Economics A-Level
Price making ability
What Price making ability means in Economics A-Level, as defined for AQA.
Definition of Price making ability
Check what you remember
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Reference: AQA
A firm's ability to act as a price maker, setting prices above marginal cost without losing all customers.
Topics that use Price making ability
- Monopoly and monopoly power (AQA A-Level)
Related terms
- Allocative inefficiency
- Economies of scale
- Market concentration
- Monopoly power
- Price determination
- Product differentiation
- X-inefficiency
- Advertising
Using Price making ability in the exam
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