**** Exam Analysis ****
I know lots of pupils stumble over the characteristics of the different market structures, perfect competition, imperfect competition, oligopoly and monopoly.
I have found that the above table can be effective when answering questions as you just need to remember the left column, and then apply your knowledge about each Market type to relevant points.
Market Structures comes up every year and is usually question 2 in the long questions. There is nearly always a short question as well, so that means it could account for as much as 22% of your exam in June.
Beware of questions which make a statement such as "European short haul airlines operate under conditions of Imperfect competition or Oligopoly.... as the statement will often be false and you must agree or disagree as appropriate
Most years, you are asked to draw a labelled diagram of one of the market structures and explain the equilibrium position. Below I have put together diagrams with the long run position for Perfect Competition.
I know lots of pupils stumble over the characteristics of the different market structures, perfect competition, imperfect competition, oligopoly and monopoly.
I have found that the above table can be effective when answering questions as you just need to remember the left column, and then apply your knowledge about each Market type to relevant points.
Market Structures comes up every year and is usually question 2 in the long questions. There is nearly always a short question as well, so that means it could account for as much as 22% of your exam in June.
Beware of questions which make a statement such as "European short haul airlines operate under conditions of Imperfect competition or Oligopoly.... as the statement will often be false and you must agree or disagree as appropriate
Most years, you are asked to draw a labelled diagram of one of the market structures and explain the equilibrium position. Below I have put together diagrams with the long run position for Perfect Competition.
perfect_competition.pdf | |
File Size: | 186 kb |
File Type: |