Unit 1 edexcel economics market failure
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Created by Sophie Knight
almost 9 years ago
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Created by Sophie Knight
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What are the 3 types of market failure?
What are externalities?
What is the difference between the market equilibrium and the social equilibrium?
What are the 6 consequences of negative externalities?
What are the 5 consequences of positive externalities?
How does a 'missing market' occur?
What are the 2 main characteristics of public goods?
What is the result of an information gap?
