O-LevelEconomicsThe allocation of resources2281/21 · May/June 2024 · Q420 Marks

Healthcare is in the tertiary sector. Healthcare provides both private and external benefits. In 2019, there were five mergers between large US healthcare firms. As well as operating in the US, US healthcare firms operate in a number of host countries, including Singapore.

(a)Define tertiary sector using an example apart from healthcare.[2]
(b)Explain the difference between a private benefit and an external benefit of healthcare.[4]
(c)Analyse why a government may prevent a horizontal merger.[6]
(d)Discuss whether or not a foreign multinational company (MNC) will continue to produce in a host country for many years.[8]

Mark scheme

Marking points from the official mark scheme (May/June 2024). The mark or mark type is shown in brackets.

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Structured question, 20 marks.
Source: O-Level Economics, May/June 2024 Paper 2 Variant 1, question 4.

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