Cambridge International AS & A Level Economics (9708)

7. The price system and the microeconomy

7.2 Indifference curves and budget lines

7.3 Efficiency and market failure

7.4 Private costs and benefits, externalities and social costs and benefits

7.5 Types of cost, revenue and profit, short-run and long-run production

7.6 Different market structures

7.7 Growth and survival of firms

7.8 Differing objectives and policies of firms

8. Government microeconomic intervention

9. The macroeconomy

10. Government macroeconomic intervention

11. International economic issues

Concept/A-Level CAIE Economics/A2/7. The price system and the microeconomy/7.3 Efficiency and market failure

7.3 Efficiency and market failure

Syllabus: 9708–2026–2027
Topic: 7.3
Level: A2

What you’ll learn

6 learning objectives

Choose one objective for a focused lesson, or study the complete topic.

7.3 Efficiency and market failure