2.9.4—Consequences of market failure
- Syllabus
- 0455–2027–2028
- Objective
- 2.9.4
- Level
- —
2.9.4—Consequences of market failure
- implications of misallocation of resources in relation to:
- the over-consumption of demerit goods and goods with external costs
- the under-consumption of merit goods and goods with external benefits
- the non-provision of public goods
- restricted supply causing higher prices under a monopoly Note: demand and supply diagrams relating to market failure are not required.
ConceptIGCSE Economics