market failure/externalities (1 Viewer)

[mushroom_head]

i became confused after reading dixon. So what's the difference between market failure and externalities? they look the same to me.

 

[coroneos]

orite market failure is the situation where firms take into consideration private costs + benefits associated with production but do not take into consideration the public costs/benefits of their production => negative externalities.

 

[mushroom_head]

ohh..so market failure is a result of negative externalities?

 

[coroneos]

no the other way around..

 

[coroneos]

market failure => negative externalities.

 

[mushroom_head]

ahh ok~ that clears things up a bit. thanx

 

[coroneos]

nps man.. environmental management is the biggest bs topic on economics lol..

 

[ToO LaZy ^*]

:uhhuh:...and i also don't like distribution of income and wealth.

 

[coroneos]

yeah lucky i wasnt forced 2 talk about that 4 CSSA lol.

I just bsed like 10 pages on globalisation

 

[ToO LaZy ^*]

10 pages..shit!..
which option did you pick, 1st or 2nd?

 

[coroneos]

there was only one questio on globalisation if memory serves me rite.

 

[mushroom_head]

is there that much to talk about on globalisation?????? what are the things you could talk about?

 

[ar5ena1]

There is a fair bit to talk about in globalisation: protection, reasons for protection, trade flows and there impacts, externalities, adv and disadv of trade.

Its the worst topic of the four tho.

 

[mushroom_head]

o yeahhh...protection! that's one of the main points, i can't believe i've forgotten all this stuff already.

but what are the externalities of globalisation?