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Market Failure

1. Explain what are public goods and consider whether public housing is an example of public good.

2. Explain how smoking may be viewed as a source of market failure, and evaluate the policy measures that the Singapore government currently adopts to correct the market failure caused by smoking.

3. Assess the policies the Singapore government can adopt to contain the problem of rising greenhouse gas emissions.

4. Explain how the use of plastic bags may lead to market failure and discuss whether indirect tax is adequate and desirable in solving the market failure.

5. Discuss whether housing should be classified as a public good or a merit good.

6. Explain why traffic lights and flyovers are examples of public goods.

7. Discuss the market failure which may arise and the measures adopted by the Singapore government in promoting the performing arts in the country.

8. Discuss whether it is possible to achieve efficiency in resource allocation in a free market without government intervention.

9. Illustrate what is meant by a private good, a public good and a merit good.

10. With reference to examples, discuss whether the Singapore government currently adopts appropriate policies in the provision of healthcare.

11. Explain why market dominance can lead to market failure.

12. Discuss the effectiveness of the policies currently adopted by the Singapore government to address the market failure caused by merit and demerit goods.

13. Discuss whether it is unrealistic to rely on the price mechanism to achieve efficiency in resource allocation.

14. Discuss whether the Singapore government currently adopts the most appropriate economic policies to improve the quality of the environment.

15. Using appropriate examples, illustrate the terms "externality" and "public goods".

16. Distinguish between a public good and a merit good and consider into which classification museums should be placed.

17. Explain why greenhouse gas pollution from power stations are likely to cause market failure.