Spec 7136
Revise AQA A Level Economics 1.5.8 The dynamics of competition and competitive market processes with the question bank, lessons, revision guides, and flashcards.
Both the short-run and long-run benefits which are likely to result from competition. • That firms do not just compete on the basis of price but that competition will, for example, also lead firms to strive to improve products, reduce costs, improve the quality of the service provided. • The process of creative destruction.
