Unit 2.4: Market Failure and the Role of GovernmentThis is a featured page


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Chapter 28 - Government and Market Failure: In this chapter you will learn:
  • How public goods are distinguished from private goods.
  • The method for determining the optimal quantity of a public good.
  • The basics of cost-benefit analysis.
  • About externalities (spillover costs and benefits) and the methods to remedy them.
  • How information failures can justify government interventions in some markets.

Chapter 29 - The Economics of Taxation: In this chapter you will learn:
  • The different tax philosophies and ways to distribute a nation's tax burden.
  • The principles relating to tax shifting, tax incidence, and efficiency losses from taxes.

Econ in the News - Unit 2.4 "Market Failure"



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