7 questions on Oligopoly (AQA specification 1.5.5) from the A-Level Economics papers, 2017–2022. Every question links to the official mark scheme at the page its answer begins on.
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Extract E (lines 16–17) states that, ‘Supermarkets set prices interdependently, and price wars look very likely.’ With the help of a diagram, analyse the impact on grocery consumers of interdependence between supermarkets.
Extract E (lines 17–19) states that, ‘the price gap between discounters and conventional supermarkets is now about 10–12%, against more than 20% a few years ago.’ Evaluate the view that the supermarket sector is serving customers' interests well.
To what extent do the data support the view that Boeing has been more successful than Airbus since 2014? You must use the data in Extract B to support your assessment.
Extract C (lines 1–3) states: ‘The market for most generic drugs is oligopolistic, with just two or three manufacturers making each product. This enables significant economies of scale within firms, but also presents the risk of consumer interests being harmed.’ Using the extracts and your knowledge of economics, assess the view that the market structure of the pharmaceutical industry is damaging for consumers.
Extract B (lines 4–6) states that ‘banks do not feel enough pressure to compete on price or quality, leading some to call for the Big Four to be split into a number of smaller banks.’ Use the extracts and your knowledge of economics to assess the view that the government should intervene further in the banking sector to promote greater competition.
After considering Extract E, and the original evidence in Extracts A, B, C and D, would you recommend to the members of OPEC that they continue to restrict the supply of oil to try to raise the world market price of oil? Justify your recommendation.
Using the data in Extract A (Figure 1), calculate the three-firm concentration ratio in the UK parcels delivery market. Give your answer, as a percentage, to one decimal place.
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