Economics – 4/29/14

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 the purpose of legislation which constrains the functions of  business structures.
• Examine the role of the government  and legislation in correcting market failures.

III.  Notebook Work/Discussion (ALL OF THESE ARE ON THE QUIZ)

• Pg. 186 – Copy Figure 7.3  
• Pg. 191 – Copy Roles of Government-Map & (Discuss each role)
• Pg. 187  Federal Government Regulatory Agencies and their responsibilities.

IV.  Video & Discussion

• AntiTrust
• OSHA Poster & https://www.osha.gov/

V.  Classwork

A.  Guided Reading 7-3

B.  Obama moves to curb car emissions

1. What is the market failure that the government is trying to reduce?
2. How is the government attempting to fix the failure?
3. How effective do you believe this policy is likely to be in reducing the market failure?

IV.  Section 7.2 & 7.3 iLearn Quiz Today through Thursday @ 4:45

Economics W2014