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Cambridge IGCSE Economics practice

Paper 2 structured question: Firms’ costs, revenue and objectives

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Firms’ costs, revenue and objectives

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Paper 2Structured Questions1 marks

Firms operate with various objectives that guide their strategies.

Description

Objectives of Firms

Firms may pursue objectives such as survival, social welfare, profit maximization, and growth.

  1. a

    State one objective that firms may pursue.

    Aim for approximately 1 distinct marking point.

    [1]

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Paper 2 structured question: Firms’ costs, revenue and objectives

Paper 2Structured Questions2 marks

Description

Firm Objectives

Firms may prioritize different objectives such as survival, social welfare, profit maximization, and growth.

  1. a

    Explain two objectives that firms may pursue and why they are important.

    Aim for approximately 2 distinct marking points.

    [2]