Small, independent fitness boutique studios face intense competition from large multinational gym chains with highly recognized global brands. In a major city centre, one such local independent studio markets its classes in the following way:
Economists frequently analyse small and large businesses through the 'structure, conduct, performance' framework and evaluate concepts such as the 'divorce of ownership from control' in larger corporate entities.
Discuss the ways in which the size of firms and the structure of the fitness/gym market might affect the conduct and performance of the firms operating within it.
136 exam-style questions on AQA A Level Economics 1.5 Perfect competition, imperfectly competitive markets and monopoly, covering 1.5.1 Market structures, 1.5.2 The objectives of firms, 1.5.3 Perfect competition, 1.5.4 Monopolistic competition (A-level only), 1.5.5 Oligopoly (A-level only), 1.5.6 Monopoly and monopoly power, 1.5.7 Price discrimination (A-level only), 1.5.8 The dynamics of competition and competitive market processes, 1.5.9 Contestable and non-contestable markets (A-level only), 1.5.10 Market structure, static efficiency, dynamic efficiency and resource allocation (A-level only), and 1.5.11 Consumer and producer surplus (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.