4 marks
Q4(a) Using the data shown, explain why poor information in Britain's used-car market misallocates resources, given 750 000 unresolved complaints yearly.
Edexcel · 9EC0 / 8EC0 / WEC11–14
Information gaps comes up in 5 questions across the Edexcel A Level, AS and International A Level past papers (9EC0 / 8EC0 / WEC11–14), worth 26 marks between them. They run from 2017 to 2025 and appear on A Level Paper 1, A Level Paper 3, AS Level Paper 1.
Tariffs run from 1 to 10 marks. The commonest instructions are Explain (3), Define (1), Assess (1). Specification points covered: 1.3.4.
Q4(a) Using the data shown, explain why poor information in Britain's used-car market misallocates resources, given 750 000 unresolved complaints yearly.
Q1(a) Give one reason why UK supermarket shoppers purchase healthy food below the socially optimum quantity.
Q6(b) Account for the way unequal information, as shown in Extract B, causes markets for health care to fail.
Q3(c) Give a short definition of asymmetric information.
Q6(d) Assess whether UK food waste stems mainly from information gaps and irrational behaviour, as Extract B suggests.
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