Unit 3 Business Economics and Economic Efficiency

2023 Alevel Edexcel advanced Economics A Paper 1(questions) used for the 2024 best study guide A+ guranteed!!

This essay uses chains of analysis and evaluation points to examine the types of efficiencies that a monopolistically competitive market structure firm may or may not possess.

This document goes over a short answer describing the market structure of the UK supermarket industry, under the oligopoly structure. As well as a longer answer describing the extent to which the UK supermarket industry is becoming more contestable.

This essay uses chains of analysis and evaluation to discuss the impact of the UK supermarket buying power on their suppliers.

This essay goes over 3 points evaluating the significance of diminishing marginal productivity in determining a firm's cost curves.

This essay includes 3 points evaluating the statement "A small firm is likely to be less efficient than a large firm". Mainly discussing the 3 types of efficiencies, allocative, productive and dynamic. A judgement is included as well.

This essay examines 3 points fully using chains of analysis and evaluation to discuss the extent to which price discrimination benefits producers and consumers, depending on their elasticity of demand.

This essay includes 3 fully developed points using chains of analysis and evaluation to examines the statement "Monopolies result in a misallocation of resources compares with perfect competition and should therefore be broken up.

This essay includes points using chains of analysis and evaluation to examine the extent to which a perfectly competitive firm is allocatively efficient, productively efficient and x efficient.