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3.8 Limitations of markets

3.8 Limitations of markets

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Question 1

A music venue creates noise that disturbs nearby residents who do not attend its events. Explain why the noise is a negative externality.

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Markscheme

3.8 Limitations of markets Questions

  1. GCSE
  2. /Economics
  3. /3.8 Limitations of markets

31 exam-style questions on OCR GCSE Economics 3.8 Limitations of markets, covering 3.8.1 Positive and negative externalities, 3.8.2 Policies to correct externalities, 3.8.3 Impact of externality policies, and 3.8.4 Costs and benefits of externality policies. Each one has a worked solution and a mark scheme showing where the marks go.

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