ATARMAxxing · QCE Year 11 Economics revision notes
Markets and efficiency
Unit 2: Modified markets · Unit 2 Topic 1
What this note covers
- Three kinds of efficiency and the market structures that deliver them
- Market failure: when the optimal outcome is not the socially desirable one
- Public goods, immobile factors and other causes of failure
- Modifying markets: tools, data and the unintended consequences
4 sections · 10 key terms & formulas · 5 common mistakes
Common questions
What does the QCE Year 11 Economics note "Markets and efficiency" cover?
This note has 4 sections on Markets and efficiency. It includes 10 key terms and formulas, plus 5 common mistakes. It covers U2, Unit 2 Topic 1. The full section list is shown under “What this note covers”.
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2 original practice exams with worked solutions, 7 revision notes, 70 practice questions and 84 flashcards.
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