Edexcel A-Level Economics AS 1.3.6 1a Purpose of Government Intervention Including Reference to Methods of Market Failure Topic Practice

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Pearson Edexcel IAL Economics

Unit 1: Markets in Action

1.3.1 - Introductory concepts

1.3.2 - Consumer behaviour and demand

1.3.4 - Price determination

1.3.5 - Market failure

1.3.6 - Government intervention in markets

1.3.6.1a - purpose of government intervention, including reference to methods of market failure.

1.3.6.1b - Methods of intervention: intervention • indirect taxation (ad valorem and specific) •

1.3.6.1c - Contexts in which governments may intervene: • health • housing • education • transport

1.3.6.2a - 'Government failure' as intervention that results in a net welfare failure loss

1.3.6.2b - Causes of government failure: • information gaps • lack of incentives • unintended

Unit 2: Macroeconomic Performance and Policy

2.3.1 - Measures of economic performance

2.3.2 - Aggregate demand (AD)

2.3.3 - Aggregate supply (AS)

2.3.4 - National income

2.3.5 - Economic growth

2.3.6 - Macroeconomic objectives and policies

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