Economics Department
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Economics Department |
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Market failure essays
This week's essay
(a) Explain what is meant by:
(i) Public goods (ii) Merit goods (10 marks)
(b) Discuss the arguments for the government providing public and merit goods free of charge (10 marks)
Other essays
1 (a) In what sense does tobacco consumption involve an externality? (10 marks) (b) Contrast taxation and advertising as ways to reduce tobacco consumption. (10 marks) 2 (a) How does education involve an external benefit? (10 marks) (b) Should education be provided free of charge or just subsided? (10 marks)
3 (a) Outline the main characteristics of a free market economy and outline the main advantages of market forces as a means of allocating resources (10 marks) (b) Discuss whether health care and education should be provided solely through the free market (10 marks)
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