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WJEC · GCSE · Economics

Market Structures
Practice Questions

40 WJEC GCSE Economics questions on Market Structures, each with instant feedback and a full examiner-style mark scheme.

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✨ Revision guide includes key terms, worked examples and exam technique for Market Structures.

Try 2 sample questions on Market Structures

Question 1 · 1 mark · Difficulty 1/3

A market dominated by a single seller with no close substitutes is called a:

  1. Duopoly
  2. Monopoly
  3. Oligopoly
  4. Perfect competition
Show answer & explanation
✓ Answer: BMonopoly
A monopoly is a market with one firm supplying the entire market, protected by high barriers to entry.
Question 2 · 1 mark · Difficulty 1/3

Which market structure has a very large number of small firms selling an identical (homogeneous) product?

  1. Perfect competition
  2. Monopoly
  3. Oligopoly
  4. Monopolistic competition
Show answer & explanation
✓ Answer: APerfect competition
Perfect competition is characterised by many small firms, an identical product, free entry and exit, and perfect knowledge.
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20 questions · 25 min · free

WJEC GCSE Economics: Market Structures FAQ

Is Kramizo free for WJEC GCSE students preparing for Economics?
Yes — completely free. Every student gets 45 questions a day on the free plan, with no card required and no trial countdown. That free quota works across every subject and every topic in our bank, so you can mix Market Structures practice with other Economics topics or even switch to a totally different WJEC subject without paying anything. Kramizo's optional Pro plan removes the daily cap and adds detailed progress analytics, but the free tier is the real product — used by thousands of GCSE, IGCSE and CSEC students.
Are the Market Structures questions aligned to the official WJEC GCSE Economics syllabus?
Every question is written against the published WJEC GCSE Economics specification, including the exact command words (state, describe, explain, calculate, evaluate, etc.), mark allocations, and difficulty tier you'd see on a real WJEC paper. Explanations are written in the style of official examiner mark schemes — they tell you what is being awarded marks and why distractors are wrong, not just whether you got it right. The bank is continually refined to match the latest syllabus updates from WJEC.
How is Market Structures typically tested on WJEC GCSE Economics papers?
Market Structures appears across multiple question types on real WJEC GCSE Economics papers — most commonly as multiple-choice questions in the objective section, structured short-answer questions in the main paper, and occasionally as part of an extended response. Kramizo's practice bank reflects that mix: 4-option MCQs, true/false statements, fill-in-the-blank key terms, multi-select questions, and ordering questions. Working through the bank gives you exposure to every question style examiners actually use.

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