Economics 0455 · IGCSE · Market failure

Market failure — practice question

At what point is production certain to damage society?

  • Awhen the private costs are greater than the private benefits
  • Bwhen the production results in externalities
  • Cwhen the social costs are greater than the private costs
  • Dwhen the social costs are greater than the social benefits

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI