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Limitations of markets

A [     ] harms a third party; a [     ] benefits a third party.

A

A social cost harms a third party; a social benefit benefits a third party.

B

A positive externality harms a third party; a negative externality benefits a third party.

C

A negative externality harms a third party; a positive externality benefits a third party.

D

A private cost harms a third party; a private benefit benefits a third party.

Limitations of markets Flashcards

  1. GCSE
  2. /Economics
  3. /Limitations of markets

Flashcards for OCR GCSE Economics Limitations of markets, covering the key terms, formulae and calculations you need to recall for Component 01 and Component 02. 24 cards, matched to the OCR GCSE Economics (J205) specification. Recall questions account for roughly 35% of marks at GCSE Economics, so these target the marks you can secure before the paper starts.