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Edexcel A Level Economics A Paper 1 (9ECO 01) - 15th May 2024 [Exam Chat]

Reply 380

10

Original post

by krishnugget

I did the exact same thing lol, phone markets and Apple being a monopoly, and the oligopoly point too. Hope I'm not cooked cause I don't know if oligopolies necessarily affect contestability or not.

i spoke about oligopoly too but in supermarket industry. i spoke on how the supermakret industry is contestable due to the competition with discount stores etc. Then for evaluation i was like you could also say the supermarket industry is a oligopoly due to having some of it characteristics

Reply 381

heheheheha

2

Original post

by RG1122

In one of my evaluations for the CMA, I talked about how the buyer of computer chips could be a monopsony and in turn, the firm doesn’t have to worry about higher prices generated by the potential monopoly of Nvdia and Arms merger.
What do you guys think??

Did the same but said it was a bilateral monopoly and there is bargaining power on both sides for prices

Reply 382

willpownall

2

Original post

by aangie124567

for that one i talked about how there are bad working conditions and high barriers to entry because you need graduates and people with high skills - eval is that jobs are automated so they do the low quality jobs

no they had to do the technical jobs because the machines could produce, thats why the graduates weren't good enough and there was a shortage of supply

Reply 383

lemons10

4

for the labour supply 8 marker i think i messed up i put abt the qualification/skill levels of the graduates, evaluated it and for my second point i put that people may be discouraged from entering due to the risk of AI taking over future jobs bc they already have started doing lower skilled ones then evaluated it but im quite worried abt the second point

Reply 384

amina1122

10

Original post

by TL2512

guys i need your opinion
for the economies of scale question about whether electronics industry benefits from economies of scale i talked about the merger between Nvidia and Arm and how this increased output leading to economies of scale e.g. purchasing materials like copper and marketing etc.
I'm not sure if this is actually answering the question as it doesn't mention the merger but I assumed i could bring it in as it is in the extract. Do you think this is valid or have i missed the idea of the q?

i think thats valid it makes sense talking about the merger can be considered as application no?
Icl i think i missed the whole point of the question loool. i spoke abt how they have managerial economies of scale as they recruit high skilled workers resulting to output per working being more than marginal costs.

Reply 385

A.hyx06

4

if i tick the boxes instead of crossing for multiple choice do i get penalised

Reply 386

Jamiefornagh

5

Original post

by aangie124567

for that one i talked about how there are bad working conditions and high barriers to entry because you need graduates and people with high skills - eval is that jobs are automated so they do the low quality jobs

For that one, I wrote that one reason for the Low supply of labour, is due to the low wages offered for jobs in the electrical market, and as there are high levels of education needed to operate in the Electrical market, due to the increasing complexity and technicality (application from case study), people are unlikely to want to operate in the electrical market and may instead choose to work in higher paying industries, such as the engineering industry, etc. And I also drew a supply of labour diagram for analysis. I did also write another paragraph on this, but I can't remember it now.
Can someone tell me if what I wrote is credible as I need to get an A in Economics, and I'm starting to doubt myself.

Thanks.

P.S. If anyone knows if you write one paragraph and then a however then another paragraph, and then another however, is this a good way to respond to the 12 marker, as I wrote this but then I overheard people saying that that's not the right way to answer the question???

Someone please answer!!!

Reply 387

mflint2211

4

Original post

by anyanyany22

Oh crap ur right, am i cooked ?

I did the exact same thing because for some reason I read the values wrong and thought it was the other way around. Probably nerves from starting the paper tbh

Reply 388

Jamiefornagh

5

Original post

by yousuf.am

i wrote pretty much the exact same thing but i think its wrong as the values were closer to 0 meaning students were more elastic than adults probably cause of income differences, students have lower incomes so they're more responsive to price changes and vice versa for adults. i got it the wrong way round but i defined what PED is and the equation so if you did that its hopefully 2 marks worse case 1 mark

Yeah, I'm pretty sure I defined what PED is, unless I lost my head in the exam due to nerves, but Inshallah, it goes well for both of us. Lemme know what you get on results day my brother, or how about on results day, we'll all post our grades on this page, and hopefully its good news yh.

