Welcome to the 43rd edition of Wednesday Wisdoms by EdGenie!

Hey Genies,

Many of you are sitting your exams now, whether it's A-Levels, AS-Levels, or Year 12 end-of-year exams.

I get asked, 'How much is exam technique worth in an exam?'

My answer? It's worth everything! It’s worth 100% of your exam.

If your exam technique is off, then your structure, explanations, evaluations, diagrams, and even your speed can be off.

This leads to lower marks.

Some INCORRECT advice I’ve heard recently includes:

• You need to draw at least 8 diagrams in your 25 markers. 🖼️
• Don’t use the most obvious points from the extracts because everyone will use them.
• Write as many points as you can in your answers. ✏️
• Don’t focus on multiple-choice questions for paper 3 (AQA and OCR). 🗒️
• Do 3 macro and 3 micro points for the paper 3 25 markers (Edexcel). 📝

This incorrect guidance is being given to hundreds of students, and it shouldn’t be.

Take control of your exam technique and what needs to be done for your exam.

Of course, I'm here to support you because you can all achieve an A/A*, but make sure to do the following:

1. Know how many marks per question and where you get the marks (knowledge, application, analysis, evaluation). 📊
2. Know how long to spend on each question. ⏳
3. Know the type of practice you need to do to prepare for the types of questions you're expecting. 🧠
4. Know the structure, number of points, and the depth in which you need to answer each of those questions. 🛠️
5. Use diagrams and context to build your answers. 📉
6. Prioritise your points and build your answers accordingly. 🔝
7. Build your analysis and specific evaluation in depth. 🔍

This is just the start. If you cover these points, you can easily nail the exams!

Trust in yourself, trust in your abilities, and take the responsibility required to excel in your exams!

You've got this!

Best,
​Emre

🧐 Prescription Fee Cap Considered: The UK's Competition and Markets Authority (CMA) is contemplating capping vets' prescription fees as part of an in-depth investigation into the veterinary sector.

🔍 Formal Probe Launched: Amidst concerns of overcharging, the CMA advances a formal probe into the veterinary market, focusing on the affordability of pet treatments.

💸 Struggling Pet Owners: Reports have surfaced of pet owners struggling with high vet bills and being uncertain about the best treatment options for their pets.

🐾 Regulation Review Welcomed: The British Veterinary Association supports the review, highlighting that current regulations are severely outdated.
📈 Pet Ownership and Costs Rising: An estimated 16 million UK households own pets, with veterinary and pet service costs increasing by 50% since 2015, significantly outpacing general inflation.

🗣️ Public Feedback: A CMA survey with 56,000 responses from pet owners, vets, and charities indicates widespread concern about potentially excessive charges.

🛑 Transparency Issues: Early findings suggest pet owners often lack basic information such as online price lists and upfront treatment costs.

🕵️‍♀️ Investigation Underway: The CMA's formal investigation could lead to direct market interventions.

📋 Tips for Pet Owners: The CMA advises looking beyond the nearest vet, exploring alternative treatments, and considering external sources for non-urgent medications.

📉 Market Dominance Concerns: The vet sector, valued at £5.7 billion annually, is increasingly dominated by a few large firms, possibly stifling consumer choice.

🚫 Illusion of Competition: Many vet practices, despite being corporately owned, retain their original branding, potentially misleading consumers about their independence.

🔎 Inquiry Focus Areas: The CMA will assess the adequacy of information for consumers, the impact of limited vet availability, profit levels, and the potential need for regulatory changes.

  🚨 Potential Remedies: Measures could include mandatory consumer information, maximum prescription fees, and possibly breaking up dominant businesses.

  😡 Abuse Towards Vets: Vets report abuse from pet owners, exacerbated by misunderstandings about veterinary costs compared to NHS treatments, high expectations from TV shows, and a lack of insurance.

Q: Explain the significance of the Competition and Markets Authority (CMA) launching a formal investigation into the veterinary sector in the UK.
A: The significance of the CMA's formal investigation into the veterinary sector lies in its potential to address concerns about high costs and lack of transparency that affect pet owners. By formally investigating, the CMA can enforce changes, ensure fair pricing, and improve consumer information, which could lead to increased competition and better services in the veterinary market.

Q:Discuss the potential impact of imposing a cap on vets' prescription fees as considered by the CMA.
A:Imposing a cap on prescription fees could potentially make veterinary care more affordable for pet owners, thus enhancing access to necessary medical treatments for pets. However, it could also lead to unintended consequences such as reduced profit margins for vet practices, which might impact the quality of services or lead to reduced investment in the sector.

Q: Analyse the reasons behind the CMA's concern about the dominance of large firms in the UK veterinary sector.
A: The CMA is concerned about the dominance of large firms in the veterinary sector because this can lead to reduced competition, which may result in higher prices and less choice for consumers. The consolidation of vet practices into a few large corporate groups could also create an illusion of competition, as these entities might continue to operate under their original names, misleading consumers about the diversity of options available.

Q: How does the increase in pet ownership and veterinary service costs since 2015 impact the economic dynamics of the veterinary market?
A: The increase in pet ownership combined with a significant rise in the cost of veterinary services has likely expanded the economic size of the veterinary market, making it a lucrative sector. However, these changes also impose financial strain on pet owners, escalating the need for regulatory scrutiny to ensure fair pricing and prevent exploitation by dominant market players.

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