Contestable market Study guides, Revision notes & Summaries
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Edexcel A Level Microeconomics 2022|2023 latest updated
- Exam (elaborations) • 15 pages • 2023
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Edexcel A Level Microeconomics 2022|2023 latest updated 
Factors influencing demand for labour 
Demand for final product - if rise in output > increase in productivity 
 
Relative productivity of labour to capital - substitution effect 
£3,000 subsidy for hiring unemployed 18-24 y.o. = half UK's youth minimum wage 
 
 
 
Factors influencing supply of labour 
Cost of living 
 
Cost of gaining skills 
UK uni fees capped at £9,250 per year 
 
Number of workers 
UK raises state pension age fro...
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LIFE, HEALTH & VARIABLE ANNUITY (2-15 EXAM) QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 (100% Solved)
- Exam (elaborations) • 53 pages • 2024
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LIFE, HEALTH & VARIABLE ANNUITY (2-15 EXAM) QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 (100% Solved) Insurance concept founded on the ability to predict the approximate number of deaths or 
frequency of disabilities within a certain group during a specific time. - CORRECT ANSWERS 
Law of Averages 
An owner is worried that employees will help themselves to products on the shelf without 
paying for them. This is an example of what type of hazard? - CORRECT ANSWERS Moral 
Hazard 
Won't fly an a...
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Essay plan contestable markets
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Evaluate contestable markets
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WJEC AS Business Studies Unit 1 questions and answers
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WJEC AS Business Studies Unit 1 questions and answers 
Why do people start their own businesses? 
- To make a profit 
- To provide a good or service 
- To fill gap in the market 
- To turn a hobby into a career or business 
- To be independent/their own boss 
 
 
 
What is an entrepreneur? 
An entrepreneur is somebody who starts and runs a business. Perhaps they make a product or provide a service, the quite possibly may employ somebody to make a profit. Many Entrepreneurs are innovators, they b...
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WJEC AS Business Studies Unit 1 questions and answers, A+ content
- Exam (elaborations) • 7 pages • 2023
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WJEC AS Business Studies Unit 1 questions and answers, A+ content 
Why do people start their own businesses? 
- To make a profit 
- To provide a good or service 
- To fill gap in the market 
- To turn a hobby into a career or business 
- To be independent/their own boss 
 
 
 
What is an entrepreneur? 
An entrepreneur is somebody who starts and runs a business. Perhaps they make a product or provide a service, the quite possibly may employ somebody to make a profit. Many Entrepreneurs are innova...
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Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers
- Exam (elaborations) • 84 pages • 2023
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Arizona Life Insurance Exam 
Questions and Answers 
(Latest Update 2023) 
Verified Answers 
a whole life policy that provides a choice of dividend options include the 
following statement about dividends they accrue at a guaranteed rate 
they are deferred for one year they are not guaranteed they are guaranteed 
after the first year - Correct Answers they are not guaranteed 
When there is a named beneficiary on a life insurance policy, the death 
benefits 
1. are directed to a trustee if the i...
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Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers
- Exam (elaborations) • 84 pages • 2023
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Arizona Life Insurance Exam 
Questions and Answers 
(Latest Update 2023) 
Verified Answers 
a whole life policy that provides a choice of dividend options include the 
following statement about dividends they accrue at a guaranteed rate 
they are deferred for one year they are not guaranteed they are guaranteed 
after the first year - Correct Answers they are not guaranteed 
When there is a named beneficiary on a life insurance policy, the death 
benefits 
1. are directed to a trustee if the i...
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AD Banker Comprehensive Exam Already Passed
- Exam (elaborations) • 227 pages • 2023
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AD Banker Comprehensive Exam Already Passed 
A producer who is acting as an agent is representing: 
A 
The insured, the applicant and the beneficiary 
B 
Always the insured 
C 
The insured and the insurer 
D Always the insurer D 
In order to be valid, a contract must be between individuals considered legally able to enter into an agreement. This principle is known as: 
A 
Restricted persons 
B 
Considerations 
C 
Competent parties 
D Agreement C 
A company that is licensed to sell insurance in a...
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ECONOMICS 2302 Topic 10 Monopoly LearnAssigment
- Exam (elaborations) • 6 pages • 2023
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. Which of the following are characteristics of a contestable firm? 
 No real barriers to entry 
 A single firm 
2. A pure ______ is the only seller in a market 
Monopoly 
3. Impediments that prevent firms from entering a market or industry are known as: 
Barriers to entry 
4. Consider the market shown below 
The deadweight loss that results from monopoly production is area 
A 
5. One of the roles of a government is to limit the market power of monopolies or even to 
eliminate them entirel...
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XCEL Exam Questions with 100% Correct Answers 2023
- Exam (elaborations) • 77 pages • 2023
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Which of these is NOT considered to be a common life insurance nonforfeiture option? 
a. Cash surrender 
b. Extended term insurance 
c. Reduced paid-up insurance 
d. Life income annuity - Correct answer-d. Life income annuity 
Which of these would NOT be considered a presumptive disability? 
a. Loss of vision and speech 
b. Loss of hearing 
c. Loss of a leg or arm 
d. Loss of a leg and arm - Correct answer-c. Loss of a leg or arm 
A business will typically use which type of life insurance to cov...
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