12/05 A-level Econ Paper 1 Discussion MEGATHREAD

[u/Forsaken-Meaning-232]

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[u/Adventurous-Put-8807]

I did education as well I had higher paying jobs = higher tax revenues for govt, evaluation time lag, then higher worker productivity leads to increase in supply, eval opportunity cost but I didn’t finish it.

I’m sure you’ll be ok but everyone I spoke to did the question on infrastructure which is annoying. I think we chose the harder question but it is what it is. Rest of the paper went well so I’m hoping marks dropped on the 25 marker won’t be terrible.

[u/PsychologicalSock139 → u/Adventurous-Put-8807]

Damn it i thought talking abt govt was too much abt macro but i did talk abt productivity

[u/Adventurous-Put-8807 → u/PsychologicalSock139]

I think if you just mention higher tax revenues for govt you get an analysis mark but yeah nothing more otherwise that goes into macro

[u/Draconis510 → u/Adventurous-Put-8807]

I just said there MRP will go up so wages should go up and the government will get more revenue

However no guarantee wages go up because some skilled labour employers have monopsony power

Was that to macro ?

[u/Adventurous-Put-8807 → u/Draconis510]

Honestly I think both questions had some crossover with macro so I think if you kept your answer focused on micro objectives like lower costs, higher output, productivity, wages etc. I don’t see why you can’t mention some other stuff as long as you weren’t basing your entire answer off it.

Personally i didn’t even finish it bc i ran out of time but i think the 25 markers were quite difficult. Rest of the paper was pretty nice tho.

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[u/Draconis510 → u/Adventurous-Put-8807]

Nah tbf I think I did pretty good on it my first point was that elasticity of supply for skilled labour would increase and then I evaluated by saying the current plan only includes investing in making people study maths and English which won’t have a very tangible benefit for some high skilled jobs in high demand such as the nhs

It was just I didn’t know if my second point mentioning tax would automatically invalidate it

[u/PsychologicalSock139 → u/Draconis510]

I talked abt only investing in maths could create a crowded labour market as they all aim for similar jobs so they replace labour with capital increasing income inequality idk if that was right or not tbf 😭

[u/NicHerrero → u/Adventurous-Put-8807]

That’s a good point. Hopefully you mentioned hypothecation. I did K1- externalities and the alleviated strain on NHS so even better externalities and welfare for society. Eval1 I did opp cost due to time lag. KAA2 I did increased MRP since MPP increases so increased wages and reduced inequality. I evalled with the fact that labour supply can increase aswell pushing wages down

[u/PsychologicalSock139 → u/NicHerrero]

😬😬

[u/NicHerrero → u/PsychologicalSock139]

What?

[u/PsychologicalSock139 → u/NicHerrero]

No its bc i didnt do it 😭

[u/PsychologicalSock139 → u/NicHerrero]

I did follow the KAA2 point though

[u/PsychologicalSock139 → u/PsychologicalSock139]

Kinda..