One unfair mark. Now imagine it repeating.
Pressure can shrink the pattern, year after year.
What is measured? The average under-marking per affected script in each new academic cohort. Starting gap: 10 marks; correct mark: 68.
WHY THIS IS ONE OF THE WONDERS OF MARKETSCompetition turns poor performance into an economic disadvantage.
1. InefficiencyOne firm wastes resources producing the same output.
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2. Higher costsWaste reduces profit margins or pushes up prices.
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3. Better rivalsEfficient firms can charge less or earn more.
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4. Market rewardsSales and investment flow to better performers.
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5. Adapt or exitWasteful firms improve or lose ground.
THE BIG IDEA: Just as pressure reduces repeated marking errors, competitive markets can reward efficiency and squeeze out avoidable waste.