A-LevelEconomicsMarket Failure and Government InterventionFeb/Mar 2022Paper 1 Q161 Mark
The National Library Board of Singapore is a public sector organisation that finances and manages the state libraries. What is the most likely reason for this?
ALibraries are public goods.
BLibraries are merit goods.
CThe cost of providing library services would be greater in the private sector.
DThe opportunity cost to the public sector of providing library services is zero.
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of market failure and government intervention within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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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