AQAA LevelPaper 1June 202315 marksMicroeconomics
Explain how market contestability affects the performance of an industry.
Contestable and Non-Contestable Markets — AQA Past Paper Questions
3 questions on Contestable and Non-Contestable Markets (AQA specification 1.5.9) from the A-Level Economics papers, 2018–2023. Every question links to the official mark scheme at the page its answer begins on.
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AQAA LevelPaper 1June 20219 marksMicroeconomics
Extract B (lines 9–10) states: ‘After the monopoly’s patent expires, other companies can manufacture and market the same drug under its generic name, usually at a lower price.’ With the help of a diagram, explain why prices of pharmaceutical drugs supplied by a monopoly are likely to be higher than in markets which are more competitive.
1.5.6 Monopoly and Monopoly Power · 1.5.9 Contestable Markets
AQAA LevelPaper 1June 20189 marksMicroeconomics
Extract C (lines 10–11) states that ‘There is ample opportunity for new players to enter the sector.’ With the help of a diagram, explain how the lowering of barriers to entry in the banking market might lead to lower prices and a situation in which banks make normal profit.
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Try a broader term — for example monopoly, inflation, exchange rates, externalities or 25 marks.
Related topics
- 1.5.1 Market Structures 2 questions
- 1.5.2 The Objectives of Firms 2 questions
- 1.5.4 Monopolistic Competition 3 questions
- 1.5.5 Oligopoly 7 questions
- 1.5.6 Monopoly and Monopoly Power 5 questions
- 1.5.7 Price Discrimination 2 questions
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