Hello Mark, I was told that for positive consumption externalities, labelling must include S=MSC=MPC. If a student labelled MSC=S or MSC=MPC or just MSC, mark will not be awarded, is this true? In the textbook by Blink, it does not labelled as S=MSC=MPC...
Sample 3aHi, just a comment: it would be beneficial to include also this video by EconDal (https://www.youtube.com/watch?v=qowvXCwDBtI) as it deals with the positive externality of consumption and solving it by granting the subsidy on production, expressing...
Unit 2.8: Merit goodsThere is one by EconDal: https://www.youtube.com/watch?v=6XO8O4szNj0 I showed it to make students in the class because it may appear on...
Unit 2.8: Demerit goods / negative externalitiesthanks for the reply. Yeah, I'm grading some atm and I feel like only 1 example shouldn't give them top marks.
Mark scheme Q11 (unit 4.2-4.3)Andres, the standard format for answering part a questions to focus on two areas/policies. Given that the question was about trade protection it makes sense to address two different types of trade protection. I chose tariffs and quotas and so the...
Mark scheme Q11 (unit 4.2-4.3)For part a, would it be enough to use just one diagram (tariff, for example)... Or does the question imply to use at least 2 measures?
Mark scheme Q11 (unit 4.2-4.3)Hi Anna, Thank you for your point. I think you're right - import limits on vapes would reduce supply and raise prices, reducing quantity demanded. This could certainly be included in an answer. Kindest, Alex
Paper 1 real world example: Market failure in the vaping market.May I ask whether these regulations all affect the demand side of the market or some of them (e.g. controls over imported products or allowing vapes to be sold through pharmacies) also affect the supply side?
Paper 1 real world example: Market failure in the vaping market.Thank you Andres, they have now been added.
Paper 3 question on tariffs and quotas
Kristína
Hi, for Question 10 - a) part, A suitable diagram showing the unregulated market for public access goods should be included. Would it be useful to use negative externality of production or consumption diagram? Thanks. Kristina
Unit 2.9: Economics of the environment and public goods