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Economics (AS & A Level) · Oct / Nov 2023 · Paper 12 · Question 6

9708Classification of goods and services

Some goods are over-consumed in a market economy. What is likely to be the cause of this?

  1. AConsumer surplus exceeds producer surplus.
  2. BConsumers undervalue the benefits of consuming the goods.
  3. CThere is excess supply in the market for the goods.
  4. DThere is imperfect information in the market.

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Correct answer: D. There is imperfect information in the market.

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