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Market Failure Essay Questions - Set 2

This document provides instructions for an IB 1 test on market failure. Students have 1 hour to complete the test, plus 5 minutes of reading time. They must choose one of two questions. Question 1 asks students to a) explain negative externalities of production and b) evaluate three government policies to reduce external costs. Question 2 asks students to a) distinguish between merit goods and public goods with examples and b) discuss the desirability of government providing both types of goods.

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HàLinh
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917 views1 page

Market Failure Essay Questions - Set 2

This document provides instructions for an IB 1 test on market failure. Students have 1 hour to complete the test, plus 5 minutes of reading time. They must choose one of two questions. Question 1 asks students to a) explain negative externalities of production and b) evaluate three government policies to reduce external costs. Question 2 asks students to a) distinguish between merit goods and public goods with examples and b) discuss the desirability of government providing both types of goods.

Uploaded by

HàLinh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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IB 1 Test: Market failure

Time allowed: 1 hour (and 5 minutes reading time)

CHOOSE ONE QUESTION FROM THE CHOICE BELOW

Use real world examples and diagrams where appropriate

Q1. a) Explain the concept of negative externalities of production [10 marks]


b) Evaluate three policies that may be used by government to reduce external costs of
production [15 marks]

Q2. A) Carefully distinguish between merit goods and public goods, illustrating your answer with
examples. [10 marks]
b) To what extent is it desirable that a government should provide public goods AND merit
goods? [15 marks]

IB 1 Test: Market failure

Time allowed: 1 hour (and 5 minutes reading time)

CHOOSE ONE QUESTION FROM THE CHOICE BELOW

Use real world examples and diagrams where appropriate

Q1. a) Explain the concept of negative externalities of production [10 marks]


b) Evaluate three policies that may be used by government to reduce external costs of
production [15 marks]

Q2. A) Carefully distinguish between merit goods and public goods, illustrating your answer with
examples. [10 marks]
b) To what extent is it desirable that a government should provide public goods AND merit
good? [15 marks]

IB 1 Test: Market failure

Time allowed: 1 hour (and 5 minutes reading time)

CHOOSE ONE QUESTION FROM THE CHOICE BELOW

Use real world examples and diagrams where appropriate

Q1. a) Explain the concept of negative externalities of production [10 marks]


b) Evaluate three policies that may be used by government to reduce external costs of
production [15 marks]

Q2. A) Carefully distinguish between merit goods and public goods, illustrating your answer with
examples. [10 marks]
b) To what extent is it desirable that a government should provide public goods AND merit
goods? [15 marks]

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