Skip to content

Course home

2.5 Competition

2.5 Competition

EasyMediumHard
12345678910
Question 7

A firm does not cut its price when rivals do. Its product has many close substitutes. What is most likely?

[1]
A

Its sales rise because demand is price inelastic

B

Its costs must immediately fall

C

It loses customers to rival firms

D

Its market becomes a monopoly

Markscheme

2.5 Competition Questions

  1. GCSE
  2. /Economics
  3. /2.5 Competition

28 exam-style questions on OCR GCSE Economics 2.5 Competition, covering 2.5.1 Why producers compete, 2.5.2 How competition affects price, 2.5.3 Economic impact of competition, and 2.5.4 Monopoly and oligopoly. Each one has a worked solution and a mark scheme showing where the marks go.

Question bank