Economics > QUESTION PAPER (QP) > Pearson Edexcel Level 3 GCE [Economics A Advanced Subsidiary PAPER 1: Introduction to Markets and M (All)
Pearson Edexcel Level 3 GCE [Economics A Advanced Subsidiary PAPER 1: Introduction to Markets and Market Failure]
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Use the data to support your answers where relevant. You may annotate and include diagrams in your answers. 1 Since 2015, the government has invested £74 million on a flood defence scheme in the... Calder Valley. The scheme will protect homes, businesses and jobs. (a) What are the characteristics of a private good? (1) A Non-rivalrous and excludable B Non-rivalrous and non-excludable C Rivalrous and excludable D Rivalrous and non-excludable (b) Explain why flood defences such as those in the Calder Valley are usually provided by the public sector. (3) .................................................................................................................................................................................................................................................................................... ...........................................................................................................2 The Common Agricultural Policy (CAP) is a system of minimum prices and other programmes covering farming, environmental measures and rural development. The CAP applied to British farmers before the UK left the EU in January 2020. (a) Define the term ‘minimum price [Show More]
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