A household's loft insulation has a total benefit to society valued at £74. Of this, £19 is an external benefit to other households through lower national energy demand and emissions.
What is the private benefit to the household?
£74
£19
£93
£55
83 exam-style questions on AQA GCSE Economics 1.6 Market failure, covering 1.6.1a Market failure as misallocation of resources, 1.6.1b Government intervention, 1.6.2a Defining externalities, and 1.6.2b Positive and negative externalities. Each one has a worked solution and a mark scheme showing where the marks go.