AS & A Level Economics 9708 · Topic 3

Government microeconomy intervention (AS Level): past paper questions

242 real questions

Real questions on government microeconomy intervention (as level)

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In the syllabus

3.1 Reasons for government intervention in markets

addressing the non-provision of public goods.
addressing the over-consumption of demerit goods and the under-consumption of merit goods.
controlling prices in markets.

3.2 Methods and effects of government intervention in markets

impact and incidence of specific indirect taxes.
impact and incidence of subsidies.
direct provision of goods and services.
maximum and minimum prices.
buffer stock schemes.
provision of information.

3.3 Addressing income and wealth inequality

difference between income as a flow concept and wealth as a stock concept.
measuring income and wealth inequality: • Gini coefficient (calculation not required).
economic reasons for inequality of income and wealth.
policies to redistribute income and wealth: • minimum wage • transfer payments • progressive income taxes, inheritance and capital taxes • state provision of essential goods and services.

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