Slide 1ROLE OF GOVERNMENT IN A MARKET ECONOMY Slide 2 Discussion With a partner, brainstorm ideas about what the government should do or what functions the government should…
Slide 1 The role of government in economics Governments have two economic functions: 1. Enforce property rights and provide legitimate means for the redistribution of income…
Lesson 12 Market Failure Market prices usually reflect the benefits and costs received by the producers and consumers involved in an exchange. A kind of market failure occurs…
Market Failure Market Failure Types of Market Failure Learning Objective: describe the concept of market failure and explain the reasons for its occurrence define private…