Edexcel A Level · 9EC0 · Theme 1: Introduction to markets and market failure
1.3.1 Types of market failure
Also Edexcel AS 8EC0
Everything you need for questions on types of market failure, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- What is market failure?
- The three types
- Key ideas
- Classic question: which type of market failure is most serious?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- Which type of failure?
- Rival? Excludable?
- Too much paint
- Market failure trainer
- How bad is market failure?
- Build the chain
- Exam practice
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