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Cambridge IGCSE Economics practice

What is a primary effect of having many firms in a competitive market?

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Show answerMarket structure revisionRevise the key idea

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MCQ

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cambridge_mcq

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Topic

Market structure

Exam-style question

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What is a primary effect of having many firms in a competitive market?.

  1. A.Higher prices
  2. B.Lower prices
  3. C.No effect on prices
  4. D.Increased regulation

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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]