Edexcel A Level · 9EC0 · Theme 1: Introduction to markets and market failure
1.3.4 Information gaps
Also Edexcel AS 8EC0
Everything you need for questions on information gaps, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- Key terms
- Misjudging the benefit
- How information gaps cause market failure
- Calculations
- Classic question: is asymmetric information still a serious problem?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- When sellers know more
- Over- or under-consumption?
- Diagnose the information gap
- Information gaps trainer
- How big a problem?
- Build the chain
- Exam practice
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