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3 marksMarket Structures

CSEC Economics · May/June 2016 · Paper 2 · Question 6(b)

List THREE characteristics of a perfectly competitive market.

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Other parts of this question

  1. 6(a)Define the term 'price elasticity of supply'.[2 marks]
  2. 6(c)Identify TWO types of market structures OTHER THAN perfect competition.[2 marks]
  3. 6(d)Explain the difference between an 'increase in supply' and an 'increase in quantity supplied'.[4 marks]
  4. 6(e)Explain TWO factors that may affect the supply of a good.[4 marks]
  5. 6(f)Describe how the market for cigarettes can contribute to market failure.[5 marks]

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