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5 marksMarket Failure

CAPE Economics Unit 1 · 2006 · Paper 2 · Question 4(a)(i)

Explain and give an example of each of the following terms:

Public goods

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Other parts of this question

  1. 4(a)(ii)Externalities[5 marks]
  2. 4(a)(iii)Asymmetric information[4 marks]
  3. 4(b)Explain how each of the concepts listed in 4(a) causes a market to fail.[21 marks]
  4. 4(c)(i)Taxation[5 marks]
  5. 4(c)(ii)Subsidies[5 marks]
  6. 4(c)(iii)Regulation[5 marks]

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