Unit 1 - Introduction to markets and market failure
Class notes
Theme 1: 1.4.2 Government Failure
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Course
Unit 1 - Introduction to markets and market failure
Institution
PEARSON (PEARSON)
Book
Edexcel A level Economics A Book 1
Excellent study tool to revise the Government Failure Section of the A-level Economics syllabus. This is tailored to the Edexcel specification but can also be used for other exam boards.
This is a relevant resource for both first-year and second-year students to revise or learn from and get the ...
Theme 1: 1.4.1e Other Methods of Government Interventions
Theme 1: 1.4.1d Pollution Permits
Theme 1: 1.4.1c Government Intervention in Markets and Max + Min Prices
All for this textbook (21)
Written for
A/AS Level
PEARSON (PEARSON)
Economics A
Unit 1 - Introduction to markets and market failure
All documents for this subject (195)
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Content preview
You have learnt that market failure occurs
when markets fail to allocate societies' scarce
effectively.
As a result, governments often intervene in or
allocate resources efficiently, distribute incom
more equitably and improve the overall perfo
the economy.
This happens in a mixed economy, like ours, an
take the form of:
• Indirect taxes
• Subsidies
• Maximum and minimum prices
• Pollution Permits
• State provision of public goods
• Provision of Information
• Regulation
,From the 1.4 - Government
specification... Intervention
, What
causes government
intervention in
markets to fail?
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