ZIMSEC A-Level Economics
7Government Intervention in the Economy
Overview
Form 5 (competency matrix 8.1.7) and Form 6 (8.2.5).
In this topic
- 7.1 Sources of market failure
- 7.2 Taxation and subsidies
- 7.3 Price controls, production quotas and buffer stock
- 7.4 Direct provision and regulation
- 7.5 Privatisation, commercialisation and nationalisation
- 7.6 Wages legislation, incomes policy and land reform
- 7.7 Strengths and weaknesses of solutions to market failure
- 7.8 Central planning and decision-making in Zimbabwe
- 7.9 Cost-benefit analysis
Lessons
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Classifying goods: free, private, public, merit and demerit goods
40 min
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Externalities: private, external and social costs and benefits
60 min
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Market failure: why markets misallocate resources and why governments intervene
55 min
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Indirect taxes and subsidies: impact and incidence
50 min
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Maximum and minimum prices and buffer stock schemes
50 min
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Direct provision by government and the provision of information
55 min
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Regulation, quotas, tradable permits, property rights and nudges
60 min
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Nationalisation, privatisation and commercialisation of state enterprises
55 min
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Intervention in factor markets: wages policies, trade unions and land reform
60 min
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Government failure and evaluating intervention in markets
55 min
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Central planning and economic decision-making in Zimbabwe
50 min
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Cost-benefit analysis: weighing the full costs and benefits of a project
60 min
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Sample question
A sample question on this topic. Answer it, check it, then read the worked answer.
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