Cambridge IGCSE Economics
2.9Market failure
Market failure in Cambridge IGCSE Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic37 practice questions2 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 2.9.1Define market failure.
- 2.9.2Define public, merit and demerit goods, private, external and social costs and benefits, and monopoly.
- 2.9.3Explain the causes of market failure.
- 2.9.4Explain the consequences of market failure: over- and under-consumption, non-provision of public goods and monopoly restricting supply (no diagrams).
Lessons
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Market failure: public, merit and demerit goods
25 min
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Private, external and social costs and benefits
30 min
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Sample question
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