The provision of health care by the public sector is inefficient and therefore all health care should be provided by firms operating in the private sector. Evaluate this comment.

Economics

IGCSE&ALevel

CAIE

Exam No：9708_w23_qp_41 Year：2023 Question No：2

Answer:

1.6.1 nature and definition of free goods and private goods (economic goods)

1.6.2 nature and definition of public goods

1.6.3 nature and definition of merit goods: under-consumption as a result of imperfect information in the market

1.6.4 nature and definition of demerit goods: over-consumption as a result of imperfect information in the market

7.3.1 definitions of productive efficiency and allocative efficiency

7.3.2 conditions for productive efficiency and allocative efficiency

7.3.3 Pareto optimality

7.3.4 definition of dynamic efficiency

7.3.5 definition of market failure

7.3.6 reasons for market failure

8.1.1.1 specific and ad valorem indirect taxes

8.1.1.10 nationalisation and privatisation

8.1.1.11 provision of information

8.1.1.12 behavioural insights and ‘nudge’ theory

8.1.1.2 subsidies

8.1.1.3 price controls

8.1.1.4 production quotas

8.1.1.5 prohibitions and licences

8.1.1.6 regulation and deregulation

8.1.1.7 direct provision

8.1.1.8 pollution permits

8.1.1.9 property rights

8.1.2.1 government failure in microeconomic intervention

8.1.2.2 definition of government failure

8.1.2.3 causes of government failure

8.1.2.4 consequences of government failure

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