Economics 9708 · AS & A Level · Public goods

Public goods — practice question

(a)[8]

Using examples, explain the nature and features of free goods and private goods (economic goods), and assess the importance of the distinction between these two categories of good.

(b)[12]

Assess whether education ought to be classified as a public good or a merit good.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Free good: used without scarcity being created; there is enough to meet everyone’s needs and it has no opportunity cost” …

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