Market failure is the misallocation of resources resulting in either no equilibrium or an undesirable equilibrium from the perspective of society.  Is there one panacea governments can introduce to increase economic and social welfare or is it a combination of policies?  Is it a given that once government wield their magic wand all is remedied or can they actually worsen the situation? How many different types of government intervention can you spot?  Remember that examiners will credit candidates that use  their own examples.

For your presentation task, you are to introduce an article in the below format:

1) What is the externality you’ve researched e.g. positive/negative, consumption/production?

2) Illustrate and explain the situation fully using a welfare diagram

3) If there is any government intervention, what is it? Has it led to any unintended consequences?

4) Choose an alternative method of correcting this particular market failure and explain it it fully.

making things worse            plastic bags at the supermarket       congestion charge and ped        fracking and some unit 2minimum price of labour     one more coke please    kuwait #1 for water consumption     subsidies in the gulf                   lift the ban       speed kills                                     KD 500 for not going to school         get advice early and reduce the opp cost

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