This is a very detailed knowledge organiser (5 pages) for the market failure unit of work for A Level Economics. It breaks down all key terminology used while examining the exam skills in great detail.
This document explores the concepts of market failure, public & merit goods, negative production & consumption externalities, positive consumption & production externalities. Together with various measures to help correct such market failures.
The booklet also looks at income inequality & redistributive measures together with analysis and evaluation points on this & all other concepts covered.
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