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Economics

Study Notes

Public Goods and Market Failure

Level:
AS, A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Public goods provide an example of market failure resulting from missing markets. Which goods and services are best left to the market? And which are more efficiently and fairly provided as collective consumption goods by the state? This is at the heart of your revision of public goods.

Check out our special revision playlist of over 60 short videos on market failure

Quasi Public Goods - Revision Video
Public Goods: 'Chains of Reasoning' - revision video

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