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3.8 Limitations of markets

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Question 101

Why may the market provide too little education?

[1]
A

Education creates only private costs

B

All education is supplied by monopolies

C

Demand for education is perfectly elastic

D

Some benefits are received by people other than the student

Markscheme

3.8 Limitations of markets Questions

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

127 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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