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Efficiency of market equilibrium · Part 4 of 4
3 exam-style questions with model answers, plus 4 quick multi-choice questions — every question on this part of the standard, grouped by the 1 page of notes they come from.
Write a full answer before you reveal the model one. That comparison is where the learning happens.
State the four things you must cover when a question asks about the impact of a government intervention on a market.
Explain in detail what the Assessment Reports mean by 'integrating the graph into your explanation', and give two examples of the difference it makes.
A student writes: "Any government intervention in a market makes it less efficient, so governments should stay out of markets."
Discuss this statement, comparing and contrasting what the efficiency model does and does not tell us. Refer to supply and demand models in your answer.