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OCR GCSE Economics Paper 1 (J205/01) - 13th May 2024 [Exam Chat]

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How did your OCR GCSE Economics Paper 1 exam go?

OCR GCSE Economics Paper 1 (J205/01) - 13th May 2024 [Exam Chat]

Welcome to the exam discussion thread for this exam. Introduce yourself! Let others know what you're aiming for in your exams, what you are struggling with in your revision or anything else.

Wishing you all the best of luck. :yy:

General Information
Date/Time: 13th May 2024/ PM
Length: 1hr 30m
(edited 1 month ago)

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Reply 1
anyone have predictions for the question?
Reply 2
they exist! others who took ocr economics!
Reply 3
please be here at 4:00 tmrw so we can discuss the questions and answers
Reply 4
That was one easy test. I'm surprised at the amount of diagrams we had to draw though.
Reply 5
What did you put for the multiple choice of price function
Reply 6
I think I put Transmission
Reply 7
Original post by Drilla1
I think I put Transmission
That was not an option it was signalling
Reply 8
Please list all the questions you remember so I can create an unofficial mark scheme
Reply 9
i also put signalling
I'll do 6 markers:
Explain how market forces of supply and demand affect oil prices
Evaluate importance of PED for consumers
Analyse making a profit is important for Ben and Eve
Evaluate why competing efficiently is important for Ben and Eve
Using a diagram, analyse the effect of a upwards movement along the supply curve
Evaluate the benefits of specialisation on the hotel
Did anyone else get £3125 for the interest
Reply 12
What did people get for the consumers reduce demand in response to an increase in price mcq? I think I got it wrong by putting transmission of preferences from consumers to producers, should it have been a sign of an efficient market?
(edited 1 month ago)
Reply 13
Original post by Mrgrade9z
Did anyone else get £3125 for the interest

yeppp i got that
Reply 14
What letter did you guys put for the multiple choice about changes in equilibrium
Reply 15
Original post by Ahm4
What letter did you guys put for the multiple choice about changes in equilibrium

Z.
Original post by Ahm4
What letter did you guys put for the multiple choice about changes in equilibrium


I put z
What did you guys say for the movement along a supply curve?

I said that QD decreases and Price increase, but cause ped is inelastic his revenue increase overall.
It said upwards movement so I put qd shifts right and price rises
Reply 19
that's what i was arguing with my friend about - I put that the movement in supply must have been caused by an increase in demand, but my friend argued that they increase prices and create excess supply but still make more revenue because of inelastic demand. I can see how my answer could be considered false but shouldn't both answers could?

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