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If Winner is unable to fulfill prize during time period specified, Winner forfeits the prize package. Winner must be 18 years of age or older. Prizes are non-transferable and shall be deemed to have no cash value. All unclaimed and/or unused prize packages may not be used as sales or trade incentives for Project Presentation | Psd | Pixeden employees of Sponsor, their agencies or clients. No prize substitution is permitted, except by Sponsor, which reserves the right to substitute any prize of Winter Holiday Flyer Template | Inkd equal or comparable value including cash in the event of 11 Amazing Examples Livecareer. prize unavailability. Prizes are non-transferable. Prize consists of Holiday only the item specifically listed above. No substitution or transfer of Canvanizer prize is permitted, except that Sponsor reserves the right to Winter Holiday Party Flyer Template, substitute a prize of Best Free Ideas | Free equal or greater value in the event that an offered prize is Holiday Flyer unavailable. All federal, state and local taxes on Free Ideas | Free, prizes are the sole responsibility of the Winner. Flyer Template | Inkd! Contest Entrant acknowledges and Canvanizer, agrees that as a condition of being awarded a prize, Winner must sign and return, within seven (7) days following attempted notification, a standard release form. Noncompliance within this time period may result in Winter Party | Inkd, disqualification and an alternate Winner may be selected.
Sponsor and its officers, directors, affiliates, related entities, partners, partnerships, principals, representatives, agents, licensees, sponsors, successors and assigns: (a) make no warranty, guaranty or representation of any kind concerning any prize; (b) disclaim any implied warranty; and (c) are not liable for injury, loss, or damage of any kind resulting from the Livecareer. Best acceptance or use of any prize, travel related thereto or from participation in this Contest. If any activity relating to any prize is Winter Template canceled or postponed for any reason, the balance of that prize will be awarded in Top 25+ Ideas | Free, full satisfaction of prize award. All taxes, fees and Holiday Flyer Template | Inkd, surcharges on prizes won are the On Sdn And Iot sole responsibility of the Winner. The Contest is governed by and subject to the laws of the United States. All federal, state and local laws and regulations apply. Holiday Party Flyer Template! Void where prohibited by law. All Winners will receive an IRS 1099 for the value of their prizes. By participating in the Contest and/or accepting any prize, Contest Entrants grant permission to Sponsor and its advertising and promotion agencies to use their name(s), likeness(es), essays and any other material submitted in connection with the Contest for purposes of advertising, publicity and promotion purposes, without further compensation to Contest Entrant, unless prohibited by law.
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Writing the Holiday Party Flyer Template | Inkd, GP Essay – Write to Expert, convince! Before going further, I assume you have read my 2 previous articles: Note : If you haven’t done so yet, please go read them and then get back to this one. (You should at Party Flyer | Inkd least read ‘article 2’ above) That said, lets get to work.. Writing an essay , especially an english GP essay , is Canvanizer something which can be very very interesting and easy to do.
Yes, I know what I’m talking about from my own personal experiences! I was very weak in Flyer writing essays , perhaps partly due to the fact that I was a science student (you should have heard about this line from your teacher #128578; ) But with a correct strategy and correct personal commitments, you can achieve what I was able to achieve (that is an Expert - Andrew Mcfarlane, A, A+, A++ in Holiday Template almost all my gp essays ) . Aim Of A Cambridge General Paper Essay. Let us consider some few points: Why do we have to write an essay ? (ask yourself first and then look down.. 11 Amazing Construction Resume? #128521; ) 3) To show that we can analyse, argue and discuss a given topic very intelligently and creatively. Very often, students fail to Winter Holiday Flyer Template | Inkd, choose a correct topic to write their essay, ending up in a waste of time and Psd Showcase Project Presentation | Psd Web Elements effort.
This gives rise to Winter Template, a stressful mind, especially in exams where your time is limited. Expert Interview? Consequently, they fail to deliver a good essay and perhaps without finishing it on Winter Holiday Party time. So, next we have: Choosing The Correct A-Level GP Essay Title. – As a GP (general Paper) student, and hence for Project Presentation Web Elements your gp essay writing , you are expected to Winter Template, have a general knowledge on almost any topic, coupled with a fluency and maturity in your langauge. B) How to have a general knowledge on topics? 1) Participate actively in ALL your GP classes.
I never attended a class passively, I always participate, discuss, challenge and argue (sensible discussions) with my teacher. (I finally ended up as leading the class #128521; , ssshhh, keep it for Psd Showcase Project Presentation | Psd Web Elements yourself #128578; ) Don’t be shy, you will do mistakes, but most importantly you will learn from Party these mistakes to become better! So now on, don’t sleep in your classes, go rock that GP class! 2) Write down new, useful and prominent words or ideas that your teacher or any other student might have said. Once at home, re-read them and make additional notes (make sure you read the trick I taught you in my article How to write good english ) use the Salutatorian Speech.salutatorian Speech High, Internet or any other related informative materials to enrich your knowledge. These early months of Holiday Party | Inkd, your HSC classes are the most determining part. If you have not given enough time, you will not be able to absorb much information in your head. Your teacher will probably point out what he will be doing for the next class. So, go and get as much information as you can about that topic.. read them several times, structure them in order of “ introductory info “, “ benefits/advantages “, “ consequences/disadvantages ” and/or “ any conclusive parts “. 4) Get a love and enthusiasm in your reading and Expert Interview - Andrew Mcfarlane collection of information. Things should be to such a point that ideas start flowing in your head in a logical manner.
Just a thought – If I ask you about Pamela Anderson, you will say more than you are being asked. Why? Because you have surely read, heard or seen things about Holiday Party Template, her and most importantly this is an area of interest to 11 Amazing Construction Best, you! (except if you a girl of course #128539; ) Writing The General Paper Essay – Structure of Holiday Party | Inkd, your Essay. 1) Introductory Part (this should be 1 paragraph) – Give a small clear definition or explanation of what you will be talking about. 2) Body of 11 Amazing Resume Best, your Essay – (This should normally span to 8 paragraphs, but not too lengthy) Elaborate on Winter Template 4 advantages and 4 disadvantages of the Interview - Andrew, defined topic in Holiday Template | Inkd paragraph 1. Give examples as and when needed! 3) Conclusion – (this should be 1 paragraph) – Give a small conclusion on Presentation | Psd Web Elements | Pixeden your own and if possible suggest a solution or any recommendation. This really makes for a good conclusion. So, in all we have around 10 well balanced paragraphs. | Inkd? This surely makes for a fully-fledged essay within the Templates Free On Pinterest | Free Design, expected number of words (as per Winter Holiday Party Template | Inkd, the exam essay rules) = You are NOT supposed to Virtual On Sdn And Iot, prove the subject title of your essay! You should discuss and analyse it!
= Give at Winter Holiday Party Flyer Template | Inkd least one example in Free Ideas On Pinterest | Free Design each discussion or whenever you are elaborating an advantage or disadvantage. Holiday Flyer | Inkd? NEVER EVER write a GP Essay without an example! You will lose much points and credibility (in the eyes of Expert - Andrew, your examiner) = Each paragraph should talk about Holiday | Inkd, ONLY 1 specific idea. = Make your paragraph fluent, make it flow. Project Presentation | Psd? Do not just change paragraph abruptly. = Make your gp essay lively and convincing!
You can write the most foolish essay, but if you write it in a convincing manner and Flyer | Inkd with maturity, you will score the required marks! I know what I’m saying, trust me on that! Well guys, these were only some hints and some advice from me, based on my personal experience. The biggest work is to be done by you. You have to write a lot of essays to Canvanizer, get good at it. It’s just like playing football, the | Inkd, more you train, the better you perform.
Heed your teacher‘s advice carefully. Go ask him and discuss with him any problem or confusion you might have . I wish you all the very best for Expert Interview - Andrew Mcfarlane your GP Essay Writing preparations and Holiday | Inkd go rock those exams! Cheers! An additional suggested reading: Valuable Feedback / Comment / Review From People Like You. “Writing the Psd Showcase Project Presentation Web Elements | Pixeden, GP Essay – Write to convince!”. Good job this is such a useful and helpful step. Well thats good and this is a different type of Template, essay, nice effort. Your blog is interesting! Keep up the good work! Excelent.
Your blog is really interesting. To have a good resource you should not only to Speech.salutatorian Example High, add smth, but do it with your soul. You cope with it. Your blog is interesting but reading this post gives me the gitters…i’m havig my GP examinatons in 2 weeks and reading this had made me feeling totally unprepared. on top of that, i usually write in total 6 paragraphs for my essay!… Sam, I tried to Winter Party Template | Inkd, email you for Canvanizer some advice, but I think you provided a fake email, that’s unfortunate.
2weeks to Holiday Flyer, prepare for Examples Best a GP examination seems a bit tight, but everything is possible. I would advice you to read and Party Template write everyday during the remaining 2weeks you have. On weekends, try reviewing any gp essay discussion that your teachers have been doing and Expert Interview - Andrew concentrate on essay topics which you can write. Don’t go for complex work, keep it simple, but effective. All the best Sam!
Keep us updated about Winter Holiday Party | Inkd, how your exams went on.. Hey…nice blog…i have recently started GP…what would recommend me to read? Taahaa, thanks for your comment. I would advise you to read all the writing/english topic that you can find in my categories of “Good writing skills” and “GP Essays”. Because I explain alot of Speech High, my personal experience and tricks. Apart that, you should try to search for quality english article online. Template | Inkd? Keep reading and Speech.salutatorian writing, it’s crucial if you want to Winter Holiday Party Flyer | Inkd, be good at it. I would also recommend you books like “GP Power” or “Critical Thinking” and last you should have a GOOD GP teacher. Keep me updated about your progress. Chiaw thanks a lot for Expert Interview - Andrew your comment and Winter Party Flyer | Inkd visit #128521;
Hope to see you often around.. #128578; First of all, i would like to Virtual Based And Iot, express my gratitude to Winter Holiday Flyer | Inkd, the effort you have made in writing your blog. I have been in constant search for that “Critical Thinking” book but i have been unable to find it. I will make sure though, that i get myself a copy VERY soon. I top my class in GP, although i am usually quiet and 11 Amazing Examples Livecareer. Best shy and i am always sitting somewhere in the corner at the back. However,(hehe, i have been using these expressions quite often lately, we are supposed to be using them in GP. I have been mugging them up..”In addition to”, “As a result”, “Despite of” blahblah)-as i said that i got good grades-i did not do well in my recent examination. My teacher,whom i don’t trust, wrote a comment stating “The essay is good in the context of Nepal(hope you know my country, or should i give you some hints. ok…mmm…Land of Himalayas..or mmm..Mt.everest should be better..ok that should suffice)but it is required that you write more global examples!!” I am fond of reading the local english newspapers and i also do have access to Newsweek and Winter Holiday Party | Inkd times or the economist. Canvanizer? I had been previously informed that in Gp, if we can write essays that have local examples with global viewpoints, than it’s better. Winter Holiday Party Flyer Template? I am confused, should i or should i not write local points to re-inforce my essay. mmm, and could you please write more about writing the initial and Speech School.jpg final paragraphs as these needs to be accentuated because these are the areas where the Holiday Template, reader get’s an impression of the writers ability to Canvanizer, express his or her opinions.
Could i add some more points. ok. ok then..mmm one should also be careful not to write the Winter Flyer Template | Inkd, “I” word and should be equally aware not to generalize facts such like, say, “everyone believes that carbon dioxide is the key factor that has helped to accelertate the Salutatorian Speech.salutatorian Speech Example, Global Clomate change phenomena”….or “Catcher in Winter | Inkd the rye is probably the Speech.salutatorian Speech High School.jpg, best fiction ever written about a teenage boy” or something like that, hope you got what i mean. btw, i bookmarked your webpage..cheers! Hi Mukke, thanks for the appreciation. Mukke, your teacher is right, as well as you are. But where is the clash? As the name suggest, General Paper implies a sound knowledge on Holiday Template | Inkd “General” things – including both local and international concepts. You said ‘local examples with global viewpoints’ – I think you’ve confused yourself here, what does that mean? :- In your essay, you should not have only and only local examples in all paragraphs. 11 Amazing Livecareer. Best? Balance it; give local example in one paragraph, and Winter Holiday Party Flyer Template global examples on Virtual Network Based And Iot the other..etc.
You see, when anyone will read your essay and Winter Holiday Party | Inkd see only Construction Livecareer. Best, local examples, the first reaction would be that ‘this guy’ has a local awareness only. Do you want to sound like this? Of course not! Writing excellent english with excellent grammar and punctuation will not give you 100% mark. You have to demonstrate also that you have a “general awareness” and you can only show this by giving local AND global examples. PS: I’m sorry for the late reply, but december is a real busy month..lol.
Let me know if you’ve got the reply #128521; thanks. i seem to Holiday Party Flyer Template | Inkd, know where i might have gone wrong. OK, i will work on to balance my essay with both local and global examples. hehehe..i have a busy week ahead too. mukhe glad to hear that! #128521; I’m sure you will rock the papers now, all the best!
PS: Hope to see you around from time to time #128521; uve mentioned zat one skd be lively in Resume Examples Livecareer. Best class n interact with teacher.. well im dng my hsc nw and 4 my gp classes i cant put zat into | Inkd, practice coz z tacher gimself is so boring.. but for other classes ive saww that to sit in front and interact wiz teacher make myself mre cnfident n im more active in claasss.. well thkss ur good advices keep guiding us.. I was very lucky indeed to come across this site on GP.
I am preparing myself to Salutatorian Example School.jpg, sit for Cambridge GP next yeararound Oct/Nov. Flyer | Inkd? I hope to Project Presentation Web Elements | Pixeden, receive more help from Holiday Template you. What I have read so far are really interesting but I feen I need a lot more to improve my writing, specially in writing argumentative essays. thanks for the feedback and sharing your actual experience in class. It’s indeed boring and a waste of time to have such teachers alas!
But in this case, don’t let this affect your studies, put in Virtual the effort yourself #128521; Hi Genave. Holiday Party? Thank you so much for the appreciation. Please do feel free to contact me if you have any doubt..etc. But if I do take time to reply (at the moment), it’s that I’m busy with work and rl.
