AQA Economics A-level (specification 7135, 7136)
Includes:
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Objectives of firms; profit, sales, survival, growth, stakeholders etc.
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Divorce of ownership from control
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Allocative, productive and ‘x’ efficiency
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Growth of firms; internal vs external, horizontal vs vertical vs lateral integration
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Mergers and takeovers (and evaluation)
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Perfect competition; conditions, evaluation and price determination
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Monopolistic competition; assumptions, evaluation, comparison with PC
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Oligopolistic markets - types of collusion, impact of collusion, evaluation
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Kinked demand curve
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Anti-competitiveness, natural/artificial barriers to entry
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Monopoly power, profit maximisation, barriers to entry, evaluation
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Analysing efficiency, social burden triangle
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Price discrimination, conditions and evaluation
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Contestable markets - conditions, market concentration, impact and determinants
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Consumer surplus - determinants, price elasticity
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Producer surplus - determinants
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Monopsony power and evaluation
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