Unit 2 Markets – Why they fail Steve Margetts Page 1 CONTENTS An Introduction To Market Failure 2 Defining Externalities 2 Correcting For Externalities - Government Policies 7 Merit Goods 14 De-Merit Goods 16 Public Goods - Provided By The State 17 Indirect Taxes – Reducing Negative Externalities 18 Subsidies 21 Cost Benefit Analysis (CBA) 22 Barriers to Entry 24 Monopoly 25 Index 28 Unit 2 Markets – Why they fail Steve Margetts Page 2 AN INTRODUCTION TO MARKET FAILURE Market failure
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The Basic Economic Problem What Economics is really about Scarcity Economics is a social science that studies the allocation of scarce resources Scarcity – an unlimited demand for limited resources There simply isn’t enough to go around What are some of the resources that you have? Economic Roles In the economy‚ there are two roles that are played out PRODUCER – also called manufacturers‚ suppliers‚ or sellers. CONSUMER – also called buyers or users Which are you? From the Producers’ Perspective
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1- Explain the collecting‚ recording‚ classifying‚ summarizing‚ analyzing and reporting process of accounting. - Collecting:- Data obtained from various sources with the help of appropriate measures is called collection of data. - Recording:- Arranging the data into its chronological form is called recording of data. - Classifying:- Division of data according to nature of events is called classification of data. - Ledger is used for classifying transactions - Posting
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CDO • Introduction to CDOs • Types of CDOs • Transaction Structure & Mechanics • Evaluation of CDOs • Risk associated with Investing in CDOs • Fair spread estimation with Monte Carlo Simulation • CASE STUDY: HVB ASSET MANAGEMENT ASIA (HVBAM) • CDO in Subprime Mortgage Crisis Introduction to Collateralized Debt Obligations (CDOs) A CDO is an asset-backed security whose underlying collateral is typically a portfolio of bonds (corporate or
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The historical origins of BDSM are obscure. There are anecdotal reports of people willingly being bound or whipped‚ as a prelude to or substitute for sex‚ going back to the fourteenth century. The medieval phenomenon of courtly love in all of its slavish devotion and ambivalence has been suggested by some writers to be a precursor of BDSM. Some sources claim that BDSM as a distinct form of sexual behaviour originated at the beginning of the eighteenth century when Western civilization began medically
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Managerial economics Definition * economics * ADAM SMITH - According to ADAM SMITH (Father of economics)‚ economics is the “science of wealth”. According to him the acquisition of wealth is the main objective of human activity. Therefore it is necessary to study how wealth is produced. This is the subject mater of the economics… * ALFERED MARSHELL: - According to ALFERED MARSHELL‚” political economy or economics is the study of means and action in the ordinary business of life
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Discovery Science 2010 Term 3 ABDEF Task Alex Coffey Aim: To investigate the increase/decrease in rust and corrosion when dipped in different solutions. Corrosion is the reaction between a metal and it’s surrounding environments. Corrosion occurs when a metal (for example Copper) and different environments (such as water‚ air‚ acids‚ bases‚ etc.) come into contact. Corrosion is the act of deterioration in metals.[1] A chemical reaction occurs between the metal and it’s environments Eg
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Thomas Chiu I SYS 590R Winter 2013 I have been asked by the company CIO to determine if Web Analytics is a strategy the company should pursue. I shall first provide information about what Web Analytics is. Then‚ I shall analyze how is can be used to improve a business. Finally‚ I shall provide my recommendation regarding using Web Analytics for our company—in answer of the CIO’s question. What is Web Analytics and how can it be used to improve a business? Web analytics is the measurement
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French Course #2 Greetings & Salutations A typical formal conversation might start with many of these phrases: Introducing in French | Pronunciation | Translation | Bonjour | bohN-zhoor | Hello | Bonsoir | bohN swahr | Good evening | Bonne Nuit | bohN-nwee | Good Night | monsieur | muh-syuh | Sir | madame | mah-dahm | Miss‚ Mrs | mademoiselle | mahd-mwah-zehl | Miss | Je m’appelle | zhuh mah-pehl | My name is (I call myself) | Comment vous appelezvous? | kohN-mahN voo zah-play
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SUMMARY FOR NOTES SARS TO PAYROLL CHAPTER 2 – VAT INTRODUCTION TO VALUE ADDED TAX (VAT) What is VAT? VAT stands for Value Added Tax. Value Added Tax (VAT) is levied on the supply of goods and services by vendors or it is a tax businesses charge when they supply their goods and services. We have to pay VAT on most of the things that we buy. In September 1991‚ South Africa replaced its general sales tax (GST) with a consumption-type value added tax (VAT). The VAT is administered
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