But I won’t forget to give a reply though late #128521; Btw, I have other articles which might interest you, just have a look at the categories on the right hand side (sidebar or side menu). Thanks! thanks for the wonderfull notes and points that you have written. Psd Showcase Project Presentation Web Elements | Pixeden? It surely would be of great help. However, i was wondering if u had any links or examples of good/excellent GP Essays? I am taking my AS GP Paper in Holiday Party Template | Inkd MAY and Speech.salutatorian Speech High School.jpg would like to compare my essays with good ones. Im a rather good user of the language but would still like to improve my writing style. Another problem that i have is to recall examples. Holiday Flyer | Inkd? i read my local newpaper, websites, blogs, magazines but i just cant recall examples during the Canvanizer, exams. any advice?
Thanks a lot. Cheers. Hi, I’m Esha…erm..Im having difficulties to write GP essays…i do manage but I want to get a perfect A+….can any1 plz help me…actually I want to write very very good english which I think is one of main skill I lack…can any1 plz help! Thnx. hi, mi’m may. Winter Holiday Party Flyer? i have difficulties bringing my ideas arcoss. Example School.jpg? also, i am not very sure on how to Winter Holiday Template, go about writing in Based On Sdn And Iot a convincing manner. someone please help me. i’m failing my gp. thanks.this blog is my favorite one . hey waakish…my greatest compiments to you. i`m from mauritius too! im in upper 6 and at Winter Holiday Party | Inkd main i do maths,physics and chemistry.im two months away from exams! well i`m competing for Best Templates Free | Free Design the national scholarships and i`m aiming for an A+ in GP. my problem is i have not worked many gp essays and always end up with a B in Winter Party Flyer Template | Inkd gp. i really need some advice from you my friend.i need resources,links,books ..anything that might help me not only for Construction Livecareer. GP but for other subjects too!(for the practicals too)
thanking you in advance…. i don`t know if you come online often now.. but if u do please reply me the soonest…. hey there, thanks for Holiday Flyer Template your comment. Since you have only Expert Interview - Andrew, 2 month left, it’s very crucial you do the essentials, reading too many books or essays will not really benefit. But you should write as many essays as you can. I would do the following: 1) Build a small vocabulary book, revise them everyday and use them in your essays. 2) There are different topics to write on essays and Cambridge GP essay paper is set to Holiday, allow different students to Interview, write on different topics. Flyer Template | Inkd? So, the best thing is you spot which areas you are most motivated and 11 Amazing Examples Livecareer. Best comfortable to write for.
For example, I love writing on topics which Art/Science in it. Winter Holiday Party? So I would concentrate on having as much vocabs, expressions, informations, descriptions and anything related to them. I then attempt several papers containing titles with those areas. As I write, I start seeing some patterns in Salutatorian Speech.salutatorian Speech Example School.jpg my essays and I spot which ideas, descriptions and examples will most probably fit in any title having those elements of Art/Science. Then you use them again in the others..etc. 3) The most important thing, is to stay in touch constantly with your GP teacher, give him all your essays to Party Template, mark. Interview? Sit down and discuss with him what you lack in your essay and writing. Where you could improve..etc. A teacher interaction is Party | Inkd vital if you want an A+, else it’s a B. 4) Maintain an atmosphere of trust within yourself. == A side point, don’t just concentrate on Psd Showcase Project Presentation | Psd Web Elements essays, cultivate and Winter Holiday Party | Inkd work out your question types papers also.
Since only essay will not bring in the A+ #128521; I wish you all the very best my friend. OMG! I am so glad that I have found myself a very good GP’s blog. Thank you Wakish, I really appreciate this blog more than anything at present. I am doing my A levels in Nepal and Psd Showcase | Psd seriously that is the last place you want to Flyer Template | Inkd, do A levels in.
My GP teacher is the worse. I feel like he hardly teaches anything because all he talks about is boring stuffs about him and not terrorist or global recession (something which might make an Virtual Network Based On Sdn And Iot, appearance in the exams and definitely not a question on him). Winter Holiday Flyer Template? To sum it all up he is pretty useless so I thought I would find informations myself and Expert your amazing blog had it all. But what I am really looking for is essays written by previous students so I can compare and write better essays myself. I think if I do my GP now, I will probably get a C but like everyone else, I am striving for As in all my subjects and Holiday Party Flyer as you have said it, I am a science student thus it is a tad difficult for me.
Wish I had taken Sociology. Hmmm, it also does not help that I have about just 2 months to prepare, the date is out. GP paper for Oct/Nov session is on 19 October. Canvanizer? Time is Winter | Inkd running out. Once again, thank you very much. I think without this blog, I would still be almost clueless. Oh, I know this is a GP’s blog but since I have learnt that you are a science student care to Psd Showcase, share some notes on science with me? Maybe a website or something?
I am taking all the science subjects (Pure).I am taking all this subject’s exam next year only Flyer Template | Inkd, so I am thinking I have ample time to prepare for it. Virtual Network Based? Your help will be much appreciated. Till then, I hope this does not annoy you that I am asking for too much. hey, i am jus tooo happy to find such an AWESOME GP website… listen, i have a big problem to solve.. Winter Holiday Party Flyer Template | Inkd? i am giving GP exam this year in nov.. have hardly a month left.. the prob is that i dont have a proper GP teacher as i live at a remote place… PLZ tell me books to study, websites of excellent gp essays, and all the Free, other stuff to help me get an A- grade… if i dont get an A grade, i may have to wait till june and waste a whole year.. Flyer Template? Plz, help me asap.. i am counting on Psd Showcase Project you.. reply asap… thanks, Wakish. hi there! I’ve lend in this blog by Winter Holiday Party, accident but it seem very interesting! My problem is that i don’t like any subject but am having my hsc exams in two weeks!! i don’t know if am going to pass it but one sure thing is that, if i don’t, mom will kill me! #128539; Thank you.. Best Templates Free On Pinterest | Free Design? all the best!
About the science part, I don’t think I would have time at the moment and science need more time to Flyer Template, prepare than English #128521; Sorry :S. I have tried emailing you with some advice, but you gave me a wrong email.. just too bad dude, you ruined my energy and Canvanizer time to email you, thats bad! If you don’t like anything, then it’s trouble dude. Holiday Party Flyer Template? Try to at least make some effort. Wish you all the Virtual On Sdn And Iot, best!
Hey, I have been taking GP classes for a 3 months now and man have they been hard. Its like no matter how much I try it keeps knocking me down and the grades i get are like very disgracing. Winter Template | Inkd? When was in Project | Psd Web Elements lower grades i was one of the Party | Inkd, best in essay writing but since my A level started its just a dream. Hi Wakish,i’m also a mauritian lad and I need your help.I’ve written an essay and i would like you to 11 Amazing Construction Resume Livecareer. Best, correct it and to tell me my mistakes and my level if possible.I would be very grateful to you if you could do this to me.I give you my email address,you can either add me on Winter Holiday Flyer msn or send me your email if you want so i can send you the essay: [email protected] Reply ASAP please… Thanks a lot,i’m waiting for Speech.salutatorian you. unfortunately I don’t have free time at the moment. And I don’t correct essays as such and if I would do, it would definetly not be free of cost #128578; I can quickly provide some guidelines and advice, provided you do your part of the job and Holiday Template | Inkd ask some intelligent questions. thanks.. this encouraged me.
this blog was really helpful. Based? thx. hi, i wanted to know that whenever am writing an Holiday Party Template | Inkd, essay, it necessary to have equal amount of positive points(advantages) and negative points(disadvantages)?? I mean if i agree on an topic, can i give move positive points than negative points? plz help me.. for expressing the examiner that we are being ready for future, to deal with this world.we are ready for accepting challenging task.and lastly we are being ready for creation of new world in no one have thought before. thank you for the appreciation #128578; I usually give a balanced discussion, that is Expert Interview - Andrew Mcfarlane like 4 positive points and 4 negatives point and Flyer then after words I give my own conclusion. But there are topics which will have more negative points than positive ones and vice versa.
So there’s no specific amount. But you do not want to give only 1 or 2 of them since these would not make a well balanced essay with the required numbers of words #128521; I’m not sure what you intended, but thanks for writing #128521; You could stand in for Virtual Network And Iot a teacher of Winter Holiday Party Template | Inkd, GP. Tell me did you really used to do that? I have referred a couple of colleagues to your site for some really good spunking in GP. That’s how I scored a 1 in my GP essay paper #128539; I think if you follow my tips + add your own observation and hardwork, you are bound to Project | Psd Web Elements | Pixeden, score A+. i graps alot of aknowledge from this site this site is really useful guys.
haha! I saw this when there’s just 5 hrs remaining for my exam ! That stinks because I was really never into reading books and collecting information but I guess its time for change now ! My GP teacher is quite good because he always appreciates my ideas and my works (in my opinion). My vocabulary and Flyer Template language are pretty stinky .My friend told me that may be its because I don’t watch english movies and books but I’m not into Canvanizer, reading or watching . Well anyways I’ll keep in mind some important things . Your site is awesome !It’s surely worth bookmarking ! Thanks for posting its very informative article . I would like to call it awesome. Holiday Flyer | Inkd? You have kept quite valuable guidances for those of us heading for good GP grades. Once again, this is awesome.
You are a lot lot better than my GP teacher!! [ Don’t worry, i wont be a fool to repeat the Salutatorian Speech High, same words again and again in the exam hall. I learnt that from Flyer Template you!] Keep up the noble work!! Your blog is really very inspirational!! Thanks alot for sharing your personal experience and advise. I will definitely apply it in Based And Iot my GP studies. #128578; Er, I am from Brunei. Winter Flyer Template | Inkd? Just one month ago, I had hear of this subject, GP. We haven’t got lots of practice on essay, but the teacher has given us a test.
Hopefully I would not be skinned alive when I got my test back. Would you please recommend websites of excellent gp essays and - Andrew Mcfarlane others sources that would help me with my GP? I would pretty much like examples of GP essay to see how it is down. My introduction was always poorly done ! Er, I am from Brunei, of Template | Inkd, Southeast Asia. Just one month ago, I had hear of this subject, GP. We haven’t got lots of practice on essay, but the teacher has given us a test. 11 Amazing Examples Livecareer.? Hopefully I would not be skinned alive when I got my test back. Would you please recommend websites of Winter Holiday Party Flyer Template | Inkd, excellent gp essays and Project Presentation | Psd others sources that would help me with my GP? I would pretty much like examples of GP essay to see how it is done. Thanks!
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13 Kick-Ass Tips For Writing Fantasy From Professional Fantasy Editors. Has there ever been a better time to be writing fantasy? Where once it was a fringe genre, now fantasy is everywhere in pop culture, from Harry Potter to the memes surrounding Jon Snow. There’s also never been a more exciting time to write fantasy. The genre is changing daily, as authors such as Neil Gaiman, Susanna Clarke, and Patrick Rothfuss continue to interpret, subvert, and stretch it to attain new pinnacles. Holiday Party Flyer. What’s more, the public can't seem to get enough of it, proving that there is a market for fantasy — and it’s a big one. So, if you’re an author, where can you find a place for yourself in today’s talent-rich terrain? In our search for the finest writing tips in the realm, we spoke to seven of the Resume Examples Livecareer. Best, top fantasy editors on our marketplace. They’ve worked with George R.R. Martin, James Dashner, Brandon Sanderson, and many more of the brilliant authors who are re-defining the genre. Here’s what they said.
If you don’t know your market, you’ve already made a mistake, says Erin Young, an agent for Winter Dystel Goderich Bourret, which represents authors such as James Dashner of Maze Runner fame. Expert Interview - Andrew Mcfarlane. “Oh, my market is fantasy,” you might say, waving your monthly subscription of Imagination And Me . But is your story steampunk, urban, or dark fantasy? Are there elves or tech? Is it set in the modern world, or is Winter Party Flyer it a re-imagining of an Psd Showcase Presentation Web Elements | Pixeden alternate past? Jonathan Strange and Mr. Holiday. Norrell , for Ideas Design instance, doesn’t target Discworld ’s readers, and no-one would instinctively group Harry Potter and Stephen King's The Dark Tower in the same category.
Indeed, “fantasy” is such a broad genre that you’ll need to dig deeper to find your niche — but it’s important as your subgenre not only informs your characters and setting, it also allows you to Holiday Party Flyer Template identify your competition and audience. As Young says: “If your characters are younger, you should be writing YA or MG, not adult.” To get a better picture of the various subgenres within fantasy, check out Top 25+ Best Free On Pinterest | Free Design this guide. 2. Develop your world through short stories. Did you know that JRR Tolkien wrote a gazillion short stories about Middle-Earth before ever starting The Hobbit ? He needed somewhere to begin. That’s exactly what Jenny Bowman, an Holiday Flyer Template | Inkd editor who worked on Robert Beatty’s Serafina and the Black Cloak , advises: a good way to build your world is to Canvanizer write short stories that feature some of your characters. “Do this with the intention of excluding [these stories] from your book,” she says. “This gives you freedom to Party Flyer Template | Inkd create a new universe with no boundaries.” So if you can’t churn out the full-blown novel inside of you just yet, don’t sweat it. Dip your toe into the water through short stories, instead. 3. Canvanizer. Plot out your story before you begin. Stories in the fantasy genre are often complex and epic — all the more reason to plot it out before. Party Flyer | Inkd. You don’t want to accidentally trip over all 99 of your storylines. And you don’t want to Canvanizer be that writer who gets to Winter Party Flyer | Inkd the end of the book and realizes they’ve forgotten to tie a knot in one part of the plot.
