Economics 0455 · IGCSE · Differences in economic development between countries
Differences in economic development between countries — practice question
Andorra’s public sector is concentrating on expanding the healthcare, biotechnology and sports industries. The country has the natural benefit of being mountainous. A number of winter sports businesses in Andorra have recently joined together. This will alter the degree of competition in Andorra’s winter sports market.
(a)[2]
Define the public sector.
(b)[4]
Explain any two types of merger.
(c)[6]
Analyse how differences in healthcare provision can create differences in economic development between countries.
(d)[8]
Discuss whether competitive markets are good for consumers or not.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Part of the economy owned and/or run by the government” …