Market Failure

Topic: Central Economic Problems and Market Failure Essays

  1. Evaluate the policies that the Singapore government has adopted in the provision of education.
  2. Explain why the presence of traffic congestion is a source of market failure.
  3. Evaluate the relative effectiveness of the current measures adopted by Singapore government to reduce the problem of traffic congestion.
  4. Discuss whether the Singapore government currently adopts appropriate policies in the provision of healthcare services.
  5. Explain why market imperfections may lead to an inefficient allocation of resources.
  6. Evaluate the policies currently used by the Singapore government to achieve an efficient allocation of resources with market imperfections.
  7. Explain the terms ‘public good’ and ‘demerit good’ and how they cause markets to fail.
  8. 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.
  9. Discuss if the free market is the most efficient way of allocating resources in Singapore.
  10. Discuss whether public education in Singapore is the most effective means to improve efficiency in resource allocation for a merit good.
  11. Discuss whether the price mechanism is the best system for the allocation of scarce resources in the Singapore economy.
  12. Explain why governments might regard housing as a merit good and not a public good.
  13. Evaluate the current policies used by the Singapore government in the markets that fail.
  14. To what extent can the presence of government in the market for healthcare services improve the allocation of resources?
  15. Explain whether national defense and traffic lights are examples of public goods.
  16. Using relevant examples, explain why a government might be concerned with the presence of negative externalities.
  17. Using appropriate examples, explain how a private good differs from a public good and why the latter is a source of market failure.
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