LO:
a) Purpose of intervention with reference to market failure and using diagrams in various contexts:
b) Other methods of government intervention:
a) Purpose of intervention with reference to market failure and using diagrams in various contexts:
- indirect taxation (ad valorem and specific)
- subsidies
- aximum and minimum prices
b) Other methods of government intervention:
- trade pollution permits
- state provision of public goods
- provision of information
- regulation