Market Failure
Akopọ
Everything you have learned so far describes a market that works. Prices rise where goods are wanted, resources follow the prices, and nobody had to be told what to do. This lesson is about the cases where that machinery gets the answer wrong: where the market produces too much of something harmful, or too little of something valuable, and keeps doing so however long it is left alone.
You will learn what economists mean by market failure, why the phrase is about a misallocation of resources rather than about anyone going bankrupt, and how to separate a private cost from a social cost. You will meet externalities, the effects that spill over onto people who were never part of the transaction, in both their negative and positive forms. And you will work through what a government can actually do about it, which is the question the specimen paper devoted its entire second section to.
Awọn Afojusun
- The meaning of market failure as misallocation of resources
- Implications of misallocation of resources
- Government intervention
- Externalities
- Defining externalities
- The difference between positive and negative externalities
Àwòrán ọpọlọ
A ti ṣe àwòrán kókó yìí kí o lè rí bí àwọn èrò ṣe so pọ̀.
Ṣí àwòrán ọpọlọ nínú áàpù
Akọ̀wé Ẹ̀kọ́
Àkọsílẹ̀ Ẹ̀kọ́ Pípé wà lórí Ohun Èlò Green Bridge
Gba ohun èlò Green Bridge CBT sórí fóònù tàbí kọ̀mpútà rẹ fún gbogbo ilé ìkàwé IGCSE: ìwé ìdánwò àtijọ́, ìlànà ìdíwọ̀n, àwòrán èrò, káàdì ìkẹ́kọ̀ọ́ àti ẹ̀kọ́ ohùn.
Ìdánwò Ẹ̀kọ́
Oriire fun ipari ẹkọ lori Market Failure. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.
Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.
Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.
- Which of the following is an example of a negative externality? A. A firm creates pollution in the production process B. A firm makes a loss and closes down C. A firm pays its workers a low wage D. A firm raises the price of its product Answer: A
- Which statement correctly describes a positive externality? A. Private benefit is greater than social benefit B. Private cost is greater than social cost C. Social benefit is greater than private benefit D. Social cost is greater than social benefit Answer: C
- Consumption of healthy food creates positive externalities. Which policy is the most appropriate government response? A. A ban on healthy food advertising B. A subsidy for producers of healthy food C. An indirect tax on healthy food D. A tradable permit scheme for healthy food Answer: B
- A firm's private cost of production is $60 per unit and the external cost is $18 per unit. What is the social cost per unit? A. $18 B. $42 C. $60 D. $78 Answer: D
- Market failure is best described as which of the following? A. A business becoming bankrupt B. A misallocation of resources by the market C. A temporary shortage of a good D. Consumers being unable to afford a product Answer: B
Ṣiṣẹ́ lórí àwọn ìbéèrè wọ̀nyí nínú ohun èlò náà
Ṣiṣẹ́ lórí àwọn ìbéèrè wọ̀nyí nínú ohun èlò náà
Awọn Iwe Itọsọna Ti a Gba Nimọran
Ṣe Adaṣe Awọn Ibeere Idanwo Adaṣe
Ṣe o fẹ ṣe adaṣe awọn ibeere idanwo adaṣe nipa Market Failure? Ṣe igbasilẹ ohun elo Green Bridge CBT lati wọle si awọn ibeere idanwo adaṣe ati awọn ayẹwo adaṣe kikun fun koko-ọrọ yii.
Ṣe igbasilẹ ohun elo naa lori Google Playstore
Gbogbo ohun ti o nilo lati ṣe dara julọ ninu JAMB, WAEC ati NECO.
