SSEC6.1.1 Tasmania mapping

ECONOMICS LEVEL 3

Unit 1: An Introduction t Economics 

Market failure and government policies

Economic knowledge

  • Concept of market failure.

Main types of market failure:

  • public goods and common resources.

Economic decision-making

  • Analysis of market failure in terms of public goods and common resources.

Economic policies and action

  • The link between market failure and the role of government.