just continue to expand on what you've already written. So draw the graph for perfect competition, analyse and explain what happens and then link it to the stock market and any other context you know about. For context you can talk about how in the foreign exchange market there are many firms selling identical things (currency is the same internationally.) This info can help consumers. The structure of the market helps firms to start up because of the low barriers to entry and regulations in force and licenses.)
Hope that helps!!
Reply 5
Original post by cloudy1012
yes, you have a good start to it. I would simply just continue to expand on what you've already written. So draw the graph for perfect competition, analyse and explain what happens and then link it to the stock market and any other context you know about. For context you can talk about how in the foreign exchange market there are many firms selling identical things (currency is the same internationally.) This info can help consumers. The structure of the market helps firms to start up because of the low barriers to entry and regulations in force and licenses.)
Hope that helps!!

Thank uuuu

Quick Reply

Latest