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Chapter 16 - Market Failures and Government Intervention: Study Notes

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Productive and Allocative Efficiency

  • Equity and Fairness
    04:14
  • Productive Efficiency and Allocative Efficiency
    03:26

Externalities: Social Benefits and Social Costs

  • Guided course
    Externalities on the Graph
    14:23
  • Guided course
    Negative Externality and Positive Externality
    10:54

Public Solutions to Externalities

  • Guided course
    Public Solutions to Externalities:Quantity Limits
    04:07
  • Guided course
    Public Solutions to Externalities:Command-and-Control Policies and Corrective Pigovian Taxes and Subsidies
    16:25

The Free Rider Problem and the Tragedy of the Commons

  • Guided course
    Tragedy of the Commons
    07:34
  • Guided course
    Free Rider Problem
    06:11

Four Types of Goods and Two Characteristics

  • The Four Types of Goods: Private Goods, Club Goods, Common Resources, and Public Goods
    05:41
  • Rivalry and Excludability
    04:47