Tuition Center Singapore A Level H2 H1 Economics Tuition – Costs of Production and Market Structures

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Tuition Center Singapore A Level H2 H1 Economics Tuition – Costs of Production and Market Structures

2007-2014 Compilation of A level Essay Questions 

Costs of Production and Market Structures

TYS N2013

‘Recessions put weak firms out of business whilst strong firms use a recession to become more efficient’.

• Explain the relevance of different types of cost in the decision of a firm to close when faced by a fall in the demand for its product. [10]
• Discuss the extent to which firms faced by high levels of competition are more vulnerable to closure in recession than firms in les competitive industries. [15]

TYS N2012

Internet or on-line shopping has grown rapidly in recent years. Low barriers to entry have allowed a wide range of small specialised retail firms to market their products on the internet. At the same time economies of scale have led to small number of large internet retail companies dominating the market for other products.

• Explain the existence of these two different types of online retailers and which market structure best explains the market behaviour of each of them. [10]
• Increased specialisation and low barriers to entry have an impact on consumers and existing producers. Discuss how far the traditional analysis of these economic effects applies to the growth of online shopping. [15]

TYS N2011

• Explain how the different features of monopolistic competition and oligopoly affect the price and output determination in these market structures. [10]
• Recession will affect firms in different ways depending, for example, on what they produce and the market structure in which they operate. Discuss the likely effects of a recession on different firms. [15]

TYS N2010

Retailers in Singapore supply a wide range of services and products in a variety of market structures.

• Explain the key differences between oligopolistic competition and monopolistic competition. [10]
• Consider different retailers in Singapore and discuss which of these two market structures best explain their market behavior. [15]

TYS N2009

A very popular band is due to play one concert at a 5000 capacity venue. The plan is to charge different prices according to the area in which the seat is located.

• Explain whether this pricing policy could be considered to be an example of price discrimination. [10]
• Discuss the problems that are likely to be faced in determining the prices to be charged for the seats. [15]

TYS N2008

Firms’ pricing and output decisions depend on barriers to entry and behaviour of competitors.

• Explain why barriers to entry are a key determinant of a firm’s pricing behaviour. [10]
• Discuss the extent to which the behaviour of firms depends in reality on the actions of their competitors. [15]

TYS N2007

• Explain how, in economic theory, a monopolist would determine the price that would maximise the profits. [8]
• Discuss whether firms in the real world set prices at profit-maximising levels. [17]

Please contact Mr Ong if you need the Model answers

Please contact Mr Ong @ 9863 9633 or Angie @ 96790479 if you need help in H2 H1 Economics Tuition