A-LevelEconomicsThe price system and the microeconomy9708/31 · May/June 2020 · Q131 Mark

Which policy is not designed to correct a market failure?

(a)A government provision of healthcare B price controls on large firms C regulations to limit smoke pollution D removing import quotas[1]

Mark scheme

Marking points from the official mark scheme (May/June 2020). The mark or mark type is shown in brackets.

On Oracle Prep you can write or photograph your own answer and have it marked by AI against this mark scheme, with feedback on what you missed.

Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2020 Paper 3 Variant 1, question 13.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

The price elasticity of demand for a firm's product is equal to one for all price changes. What would be the result o…

Which change will lower the price elasticity of supply of a product?

Jam and honey are substitutes. Honey and beeswax are in joint supply. Other things being equal, what will be the resu…

Possible policies a government might use to reduce a deficit on the current account of the balance of payments includ…

In March 2014, Sweden had a change in its Consumer Price Index of -0.6%. Which combination of policies might the gove…

What is most important for the effective operation of the division of labour in a modern economy?