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2 marksMarket Failure

CSEC Economics · May/June 2010 · Paper 2 · Question 5(b)

List TWO consequences of a market failure.

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Other parts of this question

  1. 5(a)Define the term 'market structure'.[2 marks]
  2. 5(c)State THREE characteristic features of a monopoly.[3 marks]
  3. 5(d)(i)Discuss TWO factors that would affect the elasticity of demand for wheat.[4 marks]
  4. 5(d)(ii)With the aid of a diagram, identify TWO possible effects of a shift to the left of an original supply curve, with the demand curve remaining the same.[4 marks]
  5. 5(e)Explain TWO consequences of having a cartel in the energy sector.[5 marks]

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