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Smoking costs businesses £2.1bn – Negative externality revision

Jim Riley

5th June 2009

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Smokers are costing firms £2.1bn through sickness and time wasting breaks. This article would be a great starter for revising negative externalities of smoking. Press read more for some GCSE style questions on negative externalities and market failure.

Explain what is meant by negative externalities and give an example. (3 marks)

State four types of market failure (4 marks)

‘The best way to stop people smoking is to tax them’. Do you agree with this statement? Give reasons for your answer. (6 marks)

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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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