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2 marksMarket Failure

CAPE Economics Unit 1 · 2006 · Paper 1 · Question 9(a)

Define the term 'market failure'.

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Other parts of this question

  1. 9(b)State TWO factors that account for market failure.[2 marks]
  2. 9(c)(i)State the type of market structure in an industry that is likely to produce greater output.[1 mark]
  3. 9(c)(ii)State the type of market structure in an industry that is likely to charge a higher price.[1 mark]

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