Learning objective
Explain AQA section 3.1.5.6 Monopoly and monopoly power.
Read the explanation, check the common trap, then practise with flashcards and questions.
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Flashcards
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Questions
Topic
Individuals, firms, markets and market failure
Subtopic
Perfect competition, imperfectly competitive markets and monopoly
Study support
Understand this objective
Quick explanation
Explain AQA section 3.1.5.6 Monopoly and monopoly power
- This point belongs to Individuals, firms, markets and market failure, especially Perfect competition, imperfectly competitive markets and monopoly.
- You need to be able to explain AQA section 3.1.5.6 Monopoly and monopoly power.
- The key ideas to know are monopoly.
- Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.
Key concepts
Why it matters
This objective helps connect Perfect competition, imperfectly competitive markets and monopoly to exam-style questions, flashcards, and revision notes for Individuals, firms, markets and market failure.
Quick student answer
What should an economics answer explain about aQA section 3.1.5.6 Monopoly and monopoly power?
Direct answer
For Economics, this page helps you revise aQA section 3.1.5.6 Monopoly and monopoly power in Individuals, firms, markets and market failure. Focus on the key terms, the exam command, and a clear answer that matches the question. Key terms to check are Monopoly and monopoly power and Monopoly and monopoly power application.
Key terms
- Monopoly and monopoly power: Monopoly and monopoly power is the AQA 7136 economic concept for Monopoly and monopoly power. Use it for AO1 by defining the idea accurately, then apply it to Perfect competition, imperfectly competitive markets and monopoly rather than treating the term as a loose label.
- Monopoly and monopoly power application: Monopoly and monopoly power application is the AO2 application cue for Monopoly and monopoly power. Connect it to the relevant consumer, firm, market, government, macro, policy or data context before starting analysis.
Common trap
Perfect competition, imperfectly competitive markets and monopoly common mistake 1: Show the method first, then give the final answer in the required form. Apply this directly to Perfect competition, imperfectly competitive markets and monopoly.
Related questions
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Flashcard prompts
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Revision tools
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Revision notestopic notes
Open the full topic revision notes when you are ready to review this objective in context.
Open revision notesRelated learning objectives
- Explain AQA section 3.1.1.1 Economic methodology.
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- Explain AQA section 3.1.1.2 The nature and purpose of economic activity.
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- Explain AQA section 3.1.1.3 Economic resources.
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- Explain AQA section 3.1.1.4 Scarcity, choice and the allocation of resources.
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- Explain AQA section 3.1.1.5 Production possibility diagrams.
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