AQA•GCSE•Economics
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Market Failure
Types of market failure and government intervention
Practice 37 subtopics in Market Failure. All questions match the AQA GCSE specification.
About Market Failure
Market Failure is a key topic in the AQA GCSE Economicsspecification. This topic covers types of market failure and government intervention.
Master all 37 subtopics below with unlimited AI-generated questions. Each subtopic page includes sample questions and the ability to generate unlimited practice questions with detailed solutions.
All Subtopics (37)
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Definition of market failureAllocative efficiencyWhen markets failDefinition of externalitiesPrivate costs and benefitsExternal costs and benefitsSocial costs and benefitsNegative externalitiesNegative externalities of productionNegative externalities of consumptionPositive externalitiesPositive externalities of productionPositive externalities of consumptionWelfare loss from externalitiesDefinition of merit goodsExamples of merit goodsUnder-consumption of merit goodsDefinition of demerit goodsExamples of demerit goodsOver-consumption of demerit goodsInformation failureDefinition of public goodsCharacteristics of public goodsNon-excludabilityNon-rivalryFree rider problemExamples of public goodsReasons for government interventionIndirect taxationEffect of indirect taxes on marketsSubsidiesEffect of subsidies on marketsMinimum pricesMaximum pricesState provisionRegulation and legislationGovernment failure
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