A household gains a private benefit valued at £460 from fitting home insulation. Other people gain an external benefit valued at £90 from the same installation.
Calculate the social benefit created by the installation.
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.