Market Efficiency and Failure · Microeconomics
Externalities and Public Goods
Evaluating the divergence between private and social costs and benefits in the presence of spillover effects.
Key Questions
- 1What trade-offs does this policy create when addressing environmental pollution?
- 2Why does the free market fail to provide non-excludable services?
- 3Who should pay for the benefits enjoyed by third parties?
MOE Syllabus Outcomes
MOE: Market Failure - JC2MOE: Externalities and Public Goods - JC2
Level: JC 2
Subject: Economics
Unit: Market Efficiency and Failure
Period: Microeconomics
Suggested Methodologies
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