Chapter 9: International Economics: Trade, Exchange Rates and Globalisation

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

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Edexcel A-level Economics Market Structures - Authored Long Answer Questions

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

4 questions47 marks70.5 min

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4 markscalculatestandardEdexcel

E34: Evidence for Market Structures

Evidence measure with unit	2020 value	2024 value	Context or unit
market concentration ratios and price data	100.0	108.5	index or percentage as stated
UK supermarket and mobile-network market structures	baseline	changed	UK or global context
monopoly, oligopoly and contestability affecting price, output and welfare	lower impact	higher impact	directional evidence

E34A Calculate or define the key economic measure in Market Structures, using the data evidence provided for UK supermarket and mobile-network market structures.

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9 marksanalysehardEdexcel

Kinked demand curve model: oligopoly price rigidity

At the prevailing price P*, demand is kinked. Above P*, demand is elastic (rivals do not follow a price rise). Below P*, demand is inelastic (rivals match cuts). The discontinuity in MR means MC can change without affecting profit-maximising output.

E34B Using Figure 1 and your knowledge, analyse the economic effects shown by the diagram below in relation to UK supermarket and mobile-network market structures. 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

E34: Evidence for Market Structures

Evidence measure with unit	2020 value	2024 value	Context or unit
market concentration ratios and price data	100.0	108.5	index or percentage as stated
UK supermarket and mobile-network market structures	baseline	changed	UK or global context
monopoly, oligopoly and contestability affecting price, output and welfare	lower impact	higher impact	directional evidence

E34C Explain how monopoly, oligopoly and contestability affecting price, output and welfare could affect economic agents in the UK economy or global economy.

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25 marksevaluatesynopticEdexcel

E34: Evidence for Market Structures

Evidence measure with unit	2020 value	2024 value	Context or unit
market concentration ratios and price data	100.0	108.5	index or percentage as stated
UK supermarket and mobile-network market structures	baseline	changed	UK or global context
monopoly, oligopoly and contestability affecting price, output and welfare	lower impact	higher impact	directional evidence

E34D Evaluate the extent to which monopoly, oligopoly and contestability affecting price, output and welfare is likely to improve economic performance, using market concentration ratios and price data and your wider economic knowledge.

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8. Macroeconomic Policy: Fiscal, Monetary and Supply-Side Choices

10. Development, Inequality, Financial Markets and Emerging Economies

Key learning objectives

Understand the key principles behind International Economics: Trade, Exchange Rates and Globalisation.
Apply these ideas to exam-style questions.
Recall the essential definitions and key terms.