This lesson is specially designed for JC 1 students to revise just before their promotional examinations. It is a crash course on Market Failure and Government Intervention. Students will learn merit good, demerit good, imperfect information, policies such as tax, subsidy, rules and regulation and public campaign. Students will learn important evaluation points for higher-order thinking questions to get that coveted A grade. This lesson covers a range of context such as cigarette, alcohol, gambling, traffic congestion, education, healthcare, R&D, etc.
Video 1 Duration: 1 hour 55 minutes
Video 2 Duration: 1 hour 39 minutes
Video 3 Duration: 2 hours 11 minutes