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1.8 The market mechanism, market failure and government intervention in markets

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Question 85

Which one of the following distinguishes public goods from private goods?

A

Public goods: Excludable; Private goods: Non-excludable

B

Public goods: Non-rival in consumption; Private goods: Rival in consumption

C

Public goods: Funded solely through voluntary donations; Private goods: Funded solely through taxation

D

Public goods: Have no opportunity cost; Private goods: Have a high opportunity cost

Markscheme

1.8 The market mechanism, market failure and government intervention in markets Questions

  1. A Level
  2. /Economics
  3. /1.8 The market mechanism, market failure and government intervention in markets

378 exam-style questions on AQA A Level Economics 1.8 The market mechanism, market failure and government intervention in markets, covering 1.8.1 How markets and prices allocate resources, 1.8.2 The meaning of market failure, 1.8.3 Public goods, private goods and quasi-public goods, 1.8.4 Positive and negative externalities in consumption and production, 1.8.5 Merit and demerit goods, 1.8.6 Market imperfections, 1.8.7 Competition policy (A-level only), 1.8.8 Public ownership, privatisation, regulation and deregulation of markets (A-level only), 1.8.9 Government intervention in markets, and 1.8.10 Government failure. Each one has a worked solution and a mark scheme showing where the marks go.

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