AQA ECONOMICS GCSE UNIT 12: Impact of Market Dominance on Consumers
- Created by: Megan Foxen
- Created on: 29-05-13 20:40
AQA ECONOMICS GCSE UNIT 12: Impact of Market Dominance on Consumers |
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Advantages
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Disadvantages
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EvaluationOverall, due to market dominance consumers mainly be worse off, This is because if a firm knows they have dominance over a market, and know there is consumer demand, they will increase prices to improve their profit margin and due to the lack of choice and substitutes, consumers are forced into continuously paying the high prices. This means that with the same amount of money, consumers will be able to buy less than they used to. |
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