4.1.5 Market Structures

A quick summary of 4.1.5.5 Oligopoly of the AQA A Level Economics specification using the CGP guide, various websites, and class notes. From the AQA A Level Economics specification: • The main characteristics of oligopolistic markets. • Oligopolistic markets can be very different in relation to, for example, the number of firms, the degree of product differentiation and ease of entry. • Oligopoly can be defined in terms of market structure or in terms of market conduct (behaviour)...

A quick summary of4.1.5.4 Monopolistic competition of the AQA A Level Economics specification using the CGP guide, various websites, and class notes. From the AQA A Level Economics specification: • The formal diagrammatic analysis of the monopolistically competitive model in the short and long run. • The main characteristics of monopolistically competitive markets. • Monopolistically competitive markets will be subject to nonprice competition.

From the AQA A Level Economics specification: • The formal diagrammatic analysis of the perfectly competitive model in the short and long run. • The implications of the following for the behaviour of firms and the industry: large numbers of producers, identical products, freedom of entry and exit, and perfect knowledge. • Firms operating in perfectly competitive markets are price takers. • The proposition that, given certain assumptions, relating for example to a lack of externa...

A quick summary of 4.1.5.6 Monopoly and monopoly power of the AQA A Level Economics specification using the CGP guide, various websites, and class notes. • The formal diagrammatic analysis of the monopoly model. • That monopoly power is influenced by factors such as barriers to entry, the number of competitors, advertising and the degree of product differentiation. • The advantages and disadvantages of monopoly.