ZIMSEC A-Level Economics
7.1Sources of market failure
Sources of market failure in ZIMSEC 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.
- 7.1.1Explain the reasons for government intervention: public goods, externalities, market imperfections, merit and demerit goods and common property.
- 7.1.2Identify market failure in the learner's own environment.
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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Sample question
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