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Cambridge IGCSE Economics practice

Paper 2 structured question: Market structure

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Attempt questionMarket structure revisionRevise the key idea

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4

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Market structure

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Paper 2Structured Questions4 marks

The impact of competition on product quality.

Description

Effects of Competition on Quality

In markets with many competing firms, companies strive to improve their products to gain an edge over rivals. This often leads to better quality products for consumers.

  1. a

    Explain how competition affects product quality.

    Aim for approximately 4 distinct marking points.

    [4]

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Paper 2 structured question: Market structure

Paper 2Structured Questions1 marks

Description

Smartphone Market Competition

In the smartphone market, numerous companies compete to attract consumers by offering various models at different price points. This competition influences the overall market dynamics significantly.

  1. a

    State one effect of having many firms in the smartphone market.

    Aim for approximately 1 distinct marking point.

    [1]