Economics A-Level
Contestability
What Contestability means in Economics A-Level, as defined for AQA.
Definition of Contestability
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Reference: AQA
Increases when barriers to entry are lowered, forcing incumbent firms to minimise costs.
Topics that use Contestability
Related terms
- Allocative efficiency
- Asymmetric information
- Economic performance
- Efficiency
- Government failure
- Monopoly power
- Natural monopolies
- Privatisation and Nationalisation
Using Contestability in the exam
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