Cambridge AS & A Level Economics
8.1Government policies to achieve efficient resource allocation and correct market failure
Government policies to achieve efficient resource allocation and correct market failure in Cambridge AS & A Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic67 practice questions3 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 8.1.1Apply and assess measures to tackle market failure: specific and ad valorem taxes, subsidies, price controls, production quotas, prohibitions and licences, regulation and deregulation, direct provision, pollution permits, property rights, nationalisation and privatisation, provision of information, and behavioural insights and 'nudge' theory.
- 8.1.2Define government failure and explain its causes and consequences in microeconomic intervention.
Lessons
- Full access
Government failure and evaluating intervention in markets
55 min
- Full access
Nationalisation, privatisation and commercialisation of state enterprises
55 min
- Full access
Regulation, quotas, tradable permits, property rights and nudges
60 min
Join to read every lesson, or see what Full access includes.
Sample question
A sample question on this topic. Answer it, check it, then read the worked answer.
Turn Government policies to achieve efficient resource allocation and correct market failure into a strength.
Practise with instant marking, see your mastery grow and get a study plan built around your exam date.