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Edexcel IGCSE Economics 1.2.4.g advantages and disadvantages of monopoly

Practise monopoly-evaluation questions by balancing consumer disadvantages against efficiency, innovation and quality in real cases.

Syllabus
First assessment 2019
Course
Economics 4EC1

Exam points

  • Explain a consumer disadvantage such as higher prices, less choice or weaker service.
  • Describe why monopoly profit or barriers to entry may support innovation.
  • Evaluate whether monopoly power harms consumers, balancing efficiency and quality.

1.2.4.g Advantages and disadvantages of monopoly question 1

[Maximum number: 3]

Robert is the only business specialising in handmade door signs in the local area.

Explain one disadvantage for customers of Robert being the only local firm specialising in handmade door signs.

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