IB Economics HL 2.11.1 Market structures Question Bank
Practise IB Economics HL 2.11.1 by applying market structures concepts to exam-style questions.
- Syllabus
- First assessment 2022
- Course
- Economics HL
- Level
- HL
Exam points
- identify the relevant model, concept or evidence
- apply the correct subject framework to the question
- evaluate the result using clear evidence and subject terminology
2.11.1 (HL)—Market structures question 1
[Maximum number: 2]
State two characteristics of a perfectly competitive market.
Marking guidance:
Award [1] for each valid characteristic.
Characteristics may include:
- many small firms
- homogeneous product
- no barriers to entry (and exit)
- perfect information
- perfect factor mobility
- firms are price takers.
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