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Northern IrelandEconomicsQuick questions
AS 1: The Market System
Quick questions on Market failure - CCEA A-Level Economics AS 1
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Distinguish between a positive and a negative externality. [2 marks]
What is q2?Show answer
Explain why a free market under-consumes merit goods such as education. [4 marks]
What is q3?Show answer
Using a diagram, explain how a positive consumption externality leads to market failure. [6 marks]
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