A-LevelEconomicsGovernment microeconomic intervention9708/33 · Oct/Nov 2019 · Q41 Mark

What arises in situations where there are costs or benefits associated with a transaction that are not fully reflected in market prices? A allocative efficiency B allocative inefficiency C productive efficiency D productive inefficiency

(a)What arises in situations where there are costs or benefits associated with a transaction that are not fully reflected in market prices? A allocative efficiency B allocative inefficiency C productive efficiency D productive inefficiency[1]

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2019). The mark or mark type is shown in brackets.

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Topic: Government microeconomic intervention, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, Oct/Nov 2019 Paper 3 Variant 3, question 4.

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