G11 - Week 11 - Day 1

In-class work

1. Practice question
1. Explain why a government might introduce subsidies for food. [10 marks]
2. Discuss possible negative consequences that may arise from a government decision to subsidize food. [15 marks]
2. Competitive markets (p. 25)
1. Market failure occurs when any of the assumptions for perfectly competitive markets are NOT true

At-home work

1. Ch. 6 vocabulary and diagram flashcards
2. 
   

   Introduction to Market Failure
3. 
   

   Negative Externalities of Production