What is a Market Failure?, micro economics questions help
1.Please post a well-thought-out question about the subject matter relating to the attached power points
2.Provide a brief answer to each of the following weekly questions:
WEEK FIVE:
What is a Market Failure?
2) What could be some of the possible solutions to cases of market failure?
3) Define Externality. Give an example.
4) Define Asymmetric Information.
5) Present a personal experience when you faced the case of Asymmetric Information.
6) Define Moral Hazard.
7) Define Adverse Selection.
8) Define “Signaling” in the context of microeconomics.
9) Define “Reputation” in the context of microeconomics.
10) Have you ever behaved as the concepts of Moral Hazard and Adverse Selection suggest? If yes, provide an example. If no, give a hypothetical example.
11) Define Public Goods.
12) What is meant by “Commons?” Give an example.
13) Define Monopoly Power.
14) Define “Rival” and “Non-Rival” in Consumption.”
15) What could be some of the possible solutions to cases of market failure?
16) Why Market is considered to have been failed in the case of Externalities?
17) Why Market is considered to have been failed in the cases of Public Goods and Commons?
18) Why Market is considered to have been failed in the case of Asymmetric Information?
19) Why Market is considered to have been failed in the case of Monopoly Power?
20) What could be done to remedy the market failure in the case of Asymmetric Information?
21) What could be done to remedy the market failure in the case of Public Goods and Commons?
22) What could be done to remedy the market failure in the case of Externalities?
23) What could be done to remedy the market failure in the case of Monopoly Power?
24) What are the two philosophies of taxation?
25) What is Ability to Pay Principle of taxation? Give an example.
26) What is Benefit Principle of taxation? Provide an example.
27) Define Progressive tax system. Name a progressive tax.
28) What is Proportional tax system? Name a proportional tax.
29) Define Regressive tax system. Give an example.
30) Define Marginal Tax Rate.
31) Define Average Tax Rate,
32) Define Excise tax, Sales tax, Property tax, and Income tax.
33) What is Incidence of Taxation?
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