If so, the idea to cap prices would not only stop that but also benefit the consumer. Personally, I was taught to allocate 17 or 18 minutes to writing the 10 marker and 28 or 27 minutes for the 15 marker. Products in an oligopoly are normally however, not in electricity market differentiated. I will defiantly spend more time here and hopefully learn a lot. That could negatively affect investments in research and development possibly deterring improvements in efficiency.
However, in the electricity market consumers sign fixed-term contracts with suppliers. You should finish your part A essay in 18 minutes maximum, and your part B essay in 27 minutes maximum! My approach to Paper 1 was inspired by this. Do a lot of practice before walking into that test. So how does the theory work? In this case, firms are increasing charges in order to keep abnormal profit maximum. We make it extra easy for you! Remember, a hypothetical example is always better than no example at all, but a real-life example will always beat a hypothetical example! Notice anything different between boundaries 2 and 3? These possible complications 2 allow suppliers to increase the price virtually without losing clients.
. Your ability to explain that consequences happen in different time frames is a very good evaluation skill. So, you have a Paper 1 question made up of Part a and Part b , how do you tackle it? It shows the examiner you're well read in economics and you know what you're talking about. With this, fool proof, examiner-friendly acronym that I credit my former Economics teacher for brining to our attention. In this way basically debating with ourselves we can explore the strengths and weaknesses of the theory and make an informed conclusion.
This is applicable to both the 10 mark question and 15 mark question Looking for some more studying tips? Thirdly, the market would be allocatively efficient. We recommend a strategy of assessing every topic upon completion, right throughout the two year diploma. Ask them where it was that you did well and take that into account for your next practice. Show that you understand that policy decisions are complicated. Unsure as to what I would do without these posts as a guide. So, you finished your Paper 1 Part A essay worth 10 marks, where you. Thank you already for helping me.
Firstly, it should stop oligopolies from colluding as they would not have the possibility to increase charges. Tell us what the diagram shows, in general. You need to go more simple than that. If you can make this stuff make sense to such a person in the time allowed you're a rock star. These are available in our specially protected areas that can only be accessed by teacher members — safe from the prying eyes of students! This will be required about 50% of the time.
This subreddit is for all things concerning the International Baccalaureate, an academic credential accorded to secondary students from around the world after two vigorous years of study, culminating in challenging exams. So this article will serve as a kind of extension to a previous article I wrote which you can access through this. Company A produces luxury goods. Ok not beautiful but just make them big. Just today I was talking with another friend of mine who, I just found out, also happens to be following your blog. Use key words from the question to indicate to the examiner that you know your stuff.
So for example in this question, the three that you would pick that would make sense would be the government, consumers, and producers of cigarettes. Or perhaps there is something else unrealistic about the theory. Finally, there are rather high barriers to entry. Which would you realistically want to maximize right? After a firm notices that competitors have increased prices and consumers did not migrate, it starts to charge more as well. All are readily downloadable and ready to be printed.
It is such a great help to have word counts of different sections and a detailed description on how to score high marks. It might be the same one you used in Part A. So how do we approach this? I find it absolutely incredible that you take the time to answer students and write your posts. Choose an area of assessment below Coming soon! If you do include a diagram do it like this: Explain the diagram. If I was at it would be a pleasure to have you as my Econs teacher! Part A2: Draw and explain a diagram Draw the diagram which will best help you to answer the question. Part A 18 minutes Part A1: Definition and real life example Definition: Define a key word in the question Definition: Define either another key word in the question if there is another one or a related key word Definition: Define either another key word in the question if there is another one or a related key word Real life example: Briefly explain a real life example. It suggests that if a firm increases the price, competitors will not follow and that firm will lose revenue as consumers will migrate to another supplier.
I've found it extremely helpful and I cannot thank you enough! So how would you go about doing this? This is because for the 15 mark question, you need to add an evaluation. For example, paper 1 usually has at least one theory of the firm question each year. Depending on how fast you write, you could split it into a 15 minute and 30 minute arrangement; 15 minutes for the 10 marker and 30 minutes for the 15 marker. Wishy-washy vague explanations are not very helpful! Matter of fact, this really is the only way to do it. For example, implementing theories has unintended consequences i.