Economics GCSE
Merit Good
What Merit Good means in Economics GCSE, as defined for Pearson Edexcel.
Definition of Merit Good
A good that brings unanticipated benefits to consumers and society, which would be under-consumed in a free market.
Topics that use Merit Good
- The mixed economy (Pearson Edexcel GCSE)
Related terms
Using Merit Good 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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