Economics – 4/24/13
I. Bellwork Q&A
If a new bridge to Canada is built:
- Provide and explain an example of a negative externality.
- Provide and explain an example of a positive externality.
II. Objective
- Identify functions and constraints of business structures.
- Examine the role of the government and legislation in correcting market failures.
III. Notebook Work
- Causes of Market Failures-Map Pgs 180-181
- Copy Figure 7.3 Page 186
- Page 191 – Copy Roles of Government-Map
IV. Video & Discussion
V. Classwork
B. https://news.bbc.co.uk/1/hi/world/americas/8056908.stm
- a) What is the market failure that the government is trying to reduce?
b) How is the government attempting to fix the failure? - c) How effective do you believe this policy is likely to be in reducing the market failure?
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