2.4+-+Market+Failure

=**2.4 - Market Failure**=

**__Reasons for market failure__**

 * Positive and negative externalities -
 * In Maryland (chicken farming) [[file:In Maryland.doc]]


 * Diagrams -


 * Short term and long term environmental concerns with reference to sustainable development -


 * Lack of public goods -


 * Under-provision of merit goods -


 * Over-provision of demerit goods -


 * Abuse of monopoly power -

__**Possible government responses**__

 * Legislation -


 * Direct provision of merit and public goods -

media type="custom" key="3514566"
 * Taxation -
 * Singapore Electronic Road Pricing Scheme
 * C Block -- Denise and Ching
 * media type="custom" key="3519848"
 * H Block -- Ida and Emilie
 * media type="custom" key="3722045"
 * London Congestion Charging Scheme
 * * C Block -- Laura and Patrick media type="custom" key="3495254"
 * H Block -- Ben and Grace
 * media type="custom" key="3589288"
 * Green Tax - air travel
 * C Block -- Max and Duck Won
 * H Block -- Lilyann and Jessica
 * Green Tax - Bottle Recycling
 * C Block -- Elissa and Chris


 * Subsidies -

media type="custom" key="3519894" media type="custom" key="3519886" media type="custom" key="3511914" >>> media type="custom" key="3565704"
 * Tradable permits -
 * European Carbon Emissions Trading Scheme
 * C Block -- Roy, Andrew and John
 * H Block -- Vickie and Karoliina
 * media type="custom" key="3502482"Carbon Pollution Reduction Scheme - Australia
 * *** C Block -- Jerome and Chee Hong**
 * * media type="custom" key="3519864"
 * H Block -- Christina and Lily[[file:Final Carbon Pollution Reduction Scheme (Australia).ppt]]
 * Carbon Trading Scheme US (voluntary)
 * C Block -- Crystal, David and Moly
 * C Block -- Crystal, David and Moly
 * H Block -- Stan and Jim
 * media type="custom" key="3574898"
 * CFC Trading Permits
 * C Block -- Sung Soo and Jun Ho
 * H Block -- Jimmy and Eli
 * Green Tax - Acid Rain
 * Hyun Woo and Kevinmedia type="custom" key="3503194"


 * Extension of property rights -


 * Advertising to encourage or discourage consumption -


 * International cooperation among governments -