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1.3 Market failure

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Question 9

In 2023, a regional authority awarded a £1.2 million grant for the construction and maintenance of the sea wall defences at Marlow Cove.

The most likely reason for this grant is to ensure the:

exclusivity of Marlow Cove's coastal defences

provision of a private good

provision of a public good

rivalry of Marlow Cove's coastal defences

1.3 Market failure Questions

  1. A Level
  2. /Economics
  3. /1.3 Market failure