0455.3.7.5 — objectives of firms Survival, social welfare, profit maximisation and growth.: past paper questions
Real questions on 0455.3.7.5 — objectives of firms survival, social welfare, profit maximisation and growth.
The newest 7 of 7 written questions. Open one to see it on the real paper.
- 0455/11 · October/November 2024 · Q16[1]
What is the definition of profit maximisation?
See it on the paper → - 0455/22 · May/June 2023 · Q3a[2]
Identify two objectives of private sector firms.
See it on the paper → - 0455/21 · October/November 2022 · Q4a[2]
Identify two examples of social welfare objectives of firms.
See it on the paper → - 0455/22 · May/June 2022 · Q5d[8]
whether or not a firm will benefit from an increase in its output.
See it on the paper → - 0455/21 · May/June 2020 · Q5a[2]
two objectives of firms.
See it on the paper → - 0455/23 · May/June 2020 · Q4a[2]
Define profit maximisation.
See it on the paper → - 0455/21 · October/November 2019 · Q7d[8]
Discuss whether or not increasing sales of a product will be beneficial to a firm.
See it on the paper →
What examiners said
The two most common objectives identified were profit maximisation and growth.
— Examiner report, May/June 2023, 0455/22 Q3(a) (Cambridge)
This question was generally well answered, with environmental protection by far the most popular answer given. There were, however, some excellent answers that considered other issues, such as support for charitable work and providing housing for workers.
— Examiner report, October/November 2022, 0455/21 Q4(a) (Cambridge)
The strong answers to this question made good use of economic theory. As well as economies and diseconomies of scale, candidates wrote about the advantages and disadvantages of gaining greater market power, elasticity of demand and the difference between what is produced and what is sold. In contrast, some answers just stated that a firm would benefit from an increase in its output as revenue and...
— Examiner report, May/June 2022, 0455/22 Q5(d) (Cambridge)
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