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Essay Q1
Introduction
beginning of essay
Definitions:
Public goods and merit goods
Public housing: is a form ofhousing tenurein
which the property is owned by
agovernmentauthority. (In Singapore, HDB
leases HDB flats on 99 year leases)
Body
explaining and classifying
Define non-excludable
Illustrate with an example (e.g. street
lighting, national defence, traffic lights)
Explain how public housing is
excludable not a public good
Body
explaining and classifying
Define non-rival
Illustrate with an example (e.g. street
lighting, national defence, traffic lights)
Explain how public housing is rival
not a public good
Body
explaining and classifying
Body
explaining and classifying
Non-excludable free-riders no
revealed demand no price signals no
demand for public goods
Body
explaining and classifying
Body
explaining and classifying
Conclusion
- summarize, link to part b?
[15
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Introduction
beginning of essay
Define:
more efficient allocation of resources:
allocative efficiency, P=MC, MSC = MSB
Externalities
Overview: In this essay, I will explain
how government intervention can lead
to a more efficient allocation of
resources as well as some conditions
that lead to government failure.
Body
explaining and classifying
Body
explaining and classifying
Point 2: Intervention in
markets with negative
externalities for a more
efficient allocation.
Body
explaining and classifying
Conclusion / evaluation
Depends on:
Effectiveness and suitability of policies
Context of country (state and
characteristics)