Quelpr
8 marksMarket Failure

CAPE Economics Unit 1 · 2011 · Paper 2 · Question 4(a)(i)

With the use of examples, distinguish between private costs and social costs.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 4(a)(ii)With the use of examples, distinguish between public goods and private goods.[8 marks]
  2. 4(b)Identify three pricing options that the government can employ to regulate a natural monopoly and state the effect of each option.[9 marks]

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