Paper 1: Markets and market failure June 2024, Question 9 15 marks
Explain why imperfect and asymmetric information may lead to market failure in the market for food.
Reveal mark scheme
Topic questions Microeconomics Information gaps
Information gaps
5 questions · 33 marks · about 50 minutes
Information gaps questions
TopicInformation gaps▾
AQA 7136 Information gaps 5 questions
Paper 3: Economic principles and issues June 2024, Question 2 1 mark
Reveal mark scheme
Paper 3: Economic principles and issues November 2021, Question 11 1 mark
A person is considering buying a used motorbike from a dealer on the internet. The motorbike is described as being in perfect condition and is being offered at a correspondingly high price.
In this situation, asymmetric information is most likely to lead the person to
Reveal mark scheme
Paper 1: Markets and market failure November 2020, Question 13 15 marks
Explain why imperfect information can lead to market failure.
Reveal mark scheme
Paper 3: Economic principles and issues June 2019, Question 8 1 mark
A rational, utility maximising consumer is considering the purchase of a used car. Her final choice is between two cars which are identical in all respects except for the differences shown below.
| Price | Period of guarantee against faults | |
| Car 1 | £8 000 | 3 months |
| Car 2 | £10 000 | 12 months |
Based on the above information, which one of the following is the most likely explanation for the customer’s purchase of Car 2? She
Reveal mark scheme
Report a problem with a question on this page
Memes
Certified Economics memes. Peer-reviewed by nobody.
Laugh now. Cry in the exam hall later. Then come back and do a past paper.
Draw a labelled diagram
Write ‘it depends’ and leave
Drawing supply and demand🧠
Shifting the curve the right way🧠
Knowing what PED actually means🧠
Writing ‘it depends’ and getting full marks for it🧠
Mum 💖
did you revise economics today?? 🥰
the opportunity cost was too high
sounds expensive 😬
📱 Screen time this week · TikTok6h 40m
Economics starter pack
📈Graph with unlabelled axes📰News article you never read🤷‘It depends’ as a whole answer🥷This website