AQA A Level · 7136 · Paper 1: Markets and market failure
4.1.4.7 Normal profits, supernormal profits and losses
Also AQA AS 7135: 3.1.3.5
Everything you need for questions on profit, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- Three outcomes
- Showing profit and loss
- Shutdown points
- Why profit matters
- Classic question: should a loss-making firm close down?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- Find the profit rectangle
- Normal, supernormal or loss?
- Stay open or close?
- Profit trainer
- Profit and survival
- Build the chain
- Exam practice
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