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1.6 Market failure

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Question 37

A person remains in education for two years. Over the full two-year period, the private benefit to the person is valued at £24,000 and the social benefit is valued at £30,000. What is the external benefit of remaining in education?

[1]
A

£30,000

B

£3,000

C

£54,000

D

£6,000

Markscheme

1.6 Market failure Questions

  1. GCSE
  2. /Economics
  3. /1.6 Market failure

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.

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