Cambridge IGCSE Economics practice

Paper 2 structured question: Mixed economic system

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Paper

Marks

Topic

Mixed economic system

Exam-style question

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Paper 2Structured Questions3 marks

Evaluating government interventions

Description

Governments use various methods to correct market failures, including subsidies and regulations.

a
Discuss the effectiveness of subsidies in correcting market failures.
Your answer
Aim for approximately 3 distinct marking points.
[3]

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Paper 2Structured Questions2 marks

Description

Governments can intervene in markets to correct failures through maximum pricing, minimum pricing, indirect taxes, subsidies, and regulations.

a
Explain the concept of maximum pricing and its intended effects on the market.
Your answer
Aim for approximately 2 distinct marking points.
[2]