Hello, darkness, my old friend. That's why Young says to get a general sense of your plot before you start writing. “You’ll know your world so much better if you know your story first,” she says. “Then, once your story is Salutatorian Speech.salutatorian High School.jpg plotted out, you can use the plot structure as a skeleton to show where you want to build your world, scene by scene.” For more food for plotting thought, you can read up on narrative arcs here. 4. Tie your worldbuilding into your plot. Plot and worldbuilding should see eye-to-eye. “You want to be original, so ask yourself, what sets my world apart?” says Alex Foster, a ghostwriter who’s penned eight bestsellers. Importantly, a rich universe can be a major player in your plot — playing as big of a role as any other character. “In A Song of Ice and Winter Holiday Template Fire , George R. Speech.salutatorian Speech High School.jpg. R. Winter Holiday | Inkd. Martin uses the Psd Showcase Project Presentation Web Elements | Pixeden, environment as a plot point when describing both summer and Winter Flyer | Inkd winter seasons — as winter brings dark, dead things that can wipe out the entire Realm,” says Foster. “He also adds architecture as a plot point in Virtual Network Based And Iot the form of the Wall, a massive ice edifice separating the Holiday Party Template | Inkd, North and the South. How fascinating that such a massive piece of plot centers around a single wall. Sounds simple, but you can see its complexity.
Stephen King also does an expert job in Under the Dome , when a small town is suddenly cut off from the Canvanizer, rest of the Holiday, world by a giant, transparent dome.” 5. Canvanizer. Keep your story relevant through real-world themes. “Your concerns about politics, culture, the Winter Holiday Party Flyer Template, environment, technology, violence, racism, misogyny — these issues can be explored in inventive, eye-opening ways while writing fantasy,” says Rebecca Faith Heyman, an editor who worked on Elise Kova’s The Alchemists of Loom . “In this way, we want to return to our own existences with new perspectives, new solutions to old problems, or new awareness of what's at stake.” Another way to put it: is anything, in particular, frustrating you in real life? You can explore it through your story, because the world’s your own. And, who knows, you might be speaking for other people out there in Network Based On Sdn And Iot the world who read your book and Winter Holiday Party Flyer Template share your perspectives. “ Carry On by Rainbow Rowell does this brilliantly,” adds Heyman. Virtual Based. “There are undercurrents of identity politics explored there, as well as a depth of characterization that merges meaningfully with the fantastical elements of the text. The Grisha Trilogy by Leigh Bardugo, as well as the brilliant Six of Holiday Party, Crows and Crooked Kingdom , explore racial prejudice, ableism, identity politics, and more.” “What makes worldbuilding tick? Specific, sensory detail,” says Michelle Hope, who’s previously worked with George R.R. Martin and Blake Crouch . Top 25+ Best Free Ideas Design. “So my advice for fantasy authors is, simply: you can be as inventive and magical as you want in Holiday | Inkd your work if the Construction Resume Examples Best, writing is detailed enough to seem authentic.” Take pop culture’s current fantasy darling, Game of Thrones . “Crisp air, hooves clattering on Winter Holiday Flyer Template ironwood planks, a warm tongue, women’s perfume, summerwine, soft fur.
The writing's full of these concrete details,” points out Hope. “So when the author expands the universe to Best Templates Ideas On Pinterest Design include fantastical elements, we buy it. Dragons? Sure! Face-swapping assassins? Why not? Frozen zombies? Didn’t see that coming, but the author’s sensory style already established the world as believable, so we’re primed to accept anything thrown at us.” That said, abstract cliches don’t count. No-one’s going to Holiday Party Flyer | Inkd be impressed by your description of a man with piercing gray eyes that are the color of a storm. Canvanizer. Instead, use the senses to make the reader feel like they're there. “When a reader can viscerally inhabit your world, they won’t question it when you introduce the fantastical into Winter Flyer | Inkd your story,” says Hope. “They’ll take your word for it.” To make a world feel real and Best Templates Ideas On Pinterest functional, you also want to make sure that it’s grounded by rules — an internal rationale , so to speak.
This should encompass everything from the workings of your society to, yes, your magic system (if your universe possesses magic). Easier said than done, maybe. How to actually go about it? Chersti Nieveen, a proofreader of Holiday Flyer | Inkd, Brandon Sanderson’s Mistborn , advises you to read up on the basic and fundamental fields. Based And Iot. “Become familiar with the basics of economics, politics, philosophy, and more, and you’ll create a believable world of your own,” she says. Don’t know where to start with your magic system? Brandon Sanderson shares useful theories about Winter Party Flyer Template | Inkd, magic systems referred to as Sanderson's 3 Laws of Magic, offering a few approaches through which authors can work through their own. 8. Salutatorian Speech.salutatorian. But don’t go breaking your own rules. That said, these rules aren’t ones that are made just to be broken. “I often see first-time fantasy writers breaking their own rules, and it really takes the reader out of the story,” says Bowman. Let’s say, for example, you’ve made it clear that using magic is supposed to sap energy. Well, then, don’t make your protagonist go rip magic spells left and Winter Holiday Party Template | Inkd right in the final battle without tiring at all. Ultimately, this internal consistency matters much more than realism.
To ensure this consistency, Bowman suggests that you always jot everything down. “When do the suns come up?” she asks. “Can only children under the Speech High School.jpg, age of 10 fly? When casting a spell, does it transform the object or create an object from nothing? Know the rules of Winter | Inkd, your world (what we call physics!) when you're writing fantasy and don’t break them — unless, of course, it’s on purpose.” 9. Presentation | Psd | Pixeden. Ask questions while worldbuilding. And guess what? Your #1 most powerful weapon when you’re worldbuilding isn’t a sword — nor is Winter Party Flyer Template it a pen, or even Daenerys’ fabulous dragons. Psd Showcase Presentation | Pixeden. The most powerful tool in your world building arsenal is, instead… the question. “Where do big cities pop up?” wrote Patrick Rothfuss, author of the Party Flyer Template, Kingkiller Chronicles , once. Canvanizer. “At a confluence of trade routes. That’s influenced by rivers. Where do rivers come from?
There’s aquifers and stuff. I ask these questions. Party | Inkd. I go, ‘Why, why, why, why, why?’” This will make sure that everything is Interview Mcfarlane rationally thought-out. “Fantasy works when you can read it like it is real, if that makes sense,” says Kendall Davis, an associate editor at Penguin Random House . “You want readers to read the Winter Holiday Template | Inkd, story knowing there are stories and adventures and a world that exists far beyond the Salutatorian School.jpg, story they are currently invested in.” 10. Have the mindset of a cinematographer. Sometimes writers get so caught up in their world that they write block paragraph after block paragraph (after block paragraph) of description. Holiday Flyer. This is a mistake. “Don't tell your reader what your world appears to be,” says Young. “Give them scenery when it relates to the story by getting your characters to Network Based And Iot interact with their surroundings.” Did we ever get an ultra-wide shot showing the Holiday Party Flyer Template, whole of Middle Earth in Peter Jackson’s Lord of the Rings trilogy? Absolutely not! That would be boring to the viewers, not to Salutatorian High mention meaningless. Young observes: “Instead, cinematographers carefully plan each shot to give you a view of where the actors are.
This is exactly the Winter Flyer Template, way you should show your world.” 11. Interview your characters to know them. Good character creation and Expert Interview Mcfarlane development in fantasy is no different from Winter Party | Inkd, fiction, or any other genre. Take a minute to think of Speech.salutatorian Speech High School.jpg, your favorite characters of Winter Holiday Flyer, all time. Walter White.
Jon Snow. Construction Resume Best. Hermione Granger. Winter Holiday Flyer | Inkd. Mr Bean from Psd Showcase Project | Psd | Pixeden, Love Actually . What do they all share? “The best characters are complex and original,” says Foster. “They possess very real motives and weaknesses, and they change over time due to events and supporting characters in the story. Take your character and interview them. What do they fear most? What are their ultimate goals, and where are they willing to go to achieve that goal? Do this with all your characters when you're writing fantasy: craft a questionnaire and get your answers from them. Your publisher will thank you.” 12. Don’t introduce all your characters all at once.
Ever want a corkboard just to keep the characters in a fantasy book straight? The number of Holiday Party Flyer Template | Inkd, characters in many fantasy series are so infinite, it turns out to be a mad scramble to Based On Sdn And Iot keep track of them all — especially when the reader’s still trying to differentiate between Boldon, the protagonist, and Bolgon, the shrewish elf from Book 2. Party Template. So don’t make it even tougher on - Andrew Mcfarlane the reader by dumping all your characters onto page two. It’s one of the most common mistakes that Nieveen sees. “Fantasy writers try to introduce too many characters on one page, or there’s an info dump to reveal how the magic system works,” she says. “They make the reader sit and memorize their world or their characters before they actually introduce the story. But you end up dropping readers that way.” You should read good books, says Nieveen, with an emphasis on good . Your writing’s only going to be as great as what you’re feeding it. So read. Winter Holiday Flyer Template | Inkd. “You’re absorbing ideas. You're absorbing grammar. Project | Pixeden. You're absorbing sentence structure and rhythm and prose,” she says. “Read books with description or dialogue you admire.
Read the books that are classics—they are classics for Holiday Flyer a reason—and read the Expert Interview - Andrew Mcfarlane, books that are bestsellers and read the books that are award winners. Read and read and read, and you'll start to see your own writing improve.” To take specific action, Nieveen suggests picking the 10 books that you most admire. Then, it's just a matter of re-reading them and noting strengths in their plot, dialogue, characters, and scene structure. Learn from the best — and then go forth and Holiday Flyer Template | Inkd tilt the arena again yourself. Did any of 11 Amazing Construction, these writing tips resonate with you in particular? Have you got your own tips on writing fantasy or any more questions for our editors? Leave them in the comments.
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Learn the basics of Virtual Based On Sdn, writing great fiction: create compelling characters, build intricate worlds, and fine-tune your pacing and prose. Recommended posts from the Party Template | Inkd, Reedsy Blog. Psd Showcase Project | Pixeden. How Blending the Past and Present Allowed Me to Ask: What If? Along with being an author, Finian Black is a doctor who served in the British Army. He lives in Flyer Winchester, which is Canvanizer chock-full of medieval reminders of the time and story inspiration. In this article, … A Century of Fantasy: How the Genre's Changed Since the 1920s. The English word, fantasy, sprang from Party Template | Inkd, Old French's phantasie, or vision, imagination. But you wouldn't be entirely remiss if you'd thought that it came from the word, fantastic. Psd Showcase. When you consider all the Winter Flyer | Inkd, fantastic things in our … How Long Should Your Novel Be? Our Editors Have the Answers.
With NaNoWriMo around the corner, many authors are gearing up to weave worlds, characters, and stories into novels with their words. But… how many words does a novel make? And when it comes to Virtual Based On Sdn creating … How I Wrote My Novel by Building a Community. Giuseppe Porcaro is the author of DISCO SOUR: an | Inkd existential odyssey of Virtual Network Based And Iot, a heartsick politician trying to save a war-torn, post-austerity Europe from Holiday Flyer, algorithmic autocracy. In this article, he talks about the collaboration behind his … Writing Dialogue: Tips and Exercises That Will Bring Your Story to Life. Expert Interview Mcfarlane. Writing dialogue does not come naturally to some. Holiday Party Template | Inkd. Nonetheless, it is a skill all authors should aim to master, regardless of Psd Showcase, whether they’re writing fiction or non-fiction. Just as great novelists can pull readers into … 8 Character Development Exercises to Help You Nail Your Character.
Even the most fast-paced, action-driven novels need compelling characters to keep readers engaged. Of course, readers will never “get to Winter Party Flyer | Inkd know” a character if the author doesn’t have a thorough understanding of who they are … Join a community of over 50,000 authors. Reedsy is more than just a blog. Become a member today to discover how we can help you publish a beautiful book. Expert Interview - Andrew. Join a community of over 50,000 authors. We've helped thousands of authors like you publish their books.
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We proudly circulate our newsletter to over 50,000 authors each week. Winter Holiday Template. Subscribe today to join the party. Salutatorian Speech.salutatorian Speech School.jpg. Looking for Winter Flyer a supply of writing prompts? Join thousands of authors on our weekly newsletter, and never run out of inspiration again! Get paid for your flashes of brilliance! Earn $50 cash when we feature your prompt-inspired story on our Medium page .
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economics aqa essays 1010 N HANCOCK ST, PHILADELPHIA, PA 19123, USA. Copyright 2017 ghostwritingessays.com. Economics Aqa - Ghost Writing Essays. This Answers book provides answers for the questions asked in the workbook. Holiday Party Flyer Template | Inkd? They are intended as a guide to give teachers and students feedback. The candidate responses supplied here for the longer essay-style questions are intended to give some idea about how the exam questions might be answered.
The examiner commentaries (underlined text) have been added to give you some sense of what is rewarded in the exam and which areas can be developed. Again, these are not the only ways to answer such questions but they can be treated as one way of approaching questions of these types. Topic 1 The firm: objectives, costs and revenues 1Both private and public companies are privately owned capitalist business enterprises. The difference stems from their ownership. Private companies are owned by private shareholders who can choose the buyer of their shares. Public company shares are listed on the stock market, which means that they have to comply with the | Psd, rules of the stock market and any member of the Holiday Flyer, public can buy shares in Canvanizer, the company. An excess of sales receipts over Winter Holiday the spending of a business during a period of time, which can be calculated using the formula: profit = revenue – costs. 3At any level of output, revenue is calculated by multiplying output by Top 25+ Best Templates the price at which each unit of output is sold. In perfect competition, because it is Winter Holiday Flyer, always possible to increase sales revenue by selling more units of output, the revenue-maximising level of output does not exist. In other market structures, including monopoly and oligopoly, marginal revenue falls as more units of the good are sold.
Revenue maximisation occurs at the level f output at which marginal revenue is zero (MR = 0). By contrast, in all market structures, including perfect competition, profit maximisation occurs at Canvanizer the level of output at which marginal revenue equals marginal cost (MR = MC). 4An entrepreneur decides on questions such as how, what, where, how much and when to Holiday Flyer, produce. Expert - Andrew? Entrepreneurs decide how to employ the factors of production, and they bear the Flyer Template, business’s financial risks. In small businesses, the entrepreneur is often the founder of the firm, building the business by Presentation | Psd investing his/her own time and money. The entrepreneur directly manages the business and takes the important decisions about its direction and strategy.
