Help Plz (1 Viewer)

[steve_ell]

Hey, i have this assignment on enviromental economics. in particular how the market failure has helped lead to the dipletion of the ocone layer.

does n e one have n e ideas on this topic. in particular i need a few diagrams of how market failure works... does n e one have n e info or can point me in the right direction. thanx

 

[ToO LaZy ^*]

firstly, if it's an essay, define the key terms
market failure: occurs whenever there are external costs and benefits associated with the production or consumption of a product (updated economics- john bulmer)

tips/points to consider:

• expand on how prices do not incorporate all the social costs of production (eg air pollution from petrol is not reflected in its price)
• social, private and economic cost of market failure

explain what/how government policies are used to improve the situation and how effective it is (try and find a real world example- teachers dig that shit )