Economics Link up 1

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  • Created by: Lucy
  • Created on: 07-12-12 11:39
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  • Government Intervention
    • Market Failure
      • Government Failure
        • Causes: Political self interest, Policy myopia (quick fixes), Regulatory Capture (industries operating in the interest of producers rather than consumers), Disincentive effects, Imperfect information, the law of unintended consequences, cost of enforcement, conflicting objectives
      • Resource allocation
        • Government Intervention
          • Market Failure
            • Government Failure
              • Causes: Political self interest, Policy myopia (quick fixes), Regulatory Capture (industries operating in the interest of producers rather than consumers), Disincentive effects, Imperfect information, the law of unintended consequences, cost of enforcement, conflicting objectives
            • Resource allocation
              • Caused by Negative externalities, Positiv externalities, Imperfect information, Private sector unable to provide public goods, Monopolies, Immobility, Equity issues.
              • Government techniques to reduce market failure: Taxes to decrease supply, Rgulations, Subsidies, Tradable permits, Property rights
            • Market Forces
              • FINANCIAL- Indirect taxes, Subsidies, Tax relief, Changes to welfare payments
              • Legislation and Regulation
              • Direct Provision of Goods and Services
          • Caused by Negative externalities, Positiv externalities, Imperfect information, Private sector unable to provide public goods, Monopolies, Immobility, Equity issues.
          • Government techniques to reduce market failure: Taxes to decrease supply, Rgulations, Subsidies, Tradable permits, Property rights
        • Market Forces
          • FINANCIAL- Indirect taxes, Subsidies, Tax relief, Changes to welfare payments
          • Legislation and Regulation
          • Direct Provision of Goods and Services

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