1.1
How would perfect markets disadvantage consumers?
(2)
1.2
Why is collusion not possible under perfect competition?
(2)
1.3
Study the extract below and answer the questions that follow.
COMPETITION TRIBUNAL APPROVES BURGER KING TAKEOVER
The Competition Tribunal has given the green light for the acquisition of Burger King
South Africa (BKSA) by a private
equity fund.
The deal was initially denied approval with the Competition Commission citing a lack
of BEE credentials
.
[Adapted from Staff Writer, 21 September 2021]
1.3.1 Identify from the extract above ONE objective of the Competition policy. (1)
1.3.2 Give ONE authority/institution of the Competition policy not mentioned in the
extract.
1.3.3 Briefly describe the concept competition as used in economics.
1.3.4 How does the competition policy save businesses in South Africa?
1.3.5 Briefly discuss the success of the competition policy of South
2.
How Perfectly Competitive Firms Make Output Decisions
(1)
(2)
(2)
(4)
(4x2) (8)
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