AP Notes, Outlines, Study Guides, Vocabulary, Practice Exams and more!

Market failure

Tragedy of the Commons

Subject: 
Biology
Rating: 
0
No votes yet
SocialTags: 
Land use
Science
Game theory
Market failure
Environmental economics
Sociology
Economics
Tragedy of the commons
Human geography
Garrett Hardin
The commons
William Forster Lloyd
Tags: 
Tragedy of the Commons

Foreign Policy: What happens after Gadhafi? (CNN Opinion) After Gadhafi, the first challenge will be security. Failure to maintain public order is what got us into big trouble in Iraq, where Saddam Hussein?s ?stay behind? operation stirred civic unrest and destroyed government buildings. The murder in Libya last month of the overall rebel commander is a reminder that internecine warfare among the more than forty-five rebel militias is a real possibility. People who lost family and tribal members to the Gadhafi regime may seek to settle scores. Former regime elements may seek to defend themselves and to ?privatize? state assets. Criminals will see opportunities to traffic in arms, drugs and even people.

Externalities

Subject: 
Economics
Rating: 
0
No votes yet
SocialTags: 
Environmental economics
Digital media
Externality
Market failure
Economics
World Wide Web
Internet
CNote
Terminology
Technology

Day 7 Spillover or Externality: When the price paid for a good does not cover ALL the costs of use (e.g. gasoline) (they don?t go away, they exist and always are there and are paid for one way or another) Costs thus ?spill over? to 3rd parties who then must pay (negative) Are OVERPRODUCED Supply shifts to the left -> Taxes, Lawsuits, Fines, Regulations Economic activity that produced external benefits will tend to be under-produced. The demand curve which measures only private benefits, will not accurately reflect all benefits. The school subsidizes Aposhian to get the flu shot. List of every different kind of tax you pay in February: sales - 8.5%; regressive (burdens lower more than higher) corporation income - 34%; capital gains payroll

externalities

Subject: 
Economics
Rating: 
0
No votes yet
SocialTags: 
Economics
Market failure
Law and economics
Environmental economics
Externality
Ronald Coase
Coase theorem
Externalities- When an economic transaction happens there are spillovers some bad and some good Spillover Costs (pollution, crime, etc) Spillover Benefits some good ( better health, quicker transportation) What should government do to externalities, when should they get involved People controlled Coase theorem- If there are no large bargaining costs, people will do what is best for both them and “community”. Lawsuits – Nuisance suits are common but do they contain spillovers? Punitive damages sometimes do the trick, but companies will always weigh activity versus cost of big lawsuit, Big tobacco, McDonalds’ coffee etc… Government action
Subscribe to RSS - Market failure

Need Help?

We hope your visit has been a productive one. If you're having any problems, or would like to give some feedback, we'd love to hear from you.

For general help, questions, and suggestions, try our dedicated support forums.

If you need to contact the Course-Notes.Org web experience team, please use our contact form.

Need Notes?

While we strive to provide the most comprehensive notes for as many high school textbooks as possible, there are certainly going to be some that we miss. Drop us a note and let us know which textbooks you need. Be sure to include which edition of the textbook you are using! If we see enough demand, we'll do whatever we can to get those notes up on the site for you!