A2 ECONOMICS: Guess Paper-4

[Qamar Baloch]

InshAllah thankyouu soo much Sir

welcome dear

 

[Echelon94]

firm is operating be,ow its minimum efficient scale. I think you have posted just one question where is Q2, and 3?

Sir it asked which option is NOT correct

 

[Qamar Baloch]

nope Sir, the correct option is C for the question on the left & A for the question on the right

I am talking about The graphical question regarding LRAC. below minimum efficient scale is the correct option. Other questions are not visible and I cannot see.

 

[Echelon94]

I am talking about The graphical question regarding LRAC. below minimum efficient scale is the correct option. Other questions are not visible and I cannot see.

yes the answer for the graph question is C (not B).
This is the other question:

If they are still not visible, they are Questions 1 & 23 of November 2011 Variant 33

 

[mariam_anwar]

well done

Sir assess main advantages and disadvantages dono dain gaye na ??

 

[mariam_anwar]

Thankyou for emailing the answers mariam_anwar

My Pleasure !

 

[mariam_anwar]

Sir in data response govt policies regarding forign investment main
interest rate policy and fiscal policy sai haina ??

 

[WaleedUQ]

Sir in data response govt policies regarding forign investment main
interest rate policy and fiscal policy sai haina ??

Question asked about any goverment policies
it could be monetary fiscal or supplyside.
I picked supplyside and fiscal

 

[WaleedUQ]

Actually Sir the question came on wage differentials not labour market imperfect.
Your mark scheme for q5 is based on labour market imperfection.
The existance of monopsonist and trade unioun and national minimum wage is due to LABOUR MARKET IMPERFECTIONS.
But today the examiner asked why the wage between 2 occupations are different.
He was infact asking about wage differential

economics theory of labour is theory of mrp.. which assumes a perfect mobility and homogeneity of labour but real world is far removed from this and suffers the following differentials
segmented labour market
human capital
dual market hyphothesis
discrimination
Relative quality and risk associated with the job
and in the end due to market structures..

 

[hychristine]

Actually Sir the question came on wage differentials not labour market imperfect.
Your mark scheme for q5 is based on labour market imperfection.
The existance of monopsonist and trade unioun and national minimum wage is due to LABOUR MARKET IMPERFECTIONS.
But today the examiner asked why the wage between 2 occupations are different.
He was infact asking about wage differential

economics theory of labour is theory of mrp.. which assumes a perfect mobility and homogeneity of labour but real world is far removed from this and suffers the following differentials
segmented labour market
human capital
dual market hyphothesis
discrimination
Relative quality and risk associated with the job
and in the end due to market structures..

with that 2 occupations u should related to transfer earnings and economic rent in that essay

 

[hychristine]

can't find the mark scheme for june 2002 though

 

[MnMz]

can't find the mark scheme for june 2002 though

Let me check

 

[Paradoxical]

I have the mark scheme for June 2002 in a book, I can quickly type it up if you can't find it online? Let me know.

 

[MnMz]

hychristine: http://www.alevelhelp.com/economics-2002-mayjune/
Page 37 =)

 

[MnMz]

I have the mark scheme for June 2002 in a book, I can quickly type it up if you can't find it online? Let me know.

It's okay...I posted the link...

 

[Qamar Baloch]

Sir assess main advantages and disadvantages dono dain gaye na ??

yes

 

[Qamar Baloch]

Sir in data response govt policies regarding forign investment main
interest rate policy and fiscal policy sai haina ??

g bilkul you will have to describe taxes, subsidies, interest rate policies etc which are the tools of fiscal and monetary policy.

 

[MnMz]

Qamar Baloch
http://www.alevelhelp.com/economics-2002-mayjune/
Page 23
Ques. 12
I dint get it...

 

[Qamar Baloch]

Actually Sir the question came on wage differentials not labour market imperfect.
Your mark scheme for q5 is based on labour market imperfection.
The existance of monopsonist and trade unioun and national minimum wage is due to LABOUR MARKET IMPERFECTIONS.
But today the examiner asked why the wage between 2 occupations are different.
He was infact asking about wage differential

economics theory of labour is theory of mrp.. which assumes a perfect mobility and homogeneity of labour but real world is far removed from this and suffers the following differentials
segmented labour market
human capital
dual market hyphothesis
discrimination
Relative quality and risk associated with the job
and in the end due to market structures..

you are true dear but you must keep in mind that differential in wages occurs due to imperfection as well. While in case of MRP theory wages are identical. So, if anyone has explained monopoly, monopsony, bilateral monopoly, minimum wages, maximum wages then they have done well. Differential occurs when people are the part of monopoly trade union or they are striving on their own.

 

[2pac]

you are true dear but you must keep in mind that differential in wages occurs due to imperfection as well. While in case of MRP theory wages are identical. So, if anyone has explained monopoly, monopsony, bilateral monopoly, minimum wages, maximum wages then they have done well. Differential occurs when people are the part of monopoly trade union or they are striving on their own.

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?