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A firm’s average total costs can also be calculated by adding its average fixed costs to its average variable costs. Virtual Based On Sdn? 2Technical economies of scale occur when a firm’s production methods benefit significantly from increasing to a larger scale. Winter Holiday Party | Inkd? The productivity increases experienced by a firm in traditional economic theory stem from the larger scale of 11 Amazing Construction Resume Examples Best, production allowing for a greater division of Winter Holiday Template, labour and improved specialisation. Hence the firm experiences a technical improvement in Virtual Network Based On Sdn, production and Holiday Party | Inkd more than proportionate output gains. Salutatorian Example? An example is provided by Henry Ford’s adoption of assembly-line production in his car factories in Winter Holiday Party Flyer | Inkd, the early years of the 20th century. A bulk-buying economy of scale occurs when a firm gets a discount as a result of Expert - Andrew Mcfarlane, buying raw materials or capital goods in bulk. For example, a school may be able to | Inkd, buy 100 computers at ? 300 each, whereas a single computer would be priced at ? 600. 13(i) If a firm in a perfectly competitive market sets its price above P1, the ruling market price, it will not sell any of its products. Canvanizer? This is because its products are identical to those of its competitors, and buyers who possess perfect market information and will buy from the Flyer Template | Inkd, cheaper rival firms selling at the ruling market price. ii) If the Construction Resume Examples Best, firm sets its price below P1 it will sell all of its output, but it will not be maximising profit.
There is no sense in doing this, given that an Winter Holiday Party Template infinite number of customers are willing to Expert Interview - Andrew Mcfarlane, buy the good at the higher price of P1. 14You can understand this question by Party referring back to the answer to question 3. As long as marginal revenue is positive (at all levels of output below Q1), the monopoly can increase sales revenue by producing and selling more. But when marginal revenue is negative (at all levels of output above Q1), the monopoly can increase sales revenue by producing and selling less. Exam-style answers (essay) 01The laws of Presentation | Psd | Pixeden, diminishing returns and returns to scale are both parts of production theory. Holiday Template? (The law of diminishing returns is also known as the law of Network Based, diminishing marginal productivity. Winter Holiday Flyer? ) Production theory explains the relationship between inputs into the production process and the output of goods or services that results. The inputs are the services of the Resume, factors of production that the firm employs. The basic nature of production is shown in the diagram below. [pic] Production theory divides into short-run production theory and long-run production theory. The law of diminishing returns is a short-run economic law, whereas returns to scale occur in the long run. The law of Holiday Template | Inkd, diminishing returns has the status of an economic ‘law’, because in the short run at least one of the 11 Amazing Livecareer. Best, factors of production (usually assumed to Holiday Party Template | Inkd, be capital) is held fixed. This means that the only way a firm can increase output in the short run is by Best Ideas On Pinterest Design adding more variable factors, e. g. labour, to fixed capital. Eventually, as labour is added to fixed capital, an extra worker (the marginal worker) gets in the way of the already existing labour force and the additional output attributable to the marginal worker begins to Template | Inkd, fall.
This is when the Psd Showcase Presentation | Psd Web Elements, law of diminishing returns has set in. Returns to Template | Inkd, scale by contrast occur in the long run when all the factors of production increase. Canvanizer? The firm increases its scale or size of operation. If a doubling of Winter Holiday Party Flyer | Inkd, all the inputs (factors of production) leads to a less than doubling of output, decreasing returns to scale have set in. (Other possibilities are increasing returns to scale and constant returns to scale. ) To understand the Canvanizer, relationship between the law of diminishing returns and Winter Party Flyer Template short-run cost curves, consider the diagram on the next page. The upper panel of the diagram shows the marginal and average returns (or productivity) of labour. Diminishing marginal returns begin at point A. Increasing marginal productivity of labour (or increasing marginal returns) is shown by the positive (or rising) slope of the marginal product curve, while diminishing marginal returns are represented, beyond point A, by the curve’s negative (or falling) slope. But once the law of Speech.salutatorian Example, diminishing returns has set in, short-run marginal costs begin to Party | Inkd, rise. This is shown by Psd Showcase Web Elements the upward-sloping section of the MC curve in the lower panel of the Winter Template, diagram.
And as soon as MC rises through the average variable cost (AVC) curve (and later the average total cost (ATC) curve), the two average cost curves begin to rise. This means that the AVC and the ATC curves are U-shaped. [pic] Just as short-run cost curves are derived from the short-run law of diminishing returns, so long-run cost curves result from the nature of returns to scale. When a firm changes the scale of all the Salutatorian Speech.salutatorian Speech Example School.jpg, factors of production in the economic long run, it is usual to assume that to start with it benefits from increasing returns to scale but that eventually decreasing returns to scale set in. Given this assumption, the firm’s long-run average cost (LRAC) curve is U-shaped, as shown in the diagram below. However, other assumptions about the impact of returns to scale on long-run production would lead to different possible shapes of the LRAC curve. [pic] The mark scheme for the first part of an essay question is ‘issue based’. The mark scheme sets out all the issues deemed to be relevant to the question and indicates the Party, maximum marks that can be awarded for each issue. When added up, the total available mark is usually higher than 15 (the maximum mark for the first part of an essay question). When an Canvanizer answer scores more than 15 marks, the actual mark awarded is Flyer Template | Inkd, constrained to the maximum of | Psd Web Elements | Pixeden, 15. This is the case with this answer. All four parts of the question are addressed accurately, earning well over 15 marks. The maximum mark of 15 is awarded.
02Large firms are sometimes and perhaps often better than small firms, but they are not always better. The main reason why large firms can be better than small firms stems from the fact that in many industries, e. . mass car production, firms benefit from increasing returns to scale as the size or scale of the firm increases. Flyer Template | Inkd? As the final diagram in the answer to question 01 indicates, increasing returns to scale translate into Virtual Based On Sdn And Iot economies of scale when measured in terms of Holiday Party Flyer Template, long-run average costs of production. Economies of scale are defined as falling long-run average costs of production, whereas diseconomies of scale are rising long-run average costs of Best | Free, production. Increasing returns to scale mean that as plant size increases, a firm can combine its inputs in Holiday Party Template | Inkd, a technically more efficient way. As a result average costs of production fall.
This means that large firms, particularly in manufacturing, can benefit from technical economies of scale. Many types of plant or machinery are indivisible, in the sense that there is a certain minimum size below which they cannot operate efficiently. A firm requiring only Construction Livecareer. a small level of output must therefore choose between installing plant or machinery that it will be unable to use continuously, or using a different but less efficient method to produce the smaller level of output required. Large firms can also benefit from volume economies of scale. With many types of capital equipment (for example, metal smelters, transport containers, storage tanks and warehouses), costs increase less rapidly than capacity. When a storage tank or boiler is Party Flyer, doubled in dimension, its storage capacity actually increases eightfold.
Since heat loss depends on the area of the container’s walls (which will only have increased fourfold) and not upon Virtual Based On Sdn volume, a large smelter or boiler is technically more efficient than a small one. Volume economies are thus important in Winter Flyer, industries such as transport, storage and warehousing, as well as in metal and chemical industries, where an increase in the scale of plant provides scope for the conservation of heat and energy. When there are substantial economies of Expert Interview - Andrew, scale available to a firm, its LRAC curve will look like the Holiday Template | Inkd, one in diagram (a) of the following: [pic] When firms can benefit from Canvanizer substantial economies of scale (and economies of Holiday Party Flyer Template, large-scale production), this will benefit firms. The gain in productive efficiency achieved from a large scale of operation means that profits will be larger for large firms than for small firms. On Sdn? However, the opposite Winter Flyer | Inkd, will be true if diseconomies of scale set in early on as a firm increases its size. Economies of small-scale production (as depicted in diagram (b)) show that small firms producing at Q1 are more productively efficient than large firms. This is likely to be the situation in personal service industries such as building customised furniture for clients. A range of Psd Showcase Presentation Web Elements | Pixeden, other issues are also relevant to this question. Firms may grow large in order to exploit the Winter Party Template | Inkd, monopoly power that large size often gives to firms. - Andrew? The firms may benefit from monopoly profit, but their consumers suffer from unnecessarily high prices, restricted choice and general consumer exploitation.
The large profit and market power that large firms often enjoy may be used to finance innovation and the benefits of dynamic efficiency which, if passed on Flyer Template | Inkd, to consumers, means that they also benefit. On the other hand, this might not happen; large firms may simply enjoy an easy life, content with a degree of X-inefficiency (unnecessary costs of production). In conclusion, the answer to Resume Examples Livecareer., the question depends on the assumptions made about whether economies of scale are possible, the motives of firms, and the extent to which they can exploit monopoly power to Winter Party Flyer Template | Inkd, the detriment of Virtual And Iot, consumers. It is useful to divide large firms with monopoly power into those that are fully unified and technically integrated firms and those that are not. A fully unified or technically integrated firm is one that grows because it organises production in a productively efficient way in order to reduce average costs and increase profits. If monopoly power results, it is almost by accident. Providing it ‘behaves itself’ when large size gives it monopoly power, the firm, consumers and the public interest all benefit.
By contrast, if a firm grows (usually by takeover rather than through organic growth), its main motive may be to Winter Holiday Party Flyer Template | Inkd, exploit consumers. Clearly such firms are not ‘best’. The mark scheme for the second part of an essay question is ‘level of Virtual Network Based And Iot, skill based’. Having read the whole answer, the examiner places the answer in one of five levels. These are: • Level 1 — very weak Level 2 — weak with some understanding • Level 3 — reasonable including some correct analysis but very limited evaluation • Level 4 — good analysis but limited evaluation or reasonable analysis and Winter Holiday Flyer | Inkd reasonable evaluation • Level 5 — good analysis and good evaluation This answer has been awarded a mark at the top of level 4 in the AQA mark scheme. The levels descriptors in the mark scheme are used for the second parts of all essay questions (and also all part 03 and Expert Interview Mcfarlane 06 context data response questions at A2).
The level 4 descriptor is: A2 |AO1 Knowledge and |AO2 Application of theories,|AO3 Analysis of Holiday Party, economic |AO4 Evaluation of economic | |Levels mark scheme |understanding of theories, |concepts and terminology |problems and issues |arguments and evidence, | | |concepts and terminology | | |making informed judgements | |Level 4 |Good throughout the answer |Good application to issues |Relevant and precise with a |Limited but showing some | |17–21 marks |with few errors and |Where appropriate, good use |clear and logical chain of |appreciation of alternative | |(mid-point 19) |weaknesses |of data to support answer |reasoning |points of view | | | | |There is good awareness of Presentation | Psd | Pixeden, | | |Good analysis but limited | | |the interrelatedness of | | |evaluation | |Some good application to |economic issues | | | | |issues |Largely relevant and well |Reasonable, showing an | |or |Good throughout much of the |Where appropriate, some good|organised with reasonable |appreciation of alternative | |Reasonable analysis and |answer with few errors and |use of Holiday Party Template | Inkd, data to support |logic and coherence |points of view | |reasonable evaluation |weaknesses |answer |There is some awareness of | | | | | |the interrelatedness of | | | | | |economic issues | | The answer displays both good analysis and good evaluation, but does not quite reach level 5. Although analysis of economies and diseconomies of scale is Top 25+ Templates Free Ideas | Free Design, excellent, the analysis on monopoly is too thin, based on assertion rather than rigorous development and application of economic theory. Hence the answer is placed at Winter Holiday Flyer Template the top of Canvanizer, level 4 rather than level 5. Topic 2 Competitive markets 1It is impossible for human beings to possess perfect information about what is happening in a market. With the possible exceptions of currency and share markets, it is unrealistic to assume that all goods and Winter | Inkd services are identical, uniform or homogeneous. 2Motorists can research similar car models in Network On Sdn, trade magazines and on the internet to Holiday, get a picture of the price of cars depending on Network Based And Iot, age, mileage, condition and availability. 3Whenever marginal revenue exceeds marginal cost (MR gt; MC), selling an extra unit of output always increases total profit. The extra unit adds more to revenue than it does to costs. But whenever marginal revenue is less than marginal cost (MR lt; MC), selling an extra unit of output always reduces total profit. The extra unit adds more to costs than it does to revenue. Winter Party | Inkd? It follows that only Network Based On Sdn And Iot when marginal revenue equals marginal costs (MR = MC) are profits maximised.
Normal profit is the level of profit made by a firm that provides just sufficient incentive to stay in the market. As a profit level, it is not high enough to attract new firms into the industry to Holiday Template, compete with existing firms, or low enough to force firms out of the market. Supernormal profit is excess profit over Interview Mcfarlane and above normal profit. If there are no significant barriers to market entry, supernormal profit will attract new firms to enter the market and compete for Holiday Party | Inkd customers. This should drive prices down until surviving firms make normal profit only. 5When the price of a good is greater than the marginal cost of Psd Showcase Project | Pixeden, production, the result is allocative inefficiency because the price charged by firms will be greater than the cost of making the Winter Template, last unit. This indicates that the firm is over-charging consumers. Hence not enough of the good is demanded and society’s scarce resources are not properly allocated between competing uses. Allocative inefficiency occurs when P gt; MC or P lt; MC.
For any given employment of resources and any initial distribution of Top 25+ Best Free On Pinterest | Free, income and wealth among the population, total consumer welfare can increase if resources are re-allocated from markets where P lt; MC into those where P gt; MC, until allocative efficiency is achieved when P = MC in all markets. 6Price competition occurs when firms seek to reduce costs and gain customers by offering products at the lowest possible price. By offering the good at a low price they hope to create an incentive for the consumer to buy the Template, product. Quality competition is when a firm seeks to sell a product to | Psd, consumers on the grounds that it is Winter Holiday Party Flyer, superior quality when compared to rival products. In this case the firm’s product may be more expensive than rival goods but the firm’s business strategy aims to attract consumers by offering better quality, whether this be in design, materials, service and/or build quality. 7The internet breaks down geographical frontiers, which enables buyers and Psd Showcase Presentation | Pixeden sellers to engage in national and international markets. This has made some markets bigger and helped fulfil the assumption that there are a large number of buyers and sellers.
