Topic: Central Economic Problems and Market Failure Essays
- Evaluate the policies that the Singapore government has adopted in the provision of education.
- Explain why the presence of traffic congestion is a source of market failure.
- Evaluate the relative effectiveness of the current measures adopted by Singapore government to reduce the problem of traffic congestion.
- Discuss whether the Singapore government currently adopts appropriate policies in the provision of healthcare services.
- Explain why market imperfections may lead to an inefficient allocation of resources.
- Evaluate the policies currently used by the Singapore government to achieve an efficient allocation of resources with market imperfections.
- Explain the terms ‘public good’ and ‘demerit good’ and how they cause markets to fail.
- Discuss the view that the Singapore government should use a policy of taxation to try to correct the market failure resulting from the existence of a negative externality.
- Discuss if the free market is the most efficient way of allocating resources in Singapore.
- Discuss whether public education in Singapore is the most effective means to improve efficiency in resource allocation for a merit good.
- Discuss whether the price mechanism is the best system for the allocation of scarce resources in the Singapore economy.
- Explain why governments might regard housing as a merit good and not a public good.
- Evaluate the current policies used by the Singapore government in the markets that fail.
- To what extent can the presence of government in the market for healthcare services improve the allocation of resources?
- Explain whether national defense and traffic lights are examples of public goods.
- Using relevant examples, explain why a government might be concerned with the presence of negative externalities.
- Using appropriate examples, explain how a private good differs from a public good and why the latter is a source of market failure.