MarketFailure

MarketFailure - Market Failure 1. What is Market failure? A...

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Market Failure 1. What is Market failure? - A situation in which markets don’t organize or allocate production of goods and services to consumers efficiently. - The inefficiency is usually dramatic. - The situations may be where the market does not serve the public interest. 2. What is the EPA? - Environmental Protection Agency – created to protect the environment we live in. - Intervention and regulation by this government agency is in the best interest of the public. - This is how the EPA works: a. Laws are created and approved by Congress. These are called acts and the text of the act is a public statute. b. Examples are: - Clean Air Act - Clean Water Act - Safe Drinking Water Act c. The acts or statutes are published in the United States Code, the official record of federal laws. d. The statute is official so it is the duty of the EPA to create the regulations for these laws that pertain to the environment. e.
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MarketFailure - Market Failure 1. What is Market failure? A...

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