AQAA LevelPaper 1June 202415 marksMicroeconomics
Explain why imperfect and asymmetric information may lead to market failure in the market for food.
Market Imperfections — AQA Past Paper Questions
3 questions on Market Imperfections (AQA specification 1.8.6) from the A-Level Economics papers, 2020–2024. Every question links to the official mark scheme at the page its answer begins on.
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AQAA LevelPaper 1June 20209 marksMicroeconomics
Extract B (lines 8–10) states: ‘many companies intentionally make it difficult to repair their products in order to increase sales. This is both economically inefficient and environmentally foolish; it imposes costs on the environment even though it may make sense for individual companies.’ With the help of a diagram, explain how the production of goods which are designed not to last long may result in market failure.
AQAA LevelPaper 1June 202015 marksMicroeconomics
Explain why imperfect information can lead to market failure.
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Try a broader term — for example monopoly, inflation, exchange rates, externalities or 25 marks.
Related topics
- 1.8.1 The Price Mechanism 2 questions
- 1.8.2 The Meaning of Market Failure 3 questions
- 1.8.4 Externalities 11 questions
- 1.8.5 Merit and Demerit Goods 3 questions
- 1.8.7 Competition Policy 4 questions
- 1.8.8 Privatisation and Regulation 4 questions
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