Economics GCSE
Dynamic efficiency
What Dynamic efficiency means in Economics GCSE, as defined for AQA.
Definition of Dynamic efficiency
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Reference: AQA
Where high profits are reinvested into research and development, potentially improving product quality and leading to innovative products.
Topics that use Dynamic efficiency
- Non-competitive markets (AQA GCSE)
Related terms
- Barriers to entry
- Consumer welfare
- Interdependence
- Market power
- Market structures
- Monopoly
- Non-price competition
- Oligopoly
Using Dynamic efficiency in the exam
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