Internet search engines and Holiday Party Flyer | Inkd comparisons have allowed both business and consumers to move closer to the perfect information assumption. Consumers can more easily compare prices and this has helped to increase competition, although human decision making is still bounded by limited time and constraints on the level of detail that comparison websites provide. Exam-style answers (essay) 01Perfect competition is Best Templates Free On Pinterest, a market that meets all the six conditions that define the Holiday Flyer, market structure. These are: (i) a very large number of buyers and sellers; (ii) each with perfect market information; (iii) each able to buy or sell as much as it wishes at the ruling market price determined in he market as a whole; (iv) individual buyers and sellers unable to influence the ruling market price through their own actions; (v) a uniform or identical product; and (vi) an Best Templates Free | Free Design absence of Winter Holiday Template, barriers to entry into and exit from the market in the long run, i. e. complete freedom of entry and exit. A barrier to entry prevents new firms from entering a market. Taken together, these conditions tell us that a perfectly competitive firm, whose AR and MR curves are depicted in panel (a) of the diagram below, faces a perfectly elastic demand curve for its product. The demand curve facing the firm is located at the ruling market price, P1, which itself is determined through the interaction of market demand and Interview - Andrew market supply in the market as a whole, which is illustrated in panel (b) of the diagram. [pic] The assumption that a perfectly competitive firm can sell whatever quantity it wishes at the ruling market price P1, but that it cannot influence the ruling market price by its own action, means that the firm is a passive price-taker.
Condition (iii) of the conditions of perfect competition tells us that a perfectly competitive firm can sell as much as it wishes at the market’s ruling price. But, given that it can sell as much as it desires at the market’s ruling price, how much will it actually wish to produce and Winter Holiday Party Flyer Template | Inkd sell? Providing we assume that each firm’s business objective is solely to Psd Showcase | Pixeden, maximise profit, the Party Flyer | Inkd, answer is shown in panel (a) of the next diagram: [pic] Panel (a) in the diagram above adds the perfectly competitive firm’s average total cost (ATC) curve and its marginal cost (MC) curve to the revenue curves shown in the earlier diagram. Top 25+ Best Ideas | Free? Point A in panel (a) (at which MR = MC) locates the profit-maximising level of output Q1. At this level of output, total sales revenue is shown by the area OQ1AP1. Total cost is shown by the area OQ1BC1. Supernormal profits (measured by Winter Holiday Party Flyer subtracting the total cost rectangle from the Livecareer., total revenue rectangle) are shown by the shaded area C1BAP1. Referring back again to the list of the conditions of perfect competition, we can see that although firms cannot enter or leave the market in the short run, they can do so in the long run (condition (vi)). Suppose that in the short run, firms make supernormal profit.
In this situation, the ruling market price signals to firms outside the Winter Holiday, market that an incentive exists for new firms to enter the market. The next diagram shows what might then happen: [pic] Initially, too many new firms enter the market, causing the Expert Interview - Andrew Mcfarlane, supply curve to shift to the right to Template | Inkd, S2 in panel (b) of the diagram. This causes the price line to fall to P2, which lies below each firm’s ATC curve. When this happens, firms make a loss (or subnormal profit). But just as supernormal profit creates the incentive for new firms to enter the market, subnormal profit provides the incentive for Virtual And Iot marginal firms to Winter Party | Inkd, leave the Virtual Network Based On Sdn And Iot, market. In panel (b) the market supply curve shifts to the left and the market price rises. Eventually, long-run equilibrium occurs when firms make normal profit only. For the market as a whole, this is shown at output Q/// and price P3.
This answer is similar to the answer written for the Topic 1 exam-style essay question in that it includes more than enough coverage of issues to Holiday Flyer, earn all the Salutatorian Speech, available 15 marks. The candidate starts the answer with a list of the conditions of perfect competition. Weak answers frequently go no further than this. Winter Holiday Party Flyer Template | Inkd? However this answer uses the conditions as prompts for developing the Expert Interview, analysis required of a good answer to this question. Further good points are devoting more or less equal space to both the Winter Party Flyer Template | Inkd, whole market and to one firm within the Top 25+ Templates Ideas On Pinterest, market, and to the use of relevant and accurate diagrams to illustrate the analysis. The maximum 15 marks are awarded. 02In economics the word ‘efficiency’ has several meanings. For example: Technical efficiency.
A production process is technically efficient if it maximises the output produced from the available inputs or factors of Holiday Template, production. Productive efficiency or cost efficiency. To achieve productive efficiency, a firm must use the Expert - Andrew, techniques and factors of production that are available, at lowest possible cost per unit of output. In the Winter Party Template, short run, the lowest point on the relevant short-run average total cost curve locates the most productively efficient level of output for Best Design the particular scale of Holiday Template | Inkd, operation. Canvanizer? X-efficiency. This occurs when a firm has eliminated all unnecessary costs of Winter Holiday Flyer | Inkd, production, which means that it must be producing on and not above its average cost curve. Web Elements | Pixeden? Allocative efficiency.
This occurs when it is impossible to improve overall economic welfare by reallocating resources between industries or markets (assuming an initial ‘fairness’ in the distribution of income and Winter Party Flyer | Inkd wealth among the population). For resource allocation in the whole economy to Psd Showcase Project Web Elements | Pixeden, be allocatively efficient, price must equal marginal cost (P = MC) in Holiday Flyer, each and every market in the economy. Dynamic efficiency. All the forms of efficiency mentioned above are examples of static efficiency, i. e. Project Presentation? efficiency measured at a particular point in time. By contrast, dynamic efficiency measures improvements in Flyer, technical and Salutatorian Speech.salutatorian High productive efficiency that occur over time. Improvements in dynamic efficiency result from the introduction of better methods of producing existing products (including firms’ ability to benefit to a greater extent from economies of Winter Flyer | Inkd, scale), and also from developing and marketing completely new products.
The diagram below shows that a perfectly competitive firm achieves both productive and allocative efficiency in the long run, but only under the 11 Amazing Construction Resume Examples Livecareer. Best, assumption that there are no economies of scale. The firm is productively efficient because it produces the optimum output at the lowest point on the ATC curve, and it is Party Flyer Template | Inkd, allocatively efficient because P = MC. In long run or true equilibrium, a perfectly competitive firm must also be X-efficient. The reason is simple. If the firm is X-inefficient, producing at Psd Showcase Presentation | Psd Web Elements | Pixeden a level of unit costs above its ATC curve, in the long run the firm could not make normal profits. In a perfectly competitive market, to Winter Flyer Template, survive and make normal profits, a firm has to eliminate organisational slack or X-inefficiency. [pic] The first sentence in the previous paragraph asserted that perfect competition is Presentation, efficient provided there are no economies of scale.
Consider now a situation, shown in the final diagram below, in which the Party Flyer, market is too small to allow a large number of firms each to achieve all the economies of scale that are possible. [pic] For a firm to benefit from economies of scale to Salutatorian Speech High School.jpg, the full, and hence to be productively efficient in the long run as well as in the short run, its short-run cost curve would have to be positioned at SRATCN, or indeed further to Party, the right than this. - Andrew? The problem is that the market is too small to allow both full economies of scale and the large number of firms required for perfect competition to be achieved. Winter Flyer Template? Long-run productive efficiency requires a monopoly market structure (natural monopoly). By contrast, perfect competition requires each of a very large number of firms to be producing on a short-run average cost curve such as SRATC1. On such a curve, the perfectly competitive firm is indeed productively efficient in Canvanizer, the sense that it achieves short-run productive efficiency, but it is producing way below the level of output that is productively efficient in the long run when scale economies are benefited from to the full. In conclusion, a perfectly competitive firm can be efficient when judged against the criteria of Party Template, productive, X, and Speech.salutatorian Example School.jpg allocative efficiency, but only in the short run. Unlike a monopoly, a perfectly competitive firm cannot achieve long-run productive efficiency through the pursuit of economies of scale. Finally there is another argument, so far not considered, which may mean that perfectly competitive firms fail to Winter Party | Inkd, produce the Salutatorian Speech Example High School.jpg, allocatively efficient level of output. True allocative efficiency requires that the price charged for a good by a firm should equal the marginal social cost of production and Winter Party Template not the Canvanizer, marginal private cost incurred by the firm, i. e. P = MSC and not P = MPC.
This means that when externalities, negative or positive, are generated in the course of production, a perfectly competitive firm will not produce an allocatively efficient level of output. Nor will the whole market. This is clearly a level 5 answer which earns full marks. The level descriptors for level 5 are: A2 |AO1 Knowledge and |AO2 Application of Holiday Party, theories,|AO3 Analysis of economic |AO4 Evaluation of economic | |Levels mark scheme |understanding of theories, |concepts and Top 25+ On Pinterest terminology |problems and issues |arguments and Holiday Flyer | Inkd evidence, | | |concepts and terminology | | |making informed judgements | |Level 5 |Good throughout the answer |Good application to issues |Relevant and precise with a |Good with a clear final | |22–25 marks |with few errors and |Where appropriate, good use |clear and logical chain of |judgement | |(mid-point 24) |weaknesses |of data to Project, support answer |reasoning | | | | | |There is good awareness of | | |Good analysis and good | | |the interrelatedness of | | |evaluation | | |economic issues | | The question focuses solely on Party Flyer, efficiency criteria and not on welfare criteria, namely the consumer surplus members of households enjoy in Examples Livecareer. Best, perfectly competitive markets. Pleasingly, the answer starts with relevant definitions but while a couple of marks are available for Winter Holiday Party definitions, this list is really too long. Note that the concept of Resume Examples, X-efficiency is not in the Unit 3 specification, though good answers frequently make use of the concept. Holiday Template | Inkd? Topic 3 Concentrated markets Water companies such as Thames Water are pure monopolies in Construction Examples Livecareer. Best, the supply of tap water since their customers have no other companies from which they can buy tap water. The supermarket industry is Winter Holiday Flyer | Inkd, oligopolistic because over 90% of market share is controlled by four large firms. 2The John Lewis Partnership is a firm that has grown primarily through organic growth.
Halifax Bank of Scotland (HBOS), which is now owned by the Lloyds Banking Group, is a firm that primarily grew through takeover and merger. 3British Gas and Thames Water. Natural monopoly occurs when there is only room in the market for one firm benefiting to the full from Top 25+ Free Design economies of scale. In the past, utility industries such as water, gas, electricity and the telephone industries were regarded as natural monopolies. Because of the Holiday Flyer | Inkd, nature of their product, utility industries experience a particular marketing problem. The industries produce a service that is delivered through a distribution network or grid of pipes and cables into millions of separate businesses and homes. Competition in the provision of distribution grids is extremely wasteful, since it requires the duplication of fixed capacity, therefore causing each supplier to incur unnecessarily high fixed costs.
Until quite recently, utility industries were generally monopolies. High barriers to entry prevent new firms from entering the market and Psd Showcase Project Web Elements competing for profits with the monopoly. Barriers to entry will often take the form of high sunk costs, i. e. billions of pounds of capital investment which enable the firm to operate at the bottom of the Party Flyer | Inkd, long-run average cost (LRAC) curve. Monopoly firms can also be protected by Virtual On Sdn legal restrictions imposed by the government. For many decades, but no longer today, the Royal Mail enjoyed a privileged position in the delivery of mail.
Patent and copyright law protects intellectual property rights. 5A cartel or price ring is an informal agreement between firms in a market to keep prices artificially high. This allows firms to exert monopoly power through collusion and Winter Holiday | Inkd make supernormal profits by overcharging consumers. This allows poorly managed and Livecareer. Best inefficient firms to continue to Winter Party, make profits and deprives consumers of the Interview - Andrew Mcfarlane, lower prices that could be offered by Party more efficient firms that have more innovative production methods and are less wasteful. Psd Showcase Project? Under UK, EU and US law, cartels are often illegal and Winter Party Flyer Template can be punished with large fines and, in the USA, by imprisonment of company directors. Cartels can, however, provide benefits to the public.
If a cartel can protect firms from the Salutatorian High, pressures of competition and allow firms to Holiday Template, invest in research and development to invent new products, it can be extremely beneficial to the public. Large pharmaceutical companies, for example, have argued that pricing agreements have allowed them to Virtual Network Based On Sdn And Iot, raise finance to invest in expensive scientific research and Winter Holiday Party Template | Inkd drug development which they could not do if they were constantly fighting aggressive price wars with rivals. Psd Showcase | Psd Web Elements? 6Cartels are usually illegal because their behaviour results in higher prices for consumers and they allow members of the Winter Party Flyer | Inkd, cartel to operate inefficiently. In the Psd Showcase Project Presentation Web Elements | Pixeden, case of the Winter Holiday Flyer | Inkd, cement industry cartel broken up by Canvanizer the European Union competition authorities, firms were able to charge customers artificially high prices for cement, which pushed up the costs of production for the construction and building industry. This meant that government contractors had to spend more of their taxpayers’ money to purchase cement for investment projects such as school buildings, hospitals and roads. Private sector companies also had to pass on higher prices to businesses and households, which depleted levels of household disposable income and reduced households’ ability to spend on Winter Flyer, other goods and services. Most cartel members benefited significantly from the supernormal profits they made. Managers and the owners of the businesses would have benefited, but not the general public. Furthermore, the supernormal profit did not encourage managers to look for efficiency savings, invent new products or innovate new production methods. As a result, prices remained high as consumers paid too much for products. These market distortions resulted in 11 Amazing Construction Resume, consumers facing wrong prices signals, which in turn led to a misallocation of scarce resources.
7In the Winter Flyer Template | Inkd, original ‘prisoner’s dilemma’, two prisoners are jointly charged with a serious crime such as armed robbery and are held in isolation from each other. Psd Showcase Presentation | Psd? The prosecutor, hoping to have his task simplified, knows that a confession from one will convict the other, but he also knows that the available evidence is Winter Party | Inkd, insufficient to Templates On Pinterest | Free Design, ensure a conviction. If both prisoners plead not guilty, they are likely to Winter Flyer Template | Inkd, go free. Hoping to ensure two guilty pleas, the prosecutor visits each prisoner in his cell and offers a deal. The prosecutor informs each prisoner that he will receive one of - Andrew, two possible outcomes, depending on how he pleads: (i) if both prisoners plead guilty, each will go to Template, prison for one year; and (ii) if one prisoner pleads guilty and the other not guilty, the Resume Livecareer., prisoner pleading guilty will be freed and receive a reward — if he gives evidence to convict the other prisoner — whilst the Party Flyer Template | Inkd, other prisoner gets a five-year jail sentence.
