With the help of a diagram, consider whether economic efficiency can be achieved without government intervention in a market economy.
Exam No：9708_s25_qp_44 Year：2025 Question No：2
Answer:
Knowledge points:
7.3.1 definitions of productive efficiency and allocative efficiency
7.3.2 conditions for productive efficiency and allocative efficiency
7.3.5 definition of market failure
7.3.6 reasons for market failure
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
Solution:
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