Econ Ch11 Government
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Econ Ch11 Government

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Econ Ch11 Government Econ Ch11 Government Presentation Transcript

  • Chapter Government 11
  • Objectives: Students will learn
    • The role the government plays in a market economy
    • The reasons for market failures
    • The results of market failures
    • The difference between public Goods and Bads
  • Making Rules
    • The government is responsible for:
      • Protecting Property
      • Maintaining Standards
      • Building Confidence
  • Market Failures
    • Caused by:
      • Imperfect competition
        • Unfair business practices
        • Monopolies
        • Price Discrimination
        • Wage Discrimination
      • Market Externalities
        • Negative externalities
    • Government Response
        • Laws
        • Taxes
        • Tax Credits
  • Imperfect Competition
    • Unfair business practices
    • Monopolies-antitrust laws
    • Price discrimination
    • FTC
    • Cease and desist orders
    • Minimum wage laws
  •  
  • Externalities
    • Externalities : social costs of actions
    • Can be negative or positive
    • Negative:
      • Noise
      • Pollution
      • Others?
    • Positive:
      • Economic Benefits
      • Free
  • Government Responses
    • Laws:
      • Antitrust Laws
      • Standards regulations
      • Bans
    • Taxes
      • Internalizing and Externality
      • Reduces consumer demand
      • Increases price of production
    • Tax Credits
      • Incentive
    How can the government make sure we get clean energy?
  • How Taxes Affect Price
    • Increases Price
    • Reduces quantity sold
    • Generates revenue for government
  • Providing Public Goods
    • Products or services that benefit the whole community
    • Enjoy benefits without paying for them
    • Examples:
        • Public Transportation
        • Parks
        • Drinking Water
        • Trash Collection
        • National Defense
        • Health Care?
  • Government in Charge
    • Government Monopoly
    • Electricity
    • Gas
    • Mail
    • Subsidies
    • Farming
    • Environmental protection
    • Sports Stadiums
    • Medical Research
    • Space Exploration
  • Public Bads
    • Negative externalities
      • Pollution
      • Dangerous substances
        • Drugs
        • Alcohol
        • Tobacco
      • Taxed to reduce demand