Edexcel A Level · 9EC0 · Theme 1: Introduction to markets and market failure
1.3.2 Externalities
Also Edexcel AS 8EC0
Everything you need for questions on externalities, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- Costs and benefits
- Why markets get it wrong
- The diagrams
- Four types, and who is affected
- Calculations
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- The polluting cement works
- The flu vaccine
- Classify the externality
- Externality trainer
- Measuring and valuing externalities
- Build the chain
- Exam practice
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