Edexcel Economics B A level Paper 1

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Js1223
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#1
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#1
Can we discuss answers for this exam that was today (Monday 23rd may). What did you guys get for calculation questions also?
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ABCD125
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#2
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#2
I got:
60.05% (or something like that) for conc. Ratio
3.something % for net profit margin
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MohA2312
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#3
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#3
I got 5:60.05 because it was a ratio and it said 5 firm concertation ratio
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Js1223
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#4
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#4
(Original post by ABCD125)
I got:
60.05% (or something like that) for conc. Ratio
3.something % for net profit margin
Yh same. For net profit margin I got 3.329 on the calculator and rounded it to 3.33%
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Js1223
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#5
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#5
(Original post by MohA2312)
I got 5:60.05 because it was a ratio and it said 5 firm concertation ratio
I don’t think you actually write it as a ratio. You add up the market share of the 5 firms then you get the percentage I think it was 60 something %
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ABCD125
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#6
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#6
(Original post by Js1223)
Yh same. For net profit margin I got 3.329 on the calculator and rounded it to 3.33%
Yeah 3.33% rings a bell. For 12 markers I felt like I basically wrote the same thing (economic growth/reduction in externalities) so not sure how well I did there.
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SitSat
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#7
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Which curve did people shift on the supply/demand diagram?
I did demand inwards because of cheaper substitutes
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Js1223
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#8
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#8
(Original post by SitSat)
Which curve did people shift on the supply/demand diagram?
I did demand inwards because of cheaper substitutes
Was this the one about subsides for electric cars and the effect of that on petrol and diesel one?
I put the demand inwards because a subsidy would decrease production costs and it was cheaper to own electric so people would buy that and demand for other fuelled cars would decline. So the price of them would drop to get some sales. I don’t think it’s right though or if I explained it well :/
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Js1223
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#9
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#9
(Original post by ABCD125)
Yeah 3.33% rings a bell. For 12 markers I felt like I basically wrote the same thing (economic growth/reduction in externalities) so not sure how well I did there.
Yeah i did the same as you but i kinda messed up on that one I think. I wrote about how creation of jobs would increase aggregate demand and economic activity (multiplier effect) and my second point was reducing the strain on the NHS from negative externalities caused by pollution.
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ABCD125
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#10
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#10
(Original post by SitSat)
Which curve did people shift on the supply/demand diagram?
I did demand inwards because of cheaper substitutes
Yeah I did demand inwards, same reasoning.
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ABCD125
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#11
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#11
(Original post by Js1223)
Yeah i did the same as you but i kinda messed up on that one I think. I wrote about how creation of jobs would increase aggregate demand and economic activity (multiplier effect) and my second point was reducing the strain on the NHS from negative externalities caused by pollution.
For counterpoint, I put that those made unemployed by diesel/petrol ban may not have necessary skills required to work in green fuel so job creation (hence AD growth) may be limited. Also, govt intervention by 2030 may be too late to reduce externalities, especially if second hand petrol/diesel cars can still be bought, limiting benefits to NHS.
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ABCD125
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#12
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#12
For 10 marker on why it was beneficial to have a variety of brands - I assumed that was the same as a market segmentation question???

For benefits I put: can charge premium pricing in niche markets and competition between brands owned by the same firm in 'high volume' (mass?) markets spreads risk

For disadvantages I put: costs of tailored products in niche markets may increase

Overall: increased costs of production in niche markets offset by potential for economies of scale in mass markets, overall high profitability potential and brand loyalty (depends on economic cycle/YED)

I stg I used the word 'offset' so many times in that paper...
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Js1223
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#13
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#13
(Original post by ABCD125)
For 10 marker on why it was beneficial to have a variety of brands - I assumed that was the same as a market segmentation question???

