Role of the Government in a Market Economy
Turn to chapter 3.3 (p.62-66) and complete the following:
- Describe a public good.
- Explain when the government provides public goods.
- Explain the “Free rider problem.”
- What do we mean by “market failure.”
- Explain what an externality is and make sure you include both Positive Externality and Negative Externality
Second:
Complete the following Study Island practice quizzes: Fundamentals 1 and Fundamentals 2.
You can access Study Island by clicking the above link on my tabs page.
- log in information is available on the right hand side of the page.
- Click on the equivalent of "my classes" and select your class.
- You will always select practice
- You will always choose 15 questions
- You will always do each quiz twice for a total of 30 questions.
- Top tips:
- You should at least skim the lesson and write down anything you did not know.
- After you answer a question, click on the explanation, which I think is a star icon. This will tell you why the answer is correct. Even if you got the answer right, it's still worth clicking on to make sure you understand.
- Some of the questions will repeat themselves the second time you take it, so you have no excuse not to make a really good grade.