1. What is market failure? 2. Why do markets fail.
List two reasons and explain them 3. Explain what an
external effect (also known as an externality) is in your own
words. 4. List four examples of
externalities 5. Explain what a social dilemma is and
list one example of a current social dilemma.
1. What is market failure? 2. Why do markets fail. List two reasons and explain them 3. Explain what an external effec
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1. What is market failure? 2. Why do markets fail. List two reasons and explain them 3. Explain what an external effec
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