Bees dont just make honey

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Bees dont just make honey!

• Feedback on exam practice

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Aims of today

• For you to understand the exam board marking
  criteria so that you can boost your
  marks/grades.
• To further your understanding of K, Ap, An Ev
  skills needed
• To show you the range of terminology that you
  have covered and NEED to use in your answers!
• Essential to include diagrams where relevant!

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Priority of this feedback

• For you to make notes on how you could have
  improved your answers
• Focus on where the EVALUATION marks are awarded!

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1) As a result almond prices are soaring to
over 3 per pound. With reference to the data
and using a supply demand diagram, explain why
this happened. (7 marks)

• Diagram. Must show
• original equilibrium (1)
• Inward shift in S (1)
• New equilibrium (1)
• Movements on axis (-1 if not present)
• LABEL ALL CURVES! no labels no marks!

Worth 3 marks
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1) As a result almond prices are soaring to over
3 per pound. With reference to the data and
using a supply demand diagram, explain why this
happened. (7 marks)

• Explanation. Must explain why prices rise
  using ec theory
• Too much waffle re-using case study story

• Ec theory
• Market shortage show on diagram
• Consumer surplus show on diagram
• Ec pressures due to shortage means that prices do
  rise!

What does this look like?
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2. Comment on the likely elasticity between
almonds and hazelnuts. (4 marks)

• Cross price elasticity identify key elasticity
  define/formula (1)
• Substitutes for each other (1)
• Positive elasticity (1)
• Because written explanation ideally using
  numerical example (1)

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3. What can you learn from the passage about the
price elasticity of supply for crops? (5 marks)

• PeS formula or definition (1)
• Inelastic PeS (1)
• Reason because (1)
• Diagram showing an inelastic S curve show the
  effect (1)
• EVALUATION. 2 marks.
• Time it takes to recover from the mite might
  make the PeS more inelastic
• Impact of mite on industry in long run if bee
  keepers

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4. Assess the likely impact of the rise in price
of almonds for consumers of confectionary
products. (10 marks)

• What do you think assess means?
• to what extent will there be an impact????

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4. Assess the likely impact of the rise in price
of almonds for consumers of confectionary
products. (10 marks)
Knowledge Application 6 marks max

• Impact higher costs (1) which will be most
  likely passed onto consumers as higher prices (1)
• Derived demand not many people D almonds but
  they are needed for other goods i.e.
  complementary link between the two goods.
• Impact on D for hazelnuts (1) show on diagram,
  ? D(3)
• Impact could be a substitution effect (1) as
  consumers swap to alternative products
• and/or an income effect (1) if they continue to
  consume but lesser quantities (1)

Evaluation 4 marks
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4. Assess the likely impact of the rise in price
of almonds for consumers of confectionary
products. (10 marks)
Knowledge Application 6 marks max

• Reference to consumer surplus (1) and diagram (3)
  
• Reference to producer surplus (1) and diagram (3)
  
• Or higher costs may be absorbed by the business
  and a fall in profits (1) for the businesses,
  which could mean an incentive to work more
  productively efficient (1) or cut back on
  other costs e.g. labour (1) so the price might
  stay the same.

Evaluation 4 marks
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EVALUATION
4 marks need to show judgement assess the
impact. (2 marks per comment developed)

• Depends on the PeD elasticity whether consumers
  would react to the change in price, whether the
  brand name/customer loyalty will help/advertising
• Depends on the YeD whether a normal or luxury
  good
• Depends on how easy it is to substitute almonds
  in the recipe!
• CPeD diagram depends on the elasticity and how
  close other substitutes are (hazelnuts)
• Depends on the level of competition in the
  confectionary market
• Depends on the frequency of the purchase of the
  good links to elasticity PeD YeD

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Good examples

• Alex G

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5. Evaluate two other likely consequences of the
spread of the varroa mite in bees. (10 marks)
Knowledge Application 6 marks max

• Increase in mite needs more investment in
  cure an increase in cost which further
  reduces S
• Possible extinction need to look at
  alternatives
• Increase in the price of hives rentals due to
  increase D a further increase in costs less
  incentive to S honey! (Diagram) CPeD
  complementary products.
• Less bees less honey
• Less cross pollination for other crops mainly
  fruit means more imports into the country
• Increase in investment in scientific research to
  find cure.

Evaluation 4 marks
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6. Assess the likely success of a state subsidy
for honey production (12 marks)
Knowledge Application 6 marks max

• Up to 3 marks for a written explanation
• 1 mark per relevant point 2 for development
• 3 marks for relevant diagram
• 6 marks for evaluation

Evaluation 6 marks
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6. Assess the likely success of a state subsidy
for honey production (12 marks)
Knowledge Application 6 marks max

• Subsidy increase in supply (1)
• Diagram to show this (3)
• Relevant points include

• Income for beekeepers to invest in replacing bee
  stock/hives
• Subsidy will help them cover the increase in
  costs
• Might encourage new beekeepers increase supply

Evaluation 6 marks
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6. Assess the likely success of a state subsidy
for honey production (12 marks)
Knowledge Application 6 marks max

• Evaluation issues
• Opportunity costs is it right to subsidise the
  beekeepers or should the govt invest in
  scientific research?
• If no cure a subsidy wont help as bees will
  eventually be extinct!
• How likely is it that new beekeepers will start
  up in business - very specialised work.

Evaluation 6marks
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Overall key skills

• You need to start with definitions or formulas
  more!
• Vital to label diagrams clearly/accurately.
• Must read over the elasticity issues its not
  just the calculations but application as well.
• Evaluation marks to gain B As.

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As for the future

• In your 1st exam you need to get into the 80
  UMS this year in both papers
• In A2 need to be in the 90 UMS boundaries
• RESIT marks dont count for an A!