Economics AS - p2

[Raja23]

Hey guys! how did you find p2? section A; last part for 6pts was a nut cracker! and which essays did u choose? i chose 4) expenditure dampening stuff! but most if not everyone from my class chose number 3 about merit and demerit! lol

 

[Junaid Malik]

I chose the last one as well

 

[Raja23]

Awesome bro!

 

[panpan101]

I chose Demerit and Merit goods. There was a dilemma though! between no.3 and no.4. And for Data Response... The 6 marks question... not sure bro

 

[Raja23]

Hey man! Hi5! I really ha to choose between 3 and 4! But believed 4 had more to write for part b! Anyways we'll see the other papers treat us! Goodluck yo

 

[panpan101]

Good luck for paper 1 on the 12th!! Hope the thresholds will be low again

 

[MUB]

hey guys can you help with the question no. 3a of section B...please take a little bit of your time and read this
3a) explain the difference between merit and demerit goods with diagrams
so this is what i wrote basically ( i will be writing in short forms )
Defn. merit goods
defn. of demerit goods
Stating that merit goods are under consumed due to the lack of information (and stating that the external benefits are not registered in the account by the consumers)
stating that demerit good are over produced due to the lack of information. ( and also stating about the external cost that is not taken into account by the producers)

however, this is where i have gone wrong, i have explained the above property of de merit goods like this.
1)since the producer does not have to pay the external cost , the government intervenes and imposes taxes (shifting the supply curve to the left ) and correcting the quantity to the amount that should be produced ...however before govt. intervenes the de merit goods are overproduced .(also showing the amount of tax imposed )
and i have explained the under consumption of merit goods similarly like the overproduction of demerit goods.
^ i know i am wrong .... but i would like to know whether i can get at least a 4 out of 8 ( or maybe a 5)
sorry if anyone feels annoyed for any reason. thank you

 

[Muhammad Haris Ghani]

Hey guys! how did you find p2? section A; last part for 6pts was a nut cracker! and which essays did u choose? i chose 4) expenditure dampening stuff! but most if not everyone from my class chose number 3 about merit and demerit! lol

Have you appeared for AS physics

 

[Muhammad Haris Ghani]

anyone who appeared for AS physics

 

[panpan101]

Hi! MUB, I think you are able to at least gain 4-6 marks from definitions and stating the reason it's under/over consumed.

I wrote:
-Definition of merit goods
-Why it is under produced and under consumed
-Examples (Education and Inoculation)
-Associated with positive externalities
-Graph for negative externalities (MSC curve)
-Graph for underconsumption of Merit goods (Demand Curve)

And vice versa for Demerit goods.

 

[panpan101]

Graph for Positive Ext*

 

[Lostsoul]

What var did you guys do?

 

[Lostsoul]

What var did you guys do?

 

[MUB]

Hi! MUB, I think you are able to at least gain 4-6 marks from definitions and stating the reason it's under/over consumed.

I wrote:
-Definition of merit goods
-Why it is under produced and under consumed
-Examples (Education and Inoculation)
-Associated with positive externalities
-Graph for negative externalities (MSC curve)
-Graph for underconsumption of Merit goods (Demand Curve)

And vice versa for Demerit goods.

thank you.. for your opinion

 

[stubborn angel]

HI.....
ahmm i am takng busns in as but m confuse abt economic can anyone suggest me ?? should i take economic or nt coz i neva studied eco before thtz y m confuse...is it easy ???

 

[princess787]

hey i chose the same question in sect B! thou i did find section A quiet challenging! and ya i gave my phy prac!