Th3.6: ^^ Quality Standards

Question 1

Monopolists will only produce high quality goods if…

Answer 1

this is the best way to maximise profits

Question 2

The government can introduce quality standards which…

Answer 2

will ensure that firms do not exploit their customers by offering poor quality

Question 3

What is the problem with quality standards?

Answer 3

it requires political will and understanding to introduce

Question 4

Give an example of a quality standard

Answer 4

the Post Office has to deliver letters on a daily basis to all areas