Quelpr
8 marksMarket Failure

CAPE Economics Unit 1 · 2010 · Paper 2 · Question 4(b)(ii)

Using suitable examples, explain how market failure is caused by monopolies.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 4(a)Explain the term 'market failure' with special emphasis on the efficiency criterion.[4 marks]
  2. 4(b)(i)Using suitable examples, explain how market failure is caused by public goods.[8 marks]
  3. 4(c)Assess government's response to market failure caused by public goods and monopolies.[5 marks]

More practice: the rest of this paper · more Market Failure questions · all CAPE Economics Unit 1 past papers