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1.3 Market failure

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Question 3

Since 2019, the regional assembly has allocated £45 million to construct a network of rural cycle paths. This infrastructure reduces traffic congestion and lowers carbon emissions.

What are the characteristics of a private good?

Rivalrous and non-excludable

Non-rivalrous and non-excludable

Rivalrous and excludable

Non-rivalrous and excludable

1.3 Market failure Questions

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