Each prisoner faces the dilemma that if he pleads not guilty but the Psd Showcase | Psd, other prisoner pleads guilty and shops him, he will get the worse possible outcome, namely being banged up for five years. Shuddering at this possibility, both prisoners plead guilty and Winter Holiday Flyer Template get the second best outcome: one year in jail. However, the best outcome for each prisoner, namely going free and possibly earning a reward, is not achieved. The prisoner’s dilemma scenario can be used to model the behaviour of competitive duopolists, for example those in the arms industry. A British and a French company are competing to High, secure an arms deal to sell a billion pounds’ worth of weapons to Iraq. By paying bribes of Winter Holiday Party | Inkd, $100 million to government ministers in Iraq, the Salutatorian Speech Example, British company believes it will get the whole deal. Holiday Party? However, earning ? 1 billion depends on the actions of the French company, the only other likely supplier of the arms. Expert Interview? If both companies bribe Iraqi ministers, the deal is likely to be shared between the two suppliers. The British company’s profits will then be much less than if it alone pays bribes and gets all the business. The chief executive officer of the British company thinks it a pity to pay out $100 million, but if they did not and the French company did, the French would get all the business and the UK company would make zero profit. In the absence of collusion, there are two strategies available to each firm: (a)Pay the bribe, while the other firm does not bribe.
Outcome: (i)for the firm paying the bribe: a net income of $900 million (ii)for the firm refusing to bribe: nothing (b)Both pay the bribe. Outcome: The sale is shared: each firm nets $400 million. To avoid losing all the business and making zero profit, both rivals decide to pay the bribe. In this scenario, paying the bribe is each firm’s dominant strategy, i. Winter Flyer? e. the strategy to be pursued whatever rival firms do. Paying the bribe makes the British company better off, whatever the French do, and vice versa. 8When natural barriers to 11 Amazing Construction Examples Livecareer. Best, market entry are low or non-existent, incumbent firms (i. Holiday Flyer Template | Inkd? e. firms already in Resume Examples Best, the market) may set low prices, known as limit prices, to deter new firms from entering the market. Winter Holiday Template? Incumbent firms do this because they fear increased competition and loss of market power. With limit pricing, firms already in the market sacrifice short-run profit maximisation in order to maximise long-run profits, achieved through deterring the entry of new firms. By contrast, predatory pricing occurs when a firm cuts the price of its product to a loss-making level in order to force a rival firm out of business. This strategy is normally used by large firms that can subsidise losses using profits from another part of Canvanizer, their business empire to Holiday Flyer, force smaller rivals out of the market. 9Firms undertake price discrimination in order to maximise profits.
This arises when different customers have different elasticities of demand at different prices. Psd Showcase | Psd | Pixeden? If one customer has a highly inelastic demand and another an elastic demand, the firm will be able to sell them the same product but at different prices. Train companies will typically price discriminate by charging different fares to different customers and also varying the Winter Flyer | Inkd, price of a ticket at different times of the day to send price signals and create incentives and disincentives to travel. Price discrimination occurs when firms charge different prices to different customers based on differences in the customers’ ability and willingness to pay. Presentation | Psd Web Elements | Pixeden? Those customers who are prepared to pay more are charged a higher price than those who are only willing to Holiday Party Flyer Template, pay a lower price. Price discrimination allows firms to increase profit by Canvanizer taking consumer surplus away from consumers and converting it into extra monopoly profit or supernormal profit. Providing the increase in sales revenue resulting from price discrimination is greater than the extra costs incurred when charging different prices to different customers, it is in firms’ interest to indulge in this form of pricing.
10The gamer’s consumer surplus is Holiday Flyer Template | Inkd, ? 0, being the difference between the maximum price he was prepared to Based On Sdn, pay and the actual price he paid. The store owner’s producer surplus is ? 2, being the difference between the lowest price he was prepared to accept and the actual price paid. 11Expensive capital equipment and sunk costs, and patent and copyright laws. 12A patent is the legal protection given to an inventor or producer which grants exclusive rights to Holiday Flyer, a product for Top 25+ Free On Pinterest up to Winter Holiday Party, 20 years. Virtual Network On Sdn? This legal protection allows firms to make supernormal profits because they are effectively monopoly producers. Patent protection creates a strong incentive for firms to invent new products and create new technologies or pharmaceutical products which significantly improve social welfare.
Thus patent protection drives dynamic efficiency. Invention and new product design frequently require high levels of research and development which burden firms with significant sunk costs and risk bankruptcy if the Holiday Flyer, new product fails. Hence the incentive of making supernormal profits over a 20-year period encourages firms to Construction, invent, seek dynamic efficiencies and take risks. Flyer? Exam-style answers (data response) Competition and Psd Showcase | Psd monopoly in the EU airline industry 01Air France enjoys a domestic market share of 80%, whereas the domestic market share of Flybe is just under 30%. There is thus a difference of just over 50% between the domestic market shares of the two airlines. A significant feature of the data is that only one airline, SAS, leads the domestic market in Holiday Template, more than one country. SAS’s market share in Norway is about 43% while its market share in Sweden is about 37%. The first part of the context data response question in Based On Sdn, ECON 3 and in ECON4 will usually be in Holiday Flyer Template | Inkd, two parts. The first part requires a calculation (often a percentage calculation). The second part asks for identification of one other significant point of comparison, or in this question where there is only one data series in Extract A, one other significant feature of the data.
Some future exam papers may revert to asking for two significant points of Canvanizer, comparison (or features), without a preliminary calculation. For this question, the answer picks up 3 marks for the calculation and 3 marks for Winter Holiday Flyer identifying a significant feature in the data, constrained to Construction Best, the maximum mark of 5 available for the question. 02The term ‘monopoly power’ does not mean quite the same thing as monopoly. Whereas pure monopoly occurs when there is only one firm in the market, monopoly power exists even when pure monopoly does not. The term applies to a situation in Winter Flyer, which firms within the market possess the power to Expert, reduce output, raise the price, and make supernormal profit. By using strategies such as product design, brand imaging, persuasive advertising and Holiday Flyer | Inkd protecting themselves through patents, firms can exercise a degree of monopoly power even when there are many firms in the market. Although Air France is not a pure monopoly in the French market, it may be a monopoly for flights between particular airports. In any case, even when not a pure monopoly, Air France possesses a large amount of monopoly power which it may choose to exercise.
As the Interview - Andrew, diagram below shows, on routes where its monopoly power is complete, it may hike up the Winter Party Flyer, price it charges to P2, compared to a competitive market price of P1. Expert Interview Mcfarlane? It does this by restricting the number of flights to F2, compared to F1, which would be the number of flights if the market were perfectly competitive. [pic] In the latter case, market equilibrium would be determined at point A on the diagram. But when Air France acts as a pure monopoly, point B (where MR = MC) determines the level of output, with Air France then able to charge a price of P2. Winter Holiday Flyer | Inkd? Air France could also use its monopoly power in other ways. The airline could indulge in price discrimination, charging higher prices to customers who are prepared to pay more for High a flight. Alternatively, and presumably requiring the support of the French government, Air France might charge limit prices or even predatory prices. Holiday Template? A limit price is a price set deliberately low to Top 25+ Templates Free | Free, discourage competitor airlines from Flyer Template | Inkd entering the market.
A predatory price is set even lower, below average costs, with the intention of Salutatorian Speech Example High School.jpg, driving rival airlines that have dared to enter the Party Flyer Template, market, out of the market. However, perhaps the main way Air France might exercise its monopoly power is by Expert gaining control of landing and take-off slots at French airports, to make it uneconomic or impossible for rivals to use the airports. As with the first part of context data response question, in Party Flyer, ECON 3 and in ECON4 the second part of the question divides into two parts. The first part (worth 4 marks) asks candidates to explain the meaning of an Canvanizer economic term (in this case ‘monopoly power’). The follow-on part (worth 6 marks) tests the more demanding skill of economic analysis. An answer is constrained to a maximum of | Inkd, 6 marks if only the explanation or analysis is attempted. This answer is 11 Amazing Examples Livecareer. Best, more than sufficient to earn all 10 marks. In fact, the candidate is in danger of spending too much time on Winter Holiday Flyer Template, an 02 question, which would leave too little time to develop an answer to the last part of the question. 03A cartel is a collusive agreement by firms, usually to fix prices. Sometimes output may also be fixed.
In the diagram below, five firms jointly agree to Salutatorian Speech School.jpg, charge a price to keep firm E, which is the least efficient firm, in the market. In a competitive market, firm E would have to reduce costs or go out of Holiday Flyer | Inkd, business. Cartel agreements therefore enable inefficient firms to stay in Virtual Network And Iot, business, while other more efficient members of the price ring enjoy supernormal or monopoly profit. By protecting the inefficient and enabling firms to enjoy an easy life protected from competition, cartels display the disadvantages of monopoly (high prices and restriction of choice) without the benefits that monopoly can sometimes bring, namely economies of scale and improvements in dynamic efficiency. Although cartels can achieve a better outcome for all firms concerned, they are not likely to be good for the consumer.
For this reason, cartel agreements are usually illegal and judged by governments as being anti-competitive and against the public interest. Nevertheless, some forms of cooperation or collusion between oligopolistic firms may be justifiable and in the public interest. These include joint product development and Flyer | Inkd cooperation to improve health and safety within the 11 Amazing Construction Examples Best, industry, or to ensure that product and labour standards are maintained. Such examples of industry collaboration are normally deemed to Holiday Flyer, be good, in contrast to price collusion, which is regarded as bad. [pic] Currently, within the European Union, cartels are usually deemed to be illegal, both by national competition authorities such as the 11 Amazing Resume Examples Livecareer., Competition Commission in the UK, and by EU competition policy. Winter Flyer | Inkd? In both national and EU competition policy, a cartel agreement is Network On Sdn, treated as an anti-competitive trading restrictive practice, collectively undertaken by the member firms of the Winter Party Flyer Template, cartel. Within the UK, the Office of Fair Trading (OFT) can refer collective restrictive agreements and practices to a court of law, the Mcfarlane, Restrictive Practice Court (RPC). Arguably, policy towards collective restrictive practices is more effective than other aspects of competition policy because a court enforces the policy. A firm that ignores an RPC ruling may be found guilty of contempt and fined. Nevertheless, the punishments that the Holiday Party Flyer Template | Inkd, RPC can hand out Project Presentation | Psd Web Elements, are quite weak — usually a fine of just a few thousand pounds.
Restrictive trading practice policy would be much more effective if fines of millions rather than thousands of pounds were imposed, and if the Winter | Inkd, authorities were given more power to Construction Resume Livecareer., detect secretive collusive agreements. European Union competition policy, including policy aimed at cartels, is based on Winter Holiday Party, the principle of subsidiarity. This principle means that EU policy is activated only when firms operating within the EU adversely affect or distort trade between EU member states. Psd Showcase | Psd Web Elements | Pixeden? Thus a cartel agreement between a number of (probably small) UK companies, operating solely within the UK and not competing with firms from other EU countries, would not attract the attention of the EU Competition Commissioner, who is in Winter Party Flyer | Inkd, charge of Resume Examples Best, EU competition policy. In practice, EU and national competition authorities complement each other and should not be regarded as alternatives. It is also the case that the EU Competition Commissioner imposes heavier fines and more draconian punishments on firms found to be operating anti-competitive cartel agreements, than do strictly national competition authorities. This is evidenced by the case study in Extract C in the question. The case study reported that the EU fined 11 national airlines about ˆ800 million for fixing the price of air cargo between 1999 and 2006. Holiday Party Template | Inkd? British Airways was fined ˆ104 million, Air France-KLM ˆ340 million and Cargolux Airlines ˆ79.
9 million. Salutatorian Example? The case study also draws attention to the fact that because cartel agreements are usually hidden, they are often exposed by a dissatisfied member of the cartel ‘blowing the whistle’ on other cartel members. Whistle blowers usually get off scot-free (to incentivise whistle blowing in other, as yet unexposed, cartels). Meanwhile, the other cartel members are heavily punished. In conclusion, therefore, I take issue with the Holiday | Inkd, word ‘solely’ in the question. National and EU policy should reinforce each other and be treated as complements, rather than as substitute policy options. Perhaps a little harshly, this answer is placed at the top of level 4 (17–21 marks) rather than in level 5. The evaluation is certainly good enough for level 5. However, the analysis is on the thin side. Salutatorian Speech.salutatorian Speech Example High? To ensure a level 5 mark, the candidate could have included theory (for example the theory of joint profit maximisation) to analyse how price rings can allow all the colluding firms to enjoy monopoly profit. Often the final part of a data-response question or an essay question contains a word such as must, always, inevitably, or in this case solely. Good candidates (such as this one) pick up on these words, arguing (in this case) that EU and Winter Flyer Template | Inkd UK competition authorities should complement each other and not be seen as alternatives to each other. This is good evaluation.
Topic 4 The labour market 1When households increase demand for Expert Interview - Andrew Mcfarlane goods and Winter Holiday services, firms respond by employing more labour to increase production. Workers are demanded, not for the utility or pleasure their employment gives to employers, but because their labour is necessary for profits to be made when the goods or services that workers help to produce are sold. Resume Examples? Perfect competition in the labour market is both similar to, and different from, perfect competition in the goods market. In both markets, the Holiday Party Flyer | Inkd, ruling market price is set in the market as a whole through the interaction of all the economic agents operating in the market. However, in a labour market, the ruling market price is in Psd Showcase Project | Psd, fact the ruling market wage, paid by firms and received by workers. This difference illustrates role reversal in the two sets of Holiday Party | Inkd, markets. Expert Mcfarlane? Households, which are the source of demand in the goods market, are the source of supply of labour in the labour market. Similarly, firms, which are the source of supply in the goods market, are the source of demand (a derived demand) in the labour market.
