A-LevelEconomicsMarket Failure & Government InterventionOct/Nov 2015Paper 1 Q141 Mark
In 2011, the Health Ministry in a country encouraged parents to have their children vaccinated against measles. The parents did not have to use the vaccine and did not have to pay for it. The government cancelled other projects to fund the programme from taxation because research concluded that the vaccine benefited the community by preventing the spread of a serious illness. Which concepts are implied in the above statement?
Aexternal benefit, public sector, opportunity cost
Bmarket mechanism, fiscal policy, public good
Cmerit good, normative statement, regulatory control
Dprivate cost, social benefit, monetary policy
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of market failure & government intervention within the Economicssyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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