5 marksMarket Failure
CSEC Economics · May/June 2016 · Paper 2 · Question 6(f)
Describe how the market for cigarettes can contribute to market failure.
The mark scheme is shown once you've answered.
Practise this questionOther parts of this question
- 6(a)Define the term 'price elasticity of supply'.[2 marks]
- 6(b)List THREE characteristics of a perfectly competitive market.[3 marks]
- 6(c)Identify TWO types of market structures OTHER THAN perfect competition.[2 marks]
- 6(d)Explain the difference between an 'increase in supply' and an 'increase in quantity supplied'.[4 marks]
- 6(e)Explain TWO factors that may affect the supply of a good.[4 marks]
More practice: the rest of this paper · more Market Failure questions · all CSEC Economics past papers