As a result of role reversal, the ruling market price facing each firm in the goods market is its perfectly elastic demand curve for labour, and also the AR and MR curve facing each firm. By contrast, the ruling market wage facing each employer in the labour market is Winter Party Template | Inkd, a perfectly elastic supply curve of labour, and also the Expert, average cost of labour (ACL) curve and the marginal cost of labour (MCL) curve facing each employer. Holiday Party | Inkd? 3Transport for London (TFL) bargains collectively with ASLEF, the train drivers’ union, and with RMT, the National Union of Rail, Maritime and Transport Workers. The energy company EDF also bargains collectively with its workers’ unions. Expert Interview - Andrew? In 1999, the Holiday Template, national minimum wage (NMW) came into force in the UK at a rate of ? 3. Canvanizer? 60 an Winter Flyer hour for Interview - Andrew Mcfarlane workers aged 22 and Holiday Flyer Template over. Canvanizer? The current rates (from 1 October 2012) are: ? 6. 19, the Winter Holiday Party Flyer Template | Inkd, main rate for Network Based And Iot workers aged 21 and Winter Flyer Template over; ? 4. Canvanizer? 98, the Flyer Template | Inkd, 18–20 rate; ? 3. 68, the 16–17 rate for workers above school leaving age but under 18; ? 2. 65, the apprentice rate, for apprentices under 19 or 19 or over Salutatorian Speech.salutatorian Speech School.jpg and in the first year of their apprenticeship. 5(i)Income is an Winter Party economic flow; it is the payments received by an individual or household in a given time period. Wealth is an economic stock; it is the accumulated assets, property and savings owned by Livecareer. Best an individual or household over time. ii)Welfare benefits are payments transferred to an individual or household by the government via the Flyer Template, taxation and social security system, without labour or a factor service being supplied. Earned income is payments received by Canvanizer an individual or household in exchange for labour or interest on saving or the rent of an asset. Exam-style answers (essay) 01Income is Flyer Template, a flow while wealth is a stock.
Personal wealth is the Top 25+ Templates Design, stock, or historical accumulation, of everything people own, which has value. By contrast, income is the flow of money received hourly, weekly, monthly or annually, some of which (the part saved) can add to Winter Holiday Party, or enlarge personal wealth. This is one of the links between income and wealth. A second link operates in the opposite direction: the wealthier people are, the more investment income they are likely to earn, which adds to their total income. Indeed, the rich benefit from a virtuous circle: wealth increases income, which allows the wealthy to save, and saving adds to Top 25+ Best Free Ideas On Pinterest, wealth, and so on. By contrast, many of the poor suffer a vicious circle: low income means the poor have to borrow, borrowing adds to Holiday Party Template | Inkd, personal debt, income is Construction Livecareer. Best, then spent on debt repayment, consumption falls, and any wealth the poor possess disappears. As in other countries, income and Holiday Template wealth have always been unequally distributed in the UK. Even when economic growth creates full employment, the incomes of the rich tend to Top 25+ Best Ideas On Pinterest | Free Design, increase faster than those of the poor. Three of the Winter Flyer Template, main causes of Network Based, inequalities in the distribution of income and wealth in the UK are old age, unemployment, and the low wages of many of those in work.
Old age causes income inequality (and also poverty) largely because many old people rely on the state pension and lack a private pension. Winter | Inkd? Before the 11 Amazing Resume, early 1980s, the state pension rose each year in line with average earnings. Party Flyer? This meant that pensioners, albeit from a lower base, shared in the increase in national prosperity delivered by economic growth and higher real earnings. However, since the early 1980s, the Templates Design, state pension rose first in line with the retail prices index (RPI) (and latterly in line with the consumer prices index (CPI)), rather than with average earnings. This has kept the Holiday, real value or purchasing power of the state pension at or near its early-1980s level, while the real earnings of those in work have continued to rise. Pensioners reliant solely on the state for a source of income have especially suffered.
The state pension is now regarded very much as a ‘poverty income’. Even though the state pension is index-linked to the CPI, its real value has fallen because the cost of Top 25+ Ideas | Free Design, living of the elderly rises by more than any increase in the CPI. Unemployment benefits are also now linked to the CPI and, for Holiday Flyer Template similar reasons as apply to the state pension, have fallen behind average earnings. Until quite recently, even if unemployment remained the same, increases in the incomes of the unemployed generally fell below increases in the incomes of those in work. However, since 2008, unemployment has risen rapidly and stands above two and Canvanizer a half million. Holiday Template | Inkd? This means that more people suffer from low incomes (just as people living longer adds to the number of pensioners on low incomes). (Before moving on to explain how low wages increase income inequalities, it should be stated that recent events have partially offset the conclusions drawn in the previous paragraphs. Since 2009, the wages and salaries of much of the UK population in work have hardly changed at all, but the state pension and unemployment benefits have risen by Speech.salutatorian Example High School.jpg rather more, albeit from Holiday Party Flyer | Inkd a lower starting point. At the same time, because of a series of Top 25+ Templates Design, crises in private pension provision, many people approaching retirement age who had been looking forward to receiving substantial private pensions are now expecting much lower private pensions. ) Moving on to low pay as a cause of widening income differentials, an important factor has been the disappearance of middle-ranking jobs in the private sector. An example is in engineering, where skilled jobs have simply disappeared. Many of these jobs have moved overseas, leaving a vacuum in the British labour market.
There is now a worrying gap between low-skilled, low-paid jobs (so called McJobs) at the bottom of the pile, and highly-paid jobs in industries such as investment banking where the rate of pay has risen astronomically in Winter Flyer Template | Inkd, recent years, in Templates On Pinterest, both real and nominal terms. This answer scores 14 out Winter Party Flyer Template, of the 15 marks available. It earns the two marks available for definitions. (Because definitions pick up marks, it is always a good idea to provide two relevant definitions in the answer to the first part of an essay question, or to the second part of 11 Amazing Resume Livecareer. Best, a context data-response question). The candidate lists and then explains three causes of income inequality. Winter Holiday Party Template? The effects of old age and Best Free Ideas unemployment are explained well. The final explanation of the effect of low wages is Holiday, sound but a little thin.
It would have benefited from graphical analysis, showing for example that the widening difference between high and low wages is partially caused by Expert - Andrew different demand and supply conditions in different labour markets: [pic] 2A tax is progressive if, as income rises, a greater proportion of income is Holiday Party Flyer | Inkd, paid in tax. A transfer is the payment of income by the state to a benefit recipient, without the person involved providing any labour in Project | Psd | Pixeden, exchange for the income received. It is of course possible for the government to Winter Party | Inkd, use progressive taxation to narrow the gap between pre-tax and post-tax income, without redistributing income. The tax revenue could for example be spent on tanks and guns. It is also possible for the tax revenue raised from progressive taxation to Construction Examples Livecareer., be given back to the better-off, for example through subsidies given to already-rich farmers or by giving gentrification grants to people on high incomes to spend on improving their houses. However, usually when we think of progressive taxation and transfers, the implicit assumption is that the rich are taxed more than the poor and that much of the tax revenue is transferred and given as welfare benefits to the poor. There is no doubt that progressive taxation and transfers provide an Holiday | Inkd obvious way to reduce inequalities in the distribution of income and wealth. Before 1979, UK governments of all political complexions used progressive taxation and Examples Livecareer. a policy of transfers of income to the less well-off, in a deliberate attempt — with some success — to reduce inequalities in the distribution of income. However, there is a major problem involved if only progressive taxation and transfers are used with this aim in mind.
The reason for this relates to Winter Flyer Template, the conflict between two of the principles or canons of taxation: equity and efficiency. Equity means that a tax system should be fair, although, of course, there may be different and possibly conflicting interpretations of what is fair or equitable. Specifically, a particular tax should be based on the taxpayer’s ability to pay. This principle is one of the justifications of Expert, progressive taxation, since the rich have a greater ability to pay than the poor. Efficiency means that a tax should achieve its intended aim or aims with minimum undesired distortion or side-effects. Arguably, the high income-tax rates that are necessary to make the tax system progressive have an adverse effect on personal incentives. Winter Holiday Template | Inkd? In particular, they may reduce the incentives to work harder, to be entrepreneurial and to Psd Showcase Presentation Web Elements, take financial risks.
Free-market and supply-side economists believe these disincentive effects lead to a significant slowing down of the economy’s rate of growth. The economy ends up being more equal, but poorer overall when compared with competitor countries. Supply-side economists believe that greater incentives for work and enterprise are necessary in order to increase the UK’s growth rate. For free-market economists and politicians, progressive taxation and transfers to the poor mean that people have less incentive to work harder and to engage in entrepreneurial risk. Moreover, the ease with which the poor can claim welfare benefits and the level at which they are available creates a situation in which the poor rationally choose unemployment and state benefits in preference to low wages and work. In this so-called dependency culture, the unwaged are effectively ‘married to the state’, but some of the poor, obviously not enjoying this marriage, drift into antisocial behaviour, attacking bus shelters and other public property, as well as privately owned property.
Meanwhile, at the top of the income pyramid, the high marginal rates of taxation, which form a large part of Holiday Party | Inkd, progressive taxation, are a disincentive to the better-off. They stop working, or work abroad, and many hours are wasted in designing and applying complicated systems of Construction Livecareer., tax avoidance — a paradise for accountants. Tax evasion (the failure to pay legally due taxes) also proliferates, both at the top and bottom of the income pyramid. Illegal tax evasion leads to the growth of the so-called black economy and to activities such as smuggling. Supply-side economists believe that tax and benefit cuts, which are the opposite of progressive taxation and transfers, alter the labour/leisure choice in favour of supplying labour, particularly for benefit claimants who lack the Template | Inkd, skills necessary for high-paid jobs. They also believe that to make everyone eventually better-off, the poor must first be made worse off. Increased inequality is necessary to facilitate economic growth from which all would eventually benefit. Project Presentation? Through a ‘trickle down’ effect, the poor would end up better off in absolute terms, but because inequalities had widened, they would still be relatively worse off compared with the rich.
Needless to Winter Party Flyer Template, say, by no means all economists agree with this extremely pro-free market analysis. However, virtually all agree that progressive taxation and transfers should not solely be used to narrow income differentials. Apart from the pro-free market view just summarised, some economists believe that other forms of intervention in Expert - Andrew, the free market are necessary. One of Holiday Template | Inkd, these is the national minimum wage, which in recent years has marginally raised low pay rates. They also argue that governments should extend the provision of merit goods such as free state education and Canvanizer healthcare, in order to improve the social wage of lower-income groups. The social wage is Winter Holiday Party Template, that part of Expert Interview, a worker’s standard of living received as goods and services provided at zero price or as ‘income in kind’ by the state, being financed collectively out of taxation. However, such interventionist policies incur a significant opportunity cost. They lead to high taxation, with the disincentive effect this brings about, and they may also lead to adverse unintended consequences and to other aspects of government failure. Winter Holiday | Inkd? It is important to read the question carefully.
This question does not ask for a discussion of Salutatorian Speech School.jpg, whether the distribution of income should be made more equal. Unfortunately, the answer deflects a little too much in this direction. Nevertheless, it is still valid to argue that progressive taxation and transfers should not solely be used to reduce inequalities, because of the disadvantages and unintended consequences of these two fiscal policy instruments. The answer scores 19 out of a possible 25 and has been placed at mid-level 4. To achieve level 5, there should have been more focus on the actual set question and more discussion and analysis of policies such as a national minimum wage, for Flyer example discussing whether such policies should be better viewed as alternatives or complementary to progressive taxation and transfers. No marks are awarded for definitions in answers to Web Elements | Pixeden, the final parts of essay and context data-response questions. Nevertheless, it is still a good idea to Winter Flyer | Inkd, define key concepts at the beginning of the answer as this acts as a good launching pad for developing the Salutatorian Speech.salutatorian Speech Example High, subsequent analysis and evaluation. Topic 5 Government intervention in the market A public good has three characteristics: it is non-excludable, non-diminishable (non-rival) and non-rejectable. Winter Holiday Flyer Template? These characteristics mean that (if it is a pure public good — see answer to question 2) it cannot be provided by the market mechanism. A merit good is provided by the market mechanism and it has the Based, characteristics of a private good. It is excludable, diminishable (rival) and rejectable. A merit good, however, is often undervalued by households and thus under-consumed when provided at a market price by the free market.
There are two reasons for Holiday Template | Inkd this. First, consumers do not value the positive externalities that result from consumption which benefit other people. Second, consumers typically suffer from an Virtual information problem which causes them to ignore or undervalue the benefits of consumption which will be enjoyed in the future. Holiday Party Flyer | Inkd? 2Public goods can be divided into pure public goods and non-pure public goods. National defence and police are examples of pure public goods — defined as public goods for Canvanizer which it is impossible to exclude ‘free-riders’. Party Flyer Template | Inkd? However, most public goods (street lighting, roads, television and radio programmes and also lighthouses) are really non-pure public goods (also known as quasi-public goods). Methods can be devised for converting the Resume Examples Livecareer. Best, goods into private goods by excluding ‘free-riders’ (for example, electronic pricing of road use). Non-pure public goods can be provided by Holiday Template | Inkd markets, but the second property of non-rivalry or non-diminishability means there is a case for providing all public goods free in order to encourage as much consumption as possible.
For public goods, the optimal level of consumption occurs when they are available free of 11 Amazing Construction Resume, charge. 3For a merit good, the long-term private benefit of consumption exceeds the short-term private benefit of consumption. Winter Flyer? However, when deciding how much to consume, individuals take account of short-term costs and benefits, but ignore or undervalue the long-term private cost and benefit. Psd Showcase Project | Pixeden? Preventative dentistry provides a good example. Many people ignore the Winter Holiday Flyer | Inkd, long-term benefit of dental check-ups, and | Psd | Pixeden decide, because of the short-term unpleasantness of the experience, not to consume the service. Unfortunately, these people can nd up later in Holiday Party Flyer Template, life with rotten teeth or gum disease, saying: ‘If only Top 25+ Templates Design I had visited the dentist more often when I was younger’. Likewise, school children who undervalue the long-term private benefit of education say later in life: ‘If only I had worked harder at school, I would now have a better, more enjoyable job with more pay. ’ 4Property rights in a market-based economy stem from the notion that an individual owns land or a good and can exclude other members of society from entering the land or using the good, unless they are willing to pay for the privilege. 5Regulatory capture is the notion that a firm can exert undue influence over a government agency charged with regulating the market in which it operates. This can take the form of excessive hospitality, persistent lobbying, aggressive pressure backed up with litigation and, in the extreme, bribery.
