Economics A-Level
Government Intervention and Market Failure
What Government Intervention and Market Failure means in Economics A-Level, as defined for Pearson Edexcel.
Definition of Government Intervention and Market Failure
Evaluation of the efficacy of the National Minimum Wage (NMW), maximum wage caps, and supply-side policies designed to reduce immobility and enhance human capital.
Topics that use Government Intervention and Market Failure
- Labour market (Pearson Edexcel A-Level)
Related terms
- Labour Market Flexibility and the Gig Economy
- Wage Determination in Competitive and Non-Competitive Markets
Using Government Intervention and Market Failure in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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