Market Dynamics and Resource Allocation · Microeconomics

Market Failure and Externalities

Examines situations where the market fails to allocate resources efficiently, such as pollution or public goods.

Key Questions

  1. 1Who benefits and who bears the costs of unregulated industrial activity?
  2. 2What incentives are driving this behavior in the absence of property rights?
  3. 3How can government intervention correct inefficient market outcomes?

ACARA Content Descriptions

AC9EC12K03AC9EC12S02
Year: Year 12
Subject: Economics & Business
Unit: Market Dynamics and Resource Allocation
Period: Microeconomics

Suggested Methodologies

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