Table 1 shows annual sales in a country's market for laundry detergent.
| Producer | Annual sales (£ million) |
|---|---|
| A | 340 |
| B | 260 |
| C | 190 |
| D | 110 |
| All other producers combined | 100 |
| Total market | 1,000 |
Each of the four largest producers sells several detergents with different branding, scents and packaging. A new producer would need a large factory and substantial advertising before many buyers trusted its products.
Using the information provided, explain where the laundry detergent market is likely to be placed on the range of market structures.
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.