Bees don’t just make honey! Feedback on exam practice.
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Transcript of Bees don’t just make honey! Feedback on exam practice.
![Page 1: Bees don’t just make honey! Feedback on exam practice.](https://reader036.fdocuments.us/reader036/viewer/2022082612/56649ea25503460f94ba5fc5/html5/thumbnails/1.jpg)
Bees don’t just make honey!
Feedback on exam practice
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Aims of Revision Guide
• For you to understand the exam board marking criteria – so that you can boost your marks/grades.
• To further your understanding of K, Ap, An & Ev skills needed
• To show you the range of terminology that you have covered and NEED to use in your answers!
• Essential to include diagrams where relevant!
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1) “As a result almond prices are soaring to over $3 per pound.” With reference to the data and using a supply & demand diagram, explain why this happened. (7 marks)
• Diagram…. Must show • original equilibrium (1) • Inward shift in S (1) • New equilibrium (1) • Movements on axis (-1 if not present)
• LABEL ALL CURVES! – no labels = no marks!
Worth 3 marks
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1) “As a result almond prices are soaring to over $3 per pound.” With reference to the data and using a supply & demand diagram, explain why this happened. (7 marks)
• Explanation…. Must explain why prices rise – using ec theory …
• Too much waffle – re-using case study story
• Ec theory
• Market shortage: show on diagram
• Consumer surplus: show on diagram
• Ec pressures due to shortage means that prices do rise!
What does this look
like?
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2. Comment on the likely elasticity between almonds and hazelnuts. (4 marks)
• Cross price elasticity – identify key elasticity & define/formula (1)
• Substitutes for each other (1)
• Positive elasticity (1)
• Because – written explanation ideally using ‘numerical’ example… (1)
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3. What can you learn from the passage about the price elasticity of supply for crops? (5 marks)
• PeS formula or definition (1)
• Inelastic PeS (1)
• Reason … because …(1)
• Diagram showing an inelastic S curve – show the effect (1)
• EVALUATION…. 2 marks…. • Time it takes to recover from the mite – might
make the PeS more inelastic• Impact of mite on industry in long run – if bee
keepers
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4. Assess the likely impact of the rise in price of almonds for consumers of confectionary products. (10 marks)
• What do you think ‘assess’ means?
• …to what extent will there be an impact????
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4. Assess the likely impact of the rise in price of almonds for consumers of confectionary products. (10 marks)
• Impact = higher costs (1) which will be most likely passed onto consumers as higher prices (1)
• Derived demand – not many people D almonds – but they are needed for other goods – i.e. complementary link between the two goods.
• Impact on D for hazelnuts (1) – show on diagram, D(3)
• Impact could be a substitution effect (1) as consumers swap to alternative products
• and/or an income effect (1) if they continue to consume … but lesser quantities (1)
Knowledge & Application = 6 marks max
Evaluation = 4 marks
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4. Assess the likely impact of the rise in price of almonds for consumers of confectionary products. (10 marks)
• Reference to consumer surplus (1) and diagram (3)
• Reference to producer surplus (1) and diagram (3)
• Or higher costs may be absorbed by the business and a fall in profits (1) for the businesses, which could mean an incentive to work more productively efficient (1) – or cut back on other costs e.g. labour (1) – so the price might stay the same….
Knowledge & Application = 6 marks max
Evaluation = 4 marks
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EVALUATION
• Depends on the PeD elasticity whether consumers would react to the change in price, whether the brand name/customer loyalty will help/advertising
• Depends on the YeD – whether a normal or luxury good
• Depends on how easy it is to substitute almonds in the recipe!
• CPeD diagram… depends on the elasticity and how close other substitutes are (hazelnuts)
• Depends on the level of competition in the confectionary market …
• Depends on the frequency of the purchase of the good – links to elasticity PeD & YeD
4 marks – need to show judgement – assess the impact……. (2 marks per
comment developed)
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5. Evaluate two other likely consequences of the spread of the varroa mite in bees. (10 marks)
• Increase in mite = needs more investment in ‘cure’ – an increase in cost which further reduces S
• Possible extinction – need to look at alternatives
• Increase in the price of hives rentals – due to increase D – a further increase in costs – less incentive to S honey! (Diagram…) CPeD – complementary products.
• Less bees = less honey
• Less cross pollination for other crops – mainly fruit – means more imports into the country
• Increase in investment in scientific research to find cure.
Knowledge & Application = 6 marks max
Evaluation = 4 marks
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6. Assess the likely success of a state subsidy for honey production (12 marks)
• Up to 3 marks for a written explanation
• 1 mark per relevant point + 2 for development
• 3 marks for relevant diagram
• 6 marks for evaluation
Knowledge & Application = 6 marks max
Evaluation = 6 marks
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6. Assess the likely success of a state subsidy for honey production (12 marks)
• Subsidy = increase in supply (1)
• Diagram to show this (3)
• Relevant points include
• Income for beekeepers to invest in replacing bee stock/hives
• Subsidy will help them ‘cover’ the increase in costs
• Might encourage new beekeepers – increase supply
Knowledge & Application = 6 marks max
Evaluation = 6 marks
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6. Assess the likely success of a state subsidy for honey production (12 marks)
• Evaluation issues…• Opportunity costs – is it right to
subsidise the beekeepers or should the govt invest in scientific research?
• If no cure a subsidy won’t help as bees will eventually be extinct!
• How likely is it that new beekeepers will start up in business - very specialised work.
Knowledge & Application = 6 marks max
Evaluation = 6marks
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Overall – key skills
• You need to start with definitions or formulas more!
• Vital to label diagrams clearly/accurately.
• Must read over the elasticity issues – its not just the calculations but application as well.
• Evaluation marks – to gain B & A’s.
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A*’s for the future
• In your 1st exam – you need to get into the 80% UMS this year in both papers
• In A2 – need to be in the 90% UMS boundaries
• RESIT marks don’t count for an A*!