rice, resulting in marginal social benefit exceeding marginal private benefit ($MSB > MPB$). M1\n- Provides a relevant contextual example, such as reduced air pollution, decreased traffic congestion, or lower noise levels for city residents who do not purchase or ride the cargo bikes themselves. A1","marks":3,"order":0,"markingRubric":null,"explanation":null,"options":[]}],"options":[],"explanation":null,"firstAttemptFullMarks":null},{"id":"0db3a946-64b2-42cc-bf11-1c4fd596cde2","revisionId":"7105ec14-0dfd-43d3-a278-7c47cca453b7","questionNumber":null,"questionType":"LA","specification":"Extract B states: 'To protect low-income families, the local authority is considering implementing a cap on rental housing prices.'","difficulty":3,"difficultyBand":"medium","totalMarks":4,"sourceTitle":null,"calculatorUse":null,"parts":[{"id":"fca8eb2b-e49a-4bec-ada5-d386490dff89","label":null,"content":"Draw a supply and demand diagram to show the impact on the market for rental housing of setting a maximum price below the market equilibrium.\n\n![A supply and demand diagram showing the impact of a maximum price (P_max) set below the market equilibrium (Pe, Qe).](https://assets.mathsgenie.co.uk/aqa-qb/e6a7d289-c535-4b93-9c77-ffac7b986e49.png)","markscheme":"- Correctly labels the axes (Price/Rent and Quantity) and draws a downward-sloping demand curve ($D$) and an upward-sloping supply curve ($S$) intersecting to show the initial equilibrium price ($P_e$ or $P_1$) and quantity ($Q_e$ or $Q_1$) B1\n- Draws a horizontal maximum price ($P_{max}$ or $P_c$) line below the initial equilibrium price level B1\n- Shows the new, lower quantity supplied ($Q_s$) and the higher quantity demanded ($Q_d$) at the maximum price on the horizontal axis B1\n- Clearly identifies and labels the resulting market shortage or excess demand ($Q_d - Q_s$ or the relevant segment between $Q_s$ and $Q_d$) B1","marks":4,"order":0,"markingRubric":null,"explanation":null,"options":[]}],"options":[],"explanation":null,"firstAttemptFullMarks":null}],"subjectCode":"a_level_economics__aqa","summaries":[{"id":"004a34c6-a346-4589-a855-b66ea55b15b1","difficultyBand":"medium","calculatorUse":null},{"id":"008719d9-7cb8-4a74-85a3-959bbff213e2","difficultyBand":"medium","calculatorUse":null},{"id":"00b1cbed-e35a-4cff-8264-ce9636fa2004","difficultyBand":"medium","calculatorUse":null},{"id":"00f0774c-2446-49a2-95ae-755a7467de0c","difficultyBand":"medium","calculatorUse":null},{"id":"0182a14b-1f3a-4e89-b064-83756d1f459c","difficultyBand":"easy","calculatorUse":null},{"id":"019ebe54-44ee-42d8-a771-847d16c24a5f","difficultyBand":"hard","calculatorUse":null},{"id":"02b2c9fa-a3af-43ea-8621-d8470dd0e0cb","difficultyBand":"medium","calculatorUse":null},{"id":"030880f8-8f21-4dd6-80ce-bee71828e05e","difficultyBand":"easy","calculatorUse":null},{"id":"034dd7f7-98b2-4795-bd01-ec8bd88eeea9","difficultyBand":"easy","calculatorUse":null},{"id":"038778f0-c76e-4ae5-abc0-43f3586178e2","difficultyBand":"easy","calculatorUse":null},{"id":"0395a297-9f0d-4e45-8182-5c215df5a111","difficultyBand":"medium","calculatorUse":null},{"id":"04258e29-47d8-4d44-b0d8-bf29218b415c","difficultyBand":"hard","calculatorUse":null},{"id":"0430d4a3-f4f6-439c-a5fb-e5a3f38db5bd","difficultyBand":"medium","calculatorUse":null},{"id":"0454d8e1-5dcf-4f50-b43e-feba345dd8b0","difficultyBand":"medium","calculatorUse":null},{"id":"04598d94-4395-48f9-bcc7-c08494f66ce3","difficultyBand":"easy","calculatorUse":null},{"id":"04dd70bc-a4f8-4ae0-98d2-4f6bb41587f1","difficultyBand":"easy","calculatorUse":null},{"id":"057326f3-7a74-4fcb-8740-dce3c21b0418","difficultyBand":"easy","calculatorUse":null},{"id":"06b06730-b6e3-401e-8595-ced599041ac0","difficultyBand":"hard","calculatorUse":null},{"id":"06e96539-7541-4740-8027-2d37191b3b4c","difficultyBand":"easy","calculatorUse":null},{"id":"07f151cf-5e70-4a89-a117-0b8c6d8d0309","difficultyBand":"easy","calculatorUse":null},{"id":"08828f3f-95f7-4cc3-ba5c-043f2e8dcd4e","difficultyBand":"easy","calculatorUse

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

Question 11

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

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

Question 11

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