Economics A-Level
Uncertainty
What Uncertainty means in Economics A-Level, as defined for AQA.
Definition of Uncertainty
Check what you remember
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Reference: AQA
Arises because firms cannot perfectly predict the reactions of their rivals to strategic moves.
Topics that use Uncertainty
- Oligopoly (AQA A-Level)
Related terms
- Barriers to entry
- Cartel
- Cartels
- Collusion
- Concentration ratio
- Concentration ratios
- Cooperation
- Dynamic efficiency
Using Uncertainty in the exam
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