This results in the regulator becoming either too friendly or too scared of the firm to fairly regulate its conduct in the marketplace; hence the term ‘regulatory capture’. 6A cartel is generally illegal because it is an anti-competitive trading restrictive practice which protects inefficient firms, raises costs and discourages improvements in dynamic efficiency. As a result of the principle of subsidiarity, UK and EU competition authorities work together. EU policy over-arches UK policy when an EU-wide dimension is involved in relation to monopolies, mergers and trading restrictive practices. If the issue is strictly national, relating only to the UK, the EU leaves policy implementation to the UK competition authorities. See also the answer to Topic 3 essay question 03 on pages 15–16 of these answers. 7In 2008 and 2009 many banks in many countries, including the Winter Holiday | Inkd, UK, were close to collapse. Some banks did collapse, such as Lehman Brothers in the USA. Banks faced the danger of possible collapse as a result of an unexpected fall in the value of their assets, stemming from the credit crunch and the sub-prime mortgage problem, which particularly affected US banks. The assets owned by the banks were now much less than their liabilities.
Banks make money by lending out much greater sums than they receive as deposits from customers. Providing customers with deposits in a bank believe that their deposits are safe and can be paid back on Expert Interview, demand, the bank is almost completely safe, with a minimal chance of it collapsing. However, in 2008 and 2009, customers began to withdraw their deposits from banks, leading to a fear of a run on the banks, followed by Winter Flyer | Inkd possible bank collapse. With many industries, government ministers nowadays take the view that failing businesses should be allowed to collapse. However, this is not generally their view with regard to banks. Politicians fear a domino effect in Psd Showcase Presentation Web Elements | Pixeden, which the collapse of Holiday Flyer Template | Inkd, one bank leads to a string of collapses in other banks. This fear, let alone actual collapse, can have a devastating effect on confidence in the economy, which may in turn lead to Psd Showcase Presentation | Psd | Pixeden, a collapse in aggregate demand and the creation of recessionary conditions.
Government ministers also realise the crucial role of banks in providing liquidity to both households and firms. When the Winter Flyer | Inkd, banking system froze in 2007–08, firms found they were unable to borrow from 11 Amazing Resume Livecareer. banks. As a result, the cash supply to perfectly well-run firms dried up and some of them went out of business. All this helps to explain why the British government bought up a majority shareholding in the Northern Rock bank, RBS and HBOS, to enable these banks to continue trading. It was hoped that state ownership would secure the supply of loans both to business customers and to mortgagees, though this hope was only partially met. At the time of effective nationalisation, the UK government stated that the nationalised banks would be returned to Winter Flyer Template, the private sector as soon as possible. Part of the Northern Rock bank — the High School.jpg, so-called ‘good bank’ but not the Holiday Party Flyer | Inkd, ‘bad bank’ element which is still state-owned — has been returned to Top 25+ Best Templates Free On Pinterest | Free, the private sector, rebranded as a part of Virgin Money. 8As the answer to question 7 mentions, part of the Party Template | Inkd, Northern Rock bank (which had been nationalised in 2008) was privatised in 2011. Many years earlier, British Telecommunications (BT), previously a nationalised firm since it was hived off from the Resume Examples Livecareer., Royal Mail, was privatised when the business was converted into a public limited company (PLC) whose shares were sold to the general public in three tranches, in 1984, 1991 and 1993.
An example of deregulation was a change in the law to Holiday | Inkd, allow building societies to compete with banks when granting loans to customers. 9In terms of income, equality means that everyone receives exactly the same income. Equity relates to whether the distribution of income between different people is fair or just. Equality is Best Templates Free On Pinterest Design, thus a positive concept, since people’s incomes can be measured to see if they are exactly equal. Equity, by contrast, is Winter Holiday Template | Inkd, normative since it depends on people’s value judgements as to Canvanizer, what is fair or just. 0In the poverty trap, also known as the earnings trap, low-waged people who pay income tax and national insurance contributions (NICs) to the government and Holiday Flyer Template who lose welfare benefits, become trapped in relative poverty when their wages rise. The unemployment trap is closely related to the poverty trap, since both affect the poor and result from the nature of the tax and benefit systems. But people caught in the unemployment trap are out of work — at least in terms of officially declared employment.
The unemployment trap contains un-waged social security claimants who ‘choose’ unemployment because they are better off out of work, living on benefits, than in Best Templates Ideas On Pinterest, low-paid jobs paying income tax and NICs and losing some or all of their right to claim means-tested benefits. 1Fuel poverty is defined as existing among households who spend more than 10% of their income on fuel. In July 2011, the UK government reported that more than a fifth of Winter Holiday Template | Inkd, all households in the UK were affected by fuel poverty in 2009. Higher fuel bills meant the number of homes affected rose by one million, or 22%, to 5. 5 million, according to the Department of Energy and Climate Change. Exam-style answers (data response) The impact of climate change on the UK economy 01Asian countries emitted 0. 9 billion tonnes of carbon pollutants in Project | Pixeden, 1990. Winter Holiday Party | Inkd? This is forecast to rise to Salutatorian Speech.salutatorian High, 5. 1 billion tonnes in 2050, an increase of 4. 2 billion tonnes. This is Winter Holiday Party Flyer, a forecast increase of 467%. One significant feature of the data is that, after 2010, the carbon emissions of emerging market countries is expected to Canvanizer, continue to rise, whereas the rate of increase of the emissions of richer advanced countries (OECD countries) is expected to slow down (flatten), though not to fall. After 2010, the Template, carbon emissions of non-Asian emerging market countries are expected to rise from about 1 billion tonnes to about 2. 7 billion tonnes.
OECD emissions are expected to rise from about 3. 5 billion tonnes to about 3. 7 billion tonnes over the same period. Although this is an Salutatorian Example High School.jpg excellent answer, earning all 5 of the available marks, it is worth reminding you of circumstances in which candidates drop marks unnecessarily when answering this type of question. First, candidates often fail to read the data carefully and end up quoting numbers that are too far different from those in the Extract. Second, even when the numbers quoted are accurate, candidates fail to include units of measurement (billion tonnes for Template both parts of this question, and Canvanizer a % sign for the % change in the first part of the answer). Third, in the answer to the second part of the question, it is vital to select a significant feature of the data rather than an insignificant feature. Winter Party Template | Inkd? 02A public good, such as national defence, possesses the twin characteristics of non-excludability and non-rivalry. Non-excludability means that if the good is provided to one person it is provided to all.
It is Salutatorian, impossible to exclude free-riders, i. e. eople who get the benefits without paying for the public good. Non-rivalry means that when one person benefits from the good, it does not reduce the Winter Holiday Party | Inkd, quantity of the good available for other people. The gases and pollutants that are emitted into the atmosphere and lead to global warming are both externalities and Virtual Network Based a form of Flyer Template | Inkd, public ‘bad’. (A public ‘bad’ is the opposite of a public good. People are generally prepared to pay for the removal of a ‘bad’, to avoid the unpleasantness otherwise experienced. But in the case of public ‘bads’, such as rubbish or garbage, payment can be avoided by dumping the ‘bad’ in Salutatorian Speech.salutatorian Speech, a public place, or on someone else’s property. Winter Holiday Party Template? Because of Virtual On Sdn And Iot, this, polluting gases are also externalities discharged in the course of production and consumption, for example by power stations and motorists. The unwilling victims of global warming cannot opt out of being adversely affected by the pollutants and they cannot charge a price which the polluter must pay for the emissions discharged into the atmosphere. Winter Party Flyer Template? Taxation and regulation can in principle reduce that rate at which global warming is taking place. Speech.salutatorian Speech High School.jpg? However, as Extract B explains, the emission of global-warming gases is different from the Winter Holiday, emission of many other negative externalities, for example traffic congestion. In the first place, the emission is international.
No one country acting on its own can prevent other countries from Project | Psd Web Elements | Pixeden continuing to emit gases. In the second place, the problem is historical. The atmosphere is continuing to Winter Template | Inkd, warm up as a result of Presentation | Psd Web Elements, emissions which have occurred in the past, indeed since the beginning of the Winter Holiday Party Flyer Template, industrial revolution about two centuries ago. Salutatorian Speech.salutatorian School.jpg? It may be impossible to stop continuing global warming simply by ending any further gas emissions, because pollutants already in the atmosphere will continue to contribute to global warming. And with the rapid growth of the Winter Holiday Flyer | Inkd, world’s population, it is probably impossible to keep emissions at their current level, let alone to reduce or to stop them.
This is a well-balanced answer, easily earning maximum marks — 4 marks for the snappy explanation of the meaning of a public good and 6 marks for the subsequent analysis of the 11 Amazing Resume Examples Livecareer., issue posed by the question. It is important to remember that only the final parts of context data-response questions and essay questions test the skill of evaluation. Winter Holiday Party | Inkd? Evaluation is not required in Virtual On Sdn, the answers to earlier sections of the questions, including this part. Do not be misled by the word whether, which you may think implies that answers should include some evaluation. This is not the case. 03Extract C lists a number of benefits and Holiday Flyer Template | Inkd costs that the UK economy may experience in future years as a result of Canvanizer, continuing climate change. The first of these is flash flooding. This will exclusively have adverse effects, for example the destruction of property, agricultural land, crops and animals, and the loss of human life.
The second is a decrease in heating bills. If this occurs it will benefit every UK household, though as Extract C states, the benefits are likely to be offset by Holiday Template | Inkd the increased use of energy to provide the power for Speech air-conditioning systems which will grow in use if the climate becomes stiflingly hot in Party Flyer | Inkd, summer. The extract goes on to mention that ‘with fossil fuels becoming scarcer, the need to find more environmentally friendly methods of producing energy, such as solar, wind and water power, or geothermal energy, will become ever more pressing’. It is possible to take issue with this prediction, on the ground that it is now out of date. In one important way, fossil fuels are not becoming scarcer. Vast quantities of shale gas lie beneath the earth’s crust and the technology now exists to extract and use this quite recently discovered source of fossil fuel. Methane extracted from shale gas may soon be used in place of the diminishing conventional supplies of natural gas. Shale gas can be extracted at an economic cost, and it will be used for home-heating, to replace petrol and diesel fuel, and for the provision of electricity. But is this a benefit or a cost?
It is certainly a benefit in that it will enable economic growth to continue and standards of living to rise throughout the world. But it must always be remembered that shale gas is a fossil fuel. Network On Sdn And Iot? Its use will allow global warming to continue, perhaps at an even faster rate than currently or in the past, with all the Holiday Party Flyer, possible adverse effects on Virtual Network Based And Iot, economies and on Winter Holiday Template | Inkd, human life that have been predicted. Its growing use may also help to bankrupt renewable energy industries, particularly wind energy. If this is so, shale gas will bring to a stop, or at 11 Amazing Resume Examples Livecareer. least slow down, attempts to reduce dependency on fossil fuels. Air temperature rising by 5°C may spell disaster for human-kind and life as we know it on planet earth. Extract C mentions a number of other ways in which climate change may have an Holiday Flyer impact on the UK economy. These include the decline of ski resorts in Scotland, the growth of hotel resorts in the south of the - Andrew, UK, and the effects on clothing sales, everyday food purchases, the construction industry, the Winter Holiday Party Template, types of crops grown in Free On Pinterest Design, the UK, agricultural methods of Winter Flyer | Inkd, production, and on how water is used and stored. However, in my view, all of these are relatively innocuous and are changes to Psd Showcase Project | Pixeden, which efficient markets, backed up by sensible government policy, can adapt. In conclusion, at the risk of being extremely pessimistic, I wish to return to the argument made in the previous paragraph.
Again in my view, the costs which the UK economy (and indeed most other world economies) may experience in future years as a result of continuing climate change are likely to be far greater, at least in the long run, than any likely benefits. Global warming will almost certainly increase air temperatures to Holiday Flyer Template | Inkd, a level at which human life as we have known it cannot continue. It may shift ocean currents in the North Atlantic so as to Canvanizer, make the UK climate significantly colder, despite warming elsewhere in the world. Water shortages, if not occurring in the UK, may lead to attempted mass migration of people from poor to Template, rich countries and to wars which destroy economic activity as countries fight over water and other resources and fight against inward migration of people trying to escape growing poverty and seeking a better life for themselves. The UK is likely to suffer directly or indirectly from all these results of climate change. This answer scores 16 out of 25 marks and is placed at Virtual Based On Sdn And Iot the top of Holiday Party Flyer Template, level 3 (10–16 marks). Although the candidate evaluates throughout the answer, and also in a concluding paragraph, the force of the evaluation is weakened because evaluation is not preceded by strong enough analysis.
The analysis should have focused on diagrams showing the negative and positive externalities produced by global warming. The candidate draws on Salutatorian Speech.salutatorian Speech High School.jpg, the prompts in the Extracts, but fails to analyse the implications of the prompts sufficiently. The answer veers on the side of being too superficial. Nevertheless, it is sufficiently sound to merit the top of level 3 and could possibly creep into the bottom of level 4. The grade descriptor for Template | Inkd level 3 is: A2 |AO1 Knowledge and |AO2 Application of theories,|AO3 Analysis of economic |AO4 Evaluation of Psd Showcase Presentation | Pixeden, economic | |Levels mark scheme |understanding of theories, |concepts and terminology |problems and issues |arguments and evidence, | | |concepts and terminology | | |making informed judgements | |Level 3 |Satisfactory but some |Reasonable application to |Reasonably clear but may not|Superficial, perhaps with | |10–16 marks |weaknesses shown |issues |be fully developed and is |some attempt to consider | |(mid-point 13) | |Where appropriate, |perhaps confused in places |both sides of the issue(s) | | | |reasonable use of Winter Template | Inkd, data to Top 25+ Best Ideas On Pinterest | Free, |with a few errors present | | |Reasonable including some | |support answer |The answer is quite well | | |correct analysis but very | | |organised with some logical | | |limited evaluation | | |development | |