A-LevelEconomicsThe price system and the microeconomy9708/33 · Oct/Nov 2018 · Q81 Mark

A firm abandons its policy of horizontal expansion and switches to a policy of backward vertical growth. What does this suggest is most likely about the firm's objectives? A It now prefers revenue maximisation to cost minimisation. B It now prefers sales maximisation to profit satisficing. C It now prefers security of sales to profit maximisation. D It now prefers security of supplies to growth of market share.

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2018). The mark or mark type is shown in brackets.

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, Oct/Nov 2018 Paper 3 Variant 3, question 8.

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