Chapter 6: Market Structures, Competition and Regulation

A-level EconomicsAQA / OCR / Pearson Edexcel / WJEC Eduqas12 topicsHigher

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Edexcel A-level Economics Business Growth - Authored Long Answer Questions

Examiner-style long-answer practice with automatic marking, improvement advice and ProofCoach tracking.

4 questions47 marks70.5 min

standard / hard / synoptic

4 markscalculatestandardEdexcel

E31: Evidence for Business Growth

Evidence measure with unit	2020 value	2024 value	Context or unit
market share and revenue data for large UK firms	100.0	108.5	index or percentage as stated
UK grocery and sportswear merger activity	baseline	changed	UK or global context
internal growth, mergers and principal-agent problems affecting firm performance	lower impact	higher impact	directional evidence

E31A Calculate or define the key economic measure in Business Growth, using the data evidence provided for UK grocery and sportswear merger activity.

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9 marksanalysehardEdexcel

Long-Run Average Cost: economies and diseconomies of scale

As output rises, average cost falls due to economies of scale (specialisation, bulk buying). Beyond the minimum efficient scale, diseconomies of scale cause average cost to rise (management inefficiency, communication problems).

E31B Using Figure 1 and your knowledge, analyse the economic effects shown by the diagram below in relation to UK grocery and sportswear merger activity. In your answer, identify the model, curve labels, any shift shown and the likely impact.

Label the horizontal axis and vertical axis precisely with units.
Label the relevant curves and show the direction of shift.
Label the new equilibrium point and explain the change.

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9 marksexplainstandardEdexcel

E31: Evidence for Business Growth

Evidence measure with unit	2020 value	2024 value	Context or unit
market share and revenue data for large UK firms	100.0	108.5	index or percentage as stated
UK grocery and sportswear merger activity	baseline	changed	UK or global context
internal growth, mergers and principal-agent problems affecting firm performance	lower impact	higher impact	directional evidence

E31C Explain how internal growth, mergers and principal-agent problems affecting firm performance could affect economic agents in the UK economy or global economy.

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25 marksevaluatesynopticEdexcel

E31: Evidence for Business Growth

Evidence measure with unit	2020 value	2024 value	Context or unit
market share and revenue data for large UK firms	100.0	108.5	index or percentage as stated
UK grocery and sportswear merger activity	baseline	changed	UK or global context
internal growth, mergers and principal-agent problems affecting firm performance	lower impact	higher impact	directional evidence

E31D Evaluate the extent to which internal growth, mergers and principal-agent problems affecting firm performance is likely to improve economic performance, using market share and revenue data for large UK firms and your wider economic knowledge.

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5. Firms, Costs, Revenues, Objectives and Labour Markets

7. Macroeconomic Objectives, AD/AS and National Income

Key learning objectives

Understand the key principles behind Market Structures, Competition and Regulation.
Apply these ideas to exam-style questions.
Recall the essential definitions and key terms.