Economics A-Level
Market assumptions
What Market assumptions means in Economics A-Level, as defined for AQA.
Definition of Market assumptions
Check what you remember
Read the wording for your board, then hide it and explain Market assumptions in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Large numbers of producers, identical products, freedom of entry and exit, and perfect knowledge dictate specific behaviours for individual firms and the wider industry.
Topics that use Market assumptions
- Perfect competition (AQA A-Level)
Related terms
- Allocative efficiency
- Average revenue
- Barriers to entry
- Dynamic adjustment
- Dynamic efficiency
- Economic efficiency
- Externalities
- Labour markets
Using Market assumptions in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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