For benefits I put: can charge premium pricing in niche markets and competition between brands owned by the same firm in 'high volume' (mass?) markets spreads risk

For disadvantages I put: costs of tailored products in niche markets may increase

Overall: increased costs of production in niche markets offset by potential for economies of scale in mass markets, overall high profitability potential and brand loyalty (depends on economic cycle/YED)

I stg I used the word 'offset' so many times in that paper...
I wrote about economic cycle/YED and spreading risk too. But you seem to have explained it better than I did lol I think you did well don’t worry, you sound smart 😂
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ABCD125
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#14
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#14
(Original post by Js1223)
I wrote about economic cycle/YED and spreading risk too. But you seem to have explained it better than I did lol I think you did well don’t worry, you sound smart 😂
If only I were that articulate in the exam! Nah, I'm sure we'll be fine - 2019 grade boundaries were something like 58% for an A? And that's without lowered boundaries. Also we have papers 2 and 3 to go, hopefully they'll be kinder!!
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Js1223
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#15
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#15
(Original post by ABCD125)
If only I were that articulate in the exam! Nah, I'm sure we'll be fine - 2019 grade boundaries were something like 58% for an A? And that's without lowered boundaries. Also we have papers 2 and 3 to go, hopefully they'll be kinder!!
Yes I know i did bad on this paper I didn’t even do the 20 markers properly. I just need to do loads of past questions so hopefully i make up for it on 2 and 3 ugh I’m so nervous! What other subjects do you do?
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ABCD125
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#16
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#16
(Original post by Js1223)
Yes I know i did bad on this paper I didn’t even do the 20 markers properly. I just need to do loads of past questions so hopefully i make up for it on 2 and 3 ugh I’m so nervous! What other subjects do you do?
I do politics, chemistry and biology, not the most complementary of subjects! Wbu?
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Js1223
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#17
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#17
(Original post by ABCD125)
I do politics, chemistry and biology, not the most complementary of subjects! Wbu?
Omg 4 subjects! I was gonna do chem but i do psychology instead and biology too
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_OGT
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#18
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#18
(Original post by Js1223)
Was this the one about subsides for electric cars and the effect of that on petrol and diesel one?
I put the demand inwards because a subsidy would decrease production costs and it was cheaper to own electric so people would buy that and demand for other fuelled cars would decline. So the price of them would drop to get some sales. I don’t think it’s right though or if I explained it well :/
I got this I’m starting to think this wasn’t right tho after seeing some of the other arguments. I wanted to basically say that there would be less supply of the diesel and petrol cars and because of the increase in demand for electric there may be excess stock of petrol and diesel cars. I then said that the price would increase for the petrol and diesel cars to boost demand of the new electric instead.

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_OGT
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#19
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#19
(Original post by ABCD125)
For 10 marker on why it was beneficial to have a variety of brands - I assumed that was the same as a market segmentation question???

For benefits I put: can charge premium pricing in niche markets and competition between brands owned by the same firm in 'high volume' (mass?) markets spreads risk

For disadvantages I put: costs of tailored products in niche markets may increase

Overall: increased costs of production in niche markets offset by potential for economies of scale in mass markets, overall high profitability potential and brand loyalty (depends on economic cycle/YED)

I stg I used the word 'offset' so many times in that paper..
I spoke about how they could achieve economies of scale, especially with the move to electric they had the risk bearing economy of scale with Vauxhall in case the demand for say Alfa Romeo decreased. Could also of course give them purchasing economies of scale for expanding product range in the future.
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willbroadrick
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#20
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#20
(Original post by ABCD125)
For 10 marker on why it was beneficial to have a variety of brands - I assumed that was the same as a market segmentation question???

For benefits I put: can charge premium pricing in niche markets and competition between brands owned by the same firm in 'high volume' (mass?) markets spreads risk

For disadvantages I put: costs of tailored products in niche markets may increase

Overall: increased costs of production in niche markets offset by potential for economies of scale in mass markets, overall high profitability potential and brand loyalty (depends on economic cycle/YED)

I stg I used the word 'offset' so many times in that paper...
i mentioned economies of scale benefits by sharing parts such as fiat and alfa romeo with engines, therefore lower costs and higher demand / higher profit margins etc
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