Economics 9708 · AS & A Level · Government intervention in markets
Explain why this flood defence barrier is likely to satisfy the characteristics of a public good.
Education and healthcare are regarded as merit goods. Discuss why merit goods are supplied by both the private sector and the public sector.
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Knowledge/understanding: distinguishing a private good from a public good by reference to excludability” …