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    Well last Micro question
    So the possible policies governments could implement in the case of market failure are:
    -subsidies
    -maximum/minimum prices
    -tax
    -buffer stock schemes
    -information/education
    -pollution permits

    Basically. Could someone please help me with the problems that could arise from each of these and any other policies I may have missed out thanks xxxxx


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    -subsidies
    It's not certain that the grant given will be spent on what the government expects, resulting in government failure

    -maximum/minimum prices
    There'll be an excess demand, which could result in illegal trading

    -tax
    Political Unpopularity

    -buffer stock schemes
    Needs to be accurately estimated or else there may be too much stock bought or released into the market - government failure

    -information/education
    It might take time for effect to be seen

    -pollution permits
    Pollution is a global issue, therefore all countries will need to corporate(yes, including China) or else it's just a waste of time
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    (Original post by Nay95)
    Well last Micro question
    So the possible policies governments could implement in the case of market failure are:
    -subsidies
    -maximum/minimum prices
    -tax
    -buffer stock schemes
    -information/education
    -pollution permits

    Basically. Could someone please help me with the problems that could arise from each of these and any other policies I may have missed out thanks xxxxx


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    Are you in a relationship with your AQA Economics exam?
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    Lol I wish I was, maybe then I'd have all the right answers.. Tomorrow I'm dumping economics and moving on to tudor history exams make me strange sorry


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    (Original post by CoolStoryBroo)
    -subsidies
    It's not certain that the grant given will be spent on what the government expects, resulting in government failure

    -maximum/minimum prices
    There'll be an excess demand, which could result in illegal trading

    -tax
    Political Unpopularity

    -buffer stock schemes
    Needs to be accurately estimated or else there may be too much stock bought or released into the market - government failure

    -information/education
    It might take time for effect to be seen

    -pollution permits
    Pollution is a global issue, therefore all countries will need to corporate(yes, including China) or else it's just a waste of time
    Thanks xx


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    (Original post by Nay95)
    Lol I wish I was, maybe then I'd have all the right answers.. Tomorrow I'm dumping economics and moving on to tudor history exams make me strange sorry


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    Haha, yes. All exams would be easier then. Don't worry about it, just confused me some
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    Haha we'll be fine, are you doing it as we'll ?


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    (Original post by Nay95)
    Well last Micro question
    So the possible policies governments could implement in the case of market failure are:
    -subsidies
    -maximum/minimum prices
    -tax
    -buffer stock schemes
    -information/education
    -pollution permits

    Basically. Could someone please help me with the problems that could arise from each of these and any other policies I may have missed out thanks xxxxx


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    One thing you're missing is regulation and legislation, such as imposing age restrictions on cigarettes and alcohol, or setting restricted prices.
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    (Original post by Segadfx)
    One thing you're missing is regulation and legislation, such as imposing age restrictions on cigarettes and alcohol, or setting restricted prices.
    and state provision

    The negative for that would be competitive markets are more efficient that government provided ones due to financial incentives as a 'job well done' in a competitive firm
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    I love this app, and the people on here goodluck in all your exams btw xx


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