Reply 389

lucasmcewen

5

Original post

by anonymous987123

can anyone tell me whether Nvidia are the chip makers or are they purchasing the chips off a supplier, because one of my points is about monopsony power over the supplier for the merger question which doesn't make sense if they are the suppliers themselves. I swear it said somewhere about there being a global shortage with the supply of chips

they were making chips

Reply 390

LittyBizzy

1

I had perfect essay plans for every topic apart from q7, turned into a bit of a yapping session. Rest of the paper was pretty good, apart from forgetting to put a 2nd point for the 8 marker. Oh well, hoping I cook on paper 2 (which I have not revised for).

Reply 391

RasheedC

2

Original post

by krishnugget

I did the exact same thing lol, phone markets and Apple being a monopoly, and the oligopoly point too. Hope I'm not cooked cause I don't know if oligopolies necessarily affect contestability or not.

I think they do but someone said you couldn’t talk about more than one MS so idk, i’ll ask my econ teacher tomorrow on his thoughts

Reply 392

Fertuuu

3

For the 15 marker govt intervention one of my points was on tpp as it referenced “water pollution etc” in extract but everyones saying its not answering the question

Now i can’t remeber the actual question and im stressed

Reply 393

granolaspice231

1

can someone help me confrim if this is okay for the 25 marker ; So i talked about the hotel industry but i basically said Premier Inn is sort of a monopoly in the uk market due to its numerous hotels in the uk (over 800) and then i circled down on premier inn in both KAAE. so for first point, i talked about how costs will increase and this cost increase will affect all of premier inn's hotels so it'll have to increase its prices and since there may be limited alternatives for tourists due to premier inn's hotels in strategic areas close to the airport etc and thenni evaluated by talking about the government energy price guarantee and how this may reduce premier inns cost or a possible extra subsidy due to premier inn's contribution to the tourism industry and premier inn may make enough profits to be able to take up the extra costs without increasing the price of hotel rooms and then for my second KAA i talked about how premier inn may look for more cost efficent ways maybe using its monopsony power in the hotel industry to force food supplier and may be mattress sellers to take lower prices and suppliers may reach shut down point blah blah and then i evaluated by saying that there are many other hotes that suppliers can supply to and the government may intervene for food suppliers by introducing a minimum price

Reply 394

predestination

8

On the 12 marker on one of my CORs I accidentally called Nvidia a monopsony because I didn't realise monopsony only applies to buyers ---> I then had the rest of my argument about how the increased market share of Nvidia results in potential higher prices passed onto firms which use electronics in the production process because of price making ability ---> Just wondering if my argument would have gotten marks despite the mistake since the rest of it was valid

Reply 395

MICOXBIG

8

My handwriting was a bit of an issue, it would be a bit hard for examiners to make out some of the words (maybe 10% need close attention to it) am i cooked??

Reply 396

A.hyx06

4

i wrote in egyptian heiroglyphics my handwriting was so dead

Reply 397

Alexbaxter1725

1

In the factors affecting supply of labour i wrote about the geographical and occupational immobility is that alright?

Reply 398

grerkoegire

1

Original post

by amina1122

i spoke about oligopoly too but in supermarket industry. i spoke on how the supermakret industry is contestable due to the competition with discount stores etc. Then for evaluation i was like you could also say the supermarket industry is a oligopoly due to having some of it characteristics

in my opinion the best way to do it was to consider an industry that could be considered a monopoly due to economies of scale and high brand loyalty and then also a natural monopoly due to insanely high sunk costs like google

Reply 399

grerkoegire

1

Original post

by willpownall

your wrong pal

Only real option in my opinion was proportion of income

Edexcel A Level Economics A Paper 1 (9ECO 01) - 15th May 2024 [Exam Chat]

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