AQA AS Economics (new spec) 15 Resource Allocation, Functions of Price, Public/Private Goods

This is one of a set of 20 Powerpoints (and accompanying Notes/Key Terms sheets) that I have created for my own teaching which between them cover the entirety of the microeconomic topics in the new (linear) AQA AS Economics specification (7135). They follow the order of teaching recommended by the exam board and (generally) the AQA-approved textbook (Powell & Powell, 2015).

Key terms covered in this Powerpoint: (sections 3.1.5.1 to 3.1.5.3 of the specification):
signalling function of prices
incentive function of prices
rationing function of prices
allocative function of prices
relative prices
market failure
complete market failure aka a "missing market"
partial market
private goods
public goods
quasi-public goods (aka. non-pure public goods)
free riders
economic "goods"
economic "bads"