Economics – 11/26/18
I. Bellwork Q&A
https://news.bbc.co.uk/1/hi/health/7129024.stm
- a) What is the negative externality?
- b) Why is it a negative externality?
- c) What options does the government have to try and overcome/reduce the negative externality?
II Objectives
- Discuss and provide analysis of the societal impact externalities and market failures (tragedy of the commons) while also exploring possible methods to resolve these issues..
- Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence.
III. Turn in Homework
IV. Review Market Failures
V. Tragedy of the Commons Part 1 – Chalk Talk
VI. Online tonight Section 7.2 & 7.3 Quiz
VII. Classwork Page 192 Q&A #19-24
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