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Economics (AS & A Level) · Oct / Nov 2023 · Paper 13 · Question 2

9708Classification of goods and services

Consumers do not use enough of a product to maximise their private benefit because they have imperfect information about the product. How would an economist classify this product?

  1. Ademerit good
  2. Bfree good
  3. Cmerit good
  4. Dpublic good

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Correct answer: C. merit good

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