AQA A Level · 7136 · Paper 1: Markets and market failure
4.1.5.10 Efficiency: Part 1
A-level only
Everything you need for questions on static efficiency, dynamic efficiency and resource allocation, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- Four types of efficiency
- What drives each type?
- On a diagram
- Worked example
- Classic question: is dynamic efficiency more important than static efficiency?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- Profit max vs efficiency
- Which type?
- Competition vs innovation
- Efficiency trainer
- Which efficiency matters?
- Build the chain
- Exam practice
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