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A2 ECONOMICS: Guess Paper-4

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the link you posted is very complicated to approach. It takes much time to reach the related question.
Just let me know question number June 2002 second variant. I have the hard copy with me and I can easily locate that. Others will also use the same policy.

Question 12 p3 2002 M/J
 
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but sir I remember the question stating public sector nurses,so why would an imperfect market structure explaination be required?I wrote about the mrp theory,labour supply of individual and to firm with supportive diagrams.Chose not to write about trade union because I thought it wasn't required.I concluded by saying that the the wage difference is unfair as wage depends upon mrp. I know its not a level 4 answer but sir,according to you how many marks will I get?
Dear you were to relate MRP with trade unions etc by explain how wages are different in two situation. You were to use the same graph showing MRP wages and trade union's wage rate. Any way it depends upon your explanation and examples as well. But as per you have mentioned its very lesser explanation to get good marks. I think he will award you around 9-10 marks. But you need not to be disappointed. Focus on p3 because what is done cannot be changed. So, cover this deficit from p3. I wish you best of luck for upcoming paper.
 
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Question 12 p3 2002 M/J
12C decreasing returns to scale means cost is increasing more than the rise in output.
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Average product is continuously decreasing.
 
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Dear you were to relate MRP with trade unions etc by explain how wages are different in two situation. You were to use the same graph showing MRP wages and trade union's wage rate. Any way it depends upon your explanation and examples as well. But as per you have mentioned its very lesser explanation to get good marks. I think he will award you around 9-10 marks. But you need not to be disappointed. Focus on p3 because what is done cannot be changed. So, cover this deficit from p3. I wish you best of luck for upcoming paper.
oh,as for the other question,I did the efficiency question.In that I explained economic effiiciency with allocative and productive efficeincy with diagrams.Showed a perfect market structure and imperfect structure and explained that efficiency may achieved with the profit motive to keep costs low but in the long run may lead to inefficiency because of monopoly or oligopoly strucutre.Again drew the diagram and showed the ineffiiciency. Stated that govt intervention could increase costs of firms by minimum wage rate so efficeny may be difficult to achieve.Explained the contrast between and public and private sector with market failure as an example.Drew negative externality to show over production and ended saying govt intervention is needed as consumers may be exploited.I hope Ill get more here sir?
 
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oh,as for the other question,I did the efficiency question.In that I explained economic effiiciency with allocative and productive efficeincy with diagrams.Showed a perfect market structure and imperfect structure and explained that efficiency may achieved with the profit motive to keep costs low but in the long run may lead to inefficiency because of monopoly or oligopoly strucutre.Again drew the diagram and showed the ineffiiciency. Stated that govt intervention could increase costs of firms by minimum wage rate so efficeny may be difficult to achieve.Explained the contrast between and public and private sector with market failure as an example.Drew negative externality to show over production and ended saying govt intervention is needed as consumers may be exploited.I hope Ill get more here sir?
yes its very nice. Well done. I think you must have explained the concept of deadweight loss and the role of government as refree for a game of support where it ensures that the element of fairness is there.
 
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oh,as for the other question,I did the efficiency question.In that I explained economic effiiciency with allocative and productive efficeincy with diagrams.Showed a perfect market structure and imperfect structure and explained that efficiency may achieved with the profit motive to keep costs low but in the long run may lead to inefficiency because of monopoly or oligopoly strucutre.Again drew the diagram and showed the ineffiiciency. Stated that govt intervention could increase costs of firms by minimum wage rate so efficeny may be difficult to achieve.Explained the contrast between and public and private sector with market failure as an example.Drew negative externality to show over production and ended saying govt intervention is needed as consumers may be exploited.I hope Ill get more here sir?

The efficiency question ....was exactly the same as ques. 6 from the Guess paper by sir Qamar Baloch...but just combined (a) and (b) to one whole 25 mark question! =)
 
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yes its very nice. Well done. I think you must have explained the concept of deadweight loss and the role of government as refree for a game of support where it ensures that the element of fairness is there.
sadly I couldn't explain deadweight loss because didn't have much time.On the whole how many marks do you think I should get sir?
 
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The efficiency question ....was exactly the same as ques. 6 from the Guess paper by sir Qamar Baloch...but just combined (a) and (b) to one whole 25 mark question! =)
do you have the answer,if you do,could u please post it here.Also do u remember your section A answers?
 
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Well I will try to attach it =)
hey its okay,don't want to bother you.The paper is done now and there is no point contemplating on what could have happened.Will just concentrate on p3 now.
thanks anyways
 
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2pac: here you go..
thanks a lot,wish I could have read this before the exam.Nevertheless,I think I managed to write the core concepts and compliment them with them with the appropriate diagrams.
 
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