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1.4.1 Government intervention in markets

What is the purpose of government intervention in markets?

A

To maximise government tax revenue regardless of the effect on welfare.

B

To eliminate all private-sector production and replace markets with central planning.

C

To guarantee that every consumer pays the same price for every good.

D

To correct market failure and move output closer to the social optimum.

1.4.1 Government intervention in markets Flashcards

  1. A Level
  2. /Economics
  3. /1.4.1 Government intervention in markets

Flashcards for Edexcel A A Level Economics 1.4.1 Government intervention in markets, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 24 cards, matched to the Edexcel A A Level Economics (9EC0) specification.