Four firms sell insulated reusable bottles. Each firm changed its bottle and then reviewed its price.
| Firm | Change to the bottle | Price per bottle | Monthly sales |
|---|---|---|---|
| P | A patterned finish was added | Rose from £20 to £24 | Fell from 1,000 to 400 bottles |
| Q | It now keeps drinks cold for 12 hours instead of 6 | Rose from £20 to £24 | Fell from 1,000 to 950 bottles |
| R | A carry strap was added | Stayed at £20 | Rose from 1,000 to 1,050 bottles |
| S | A new logo was printed on it | Fell from £20 to £18 | Rose from 1,000 to 1,300 bottles |
Which firm's results give the strongest evidence that changing its bottle has given it more freedom over its price?
Firm R
Firm Q
Firm P
Firm S
149 exam-style questions on AQA GCSE Economics 1.5 Competitive and concentrated markets, covering 1.5.1a The range of market structures, 1.5.1b Distinguishing between market structures, 1.5.2a Characteristics of a competitive market, 1.5.2b How producers operate in competitive markets, 1.5.2c The economic impact of competition, 1.5.3a Characteristics of a non-competitive market, 1.5.3b How producers operate in non-competitive markets, 1.5.3c Monopoly and oligopoly, 1.5.4a The labour market and wage determination, and 1.5.4b Gross and net pay. Each one has a worked solution and a mark scheme showing where the marks go.