EcoHL P1 N05 TZ0 M

EcoHL P1 N05 TZ0 M - c IB DIPLOMA PROGRAMME PROGRAMME DU...

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c IB DIPLOMA PROGRAMME PROGRAMME DU DIPLÔME DU BI PROGRAMA DEL DIPLOMA DEL BI N05/3/ECONO/HP1/ENG/TZ0/XX/M MARKSCHEME November 2005 ECONOMICS Higher Level Paper 1 6 pages
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- 2 - N05/3/ECONO/HP1/ENG/TZ0/XX/M This markscheme is confidential and for the exclusive use of examiners in this examination session. It is the property of the International Baccalaureate and must not be reproduced or distributed to any other person without the authorization of IBCA.
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- 3 - N05/3/ECONO/HP1/ENG/TZ0/XX/M Paper Specific Markscheme In addition to the assessment criteria use the paper-specific markscheme below. Award up to the maximum marks as indicated. Examiners should be aware that candidates may take a different approach, which if appropriate should be fully rewarded. 1. (a) Explain the differences between monopolistic competition and oligopoly as market structures. [10 marks] large number of firms (m.c) versus a few dominant firms (oligopoly) differentiated product (m.c) versus differentiated or standardized (oligopoly) low barriers to entry (m.c) versus high barriers to entry (oligopoly) interdependence of firms in oligopoly comparison of the demand curves Examiners should be aware that candidates may take a different approach, which if appropriate should be rewarded. (b) Discuss the differences between a collusive and a non-collusive oligopoly. [15 marks] Collusive Oligopoly formal (cartel) or informal agreement (tacit collusion) among producers to limit competition between themselves they act as if they were a monopoly discussion of the consequences of the firms acting as a monopoly impact on consumers members may compete against each other using non-price competition regulations to prevent collusion Non-Collusive Oligopoly no agreement exists between producers existence of non-price competition with the possibility of price wars
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EcoHL P1 N05 TZ0 M - c IB DIPLOMA PROGRAMME PROGRAMME DU...

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