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