Subsection 2.10. Market failure for Economics, O Level - revisedeck

2.10. Market failure

A subsection of Economics, 2281, through 2. The allocation of resources

Listing 10 of 34 questions

What is an example of market failure?

2281_s11_qp_11

MCQ

2011

Paper 1, Variant 1

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What is an example of market failure?

2281_s11_qp_12

MCQ

2011

Paper 1, Variant 2

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In 2010, a major oil leak from an oil rig affected many people living around the Gulf of Mexico. What type of market failure did they experience?

2281_s12_qp_11

MCQ

2012

Paper 1, Variant 1

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What is an example of market failure?

2281_s12_qp_12

MCQ

2012

Paper 1, Variant 2

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What is an example of market failure?

2281_s13_qp_12

MCQ

2013

Paper 1, Variant 2

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A bee-keeper maintains hives of bees to produce honey. The bees can pollinate neighbours’ fruit trees but also give a painful sting to gardeners. If both of these events occur, how will costs and benefits be affected?

2281_s17_qp_12

MCQ

2017

Paper 1, Variant 2

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The table shows government estimates of the private and external benefits and costs of building a new dam. $ million private benefits external benefits private costs external costs What is the difference between the social benefits and social costs of building the dam?

2281_s18_qp_12

MCQ

2018

Paper 1, Variant 2

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What causes market failure?

2281_s19_qp_11

MCQ

2019

Paper 1, Variant 1

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What aspect of demerit goods means they are overproduced?

2281_s20_qp_11

MCQ

2020

Paper 1, Variant 1

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What is a cause of market failure?

2281_s20_qp_12

MCQ

2020

Paper 1, Variant 2

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Questions Discovered

34