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IGCSE Economics 0455 May June 2024 Paper 2, Variant 1 – Sample Answers and Examiner Commentary – Question 4

Question:

4 Healthcare is in the tertiary sector. Healthcare provides both private and external benefits. In 2019, there were five mergers between large US healthcare firms. As well as operating in the US, US
healthcare firms operate in a number of host countries, including Singapore.
(a) Define tertiary sector using an example apart from healthcare. [2]
(b) Explain the difference between a private benefit and an external benefit of healthcare. [4]
(c) Analyse why a government may prevent a horizontal merger. [6]
(d) Discuss whether or not a foreign multinational company (MNC) will continue to produce in a
host country for many years. [8]

Sample Answers: