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3.8 Limitations of markets

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Question 17

Pesticide sprayed on farms in a region harms the bees of nearby beekeepers. The external cost is estimated at £1,250 a year for each of the 2,400 farms that spray pesticide.

Calculate the total annual external cost. Show your working.

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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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