Embedded Files
--CHALLENGE--
"Go to Padlet below and try to answer the questions!" "What do you notice about all the goods/services that we could identify?"
--TASK--
'Complete the following sentence by giving at least three examples and 'propose' a reason why you think this might be the case.'
"Apart from using taxes, subsidies, and price controls, the government may decide to directly provide the good or service themselves, for example, most lighthouses are provided by the government as the free market..."
"What if a good can be consumed without customers needing to pay?" | "What about a good that is vital yet not profitable due to few customers?" | "What about the cost associated with calculating and enforcing the collection of taxes aimed at reducing production?" | "How to make sure a subsidy is being used correctly and not wasted?" | "How to stop a single firm from taking over and limiting competition?" | "How to entice private firms to undertake large investment projects that take a very long time to become profitable?"
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