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Cambridge IGCSE Economics practice

What is a characteristic of public goods?

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Show answerMarket failure revisionRevise the key idea

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Market failure

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What is a characteristic of public goods?.

  1. A.They are excludable
  2. B.They are rivalrous
  3. C.They are non-excludable
  4. D.They are always provided by the government

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Paper 2 structured question: Market failure

Paper 2Structured Questions1 marks

Description

Understanding Market Failure

Market failure occurs when the allocation of goods and services by a free market is not efficient. Key concepts include public goods, merit goods, demerit goods, social benefits, external benefits, private benefits, social costs, external costs, and private costs.

  1. a

    State one reason why market failure occurs

    Aim for approximately 1 distinct marking point.

    [1]