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Discuss whether there is a need to change the policies adopted by the Singapore government to deal with market failure in the healthcare industry.
From the stand of the government, the policies to provide healthcare to society are i) to encourage consumption of healthcare so that the socially optimal…
Explain the market failure in the healthcare industry.
Market failure is the failure of markets to achieve allocative efficiency. The market failure in healthcare industry is caused by several factors like the failure…
“The model of monopolistic competition best explains firm behaviour and performance in Singapore”. Discuss.
Introduction Monopolistic competition is a market structure where there are many firms selling a differentiated product and entry barriers are low. This structure gives rise…
Explain why it is important for a country to attain its macroeconomic goals.
Economic growth means that national income increases. Ceteris paribus, this means that people’s purchasing power has increased. Hence, they are able to buy and enjoy…
Discuss the extent to which being a small and open economy affects the policy decisions to achieve price stability and full employment in Singapore.
Introduction Singapore has a small population of about 5 million people as well as a small geographical area of only 704 km sq. This disadvantaged…
Discuss the extent to which protectionism can help developed nations to correct the balance of payments problems arising from the emergence of developing nations.
Synopsis: Students are expected to provide detailed illustration of how various protectionistic measures, such as tariff and quota, can be implemented by developed countries to…
Discuss the impact of falling domestic interest rates and rising labour productivity on the Singapore economy.
1) Explain causes of falling interest rates and rising labour productivity briefly Falling interest rates: Since the MAS targets Singapore’s exchange rate as their primary…
Analyse, with examples, the main causes of market failure in Singapore in recent years and the effectiveness of government responses.
Intro Explain Market Failure Explain causes of market failure Nature of Singapore economy Body Identify 3 causes of market failure faced in Singapore recently, related…