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6 marksMarket Failure

CSEC Economics · May/June 2008 · Paper 2 · Question 2(d)

Market failure may have several consequences on an economy. Discuss THREE of those consequences.

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Other parts of this question

  1. 2(a)State TWO characteristics of a monopoly.[2 marks]
  2. 2(b)List THREE disadvantages of a monopoly.[3 marks]
  3. 2(c)Externalities can be positive or negative. Using an example, outline the difference between a positive and a negative externality.[4 marks]

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