Scribd Logo
Upload

Welcome to Scribd!

  • 14 views

    Economy 2.7 Close Reading

    Uploaded by

    reaganx07
    s

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Economy 2.7 Close Reading

    Uploaded by

    reaganx07
    14 views4 pages
    s

    Original Title

    Economy 2.7 Close reading

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    s

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    14 views4 pages

    Economy 2.7 Close Reading

    Uploaded by

    reaganx07
    s

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 4

    Lesson 2.

    7 Public Goods and Externalities

    Key Terms
    public good
    public sector
    private sector
    infrastructure
    free rider
    market failure
    externality
    poverty threshold
    welfare

    Academic Vocabulary
    Impractical: not easily or efficiently achieved
    Scenario: a sequence of events

    Lesson Objectives
    1. Identify examples of public goods.
    2. Analyze market failures.
    3. Evaluate how the government allocates some resources by managing
    externalities.

    Public Goods: Reading


    1. Compare and Contrast What is the difference between private goods and
    public goods? Explain the difference using examples.

    2. Draw Inferences Why would a private firm be able to charge a very high
    admission fee if it owned Yellowstone National Park?

    Interactive Reading Notepad • Lesson 2.7


    Copyright © by Savvas Learning Company LLC. All Rights Reserved.
    3. Cite Evidence to explain why infrastructure is a public good.

    4. Determine Central Ideas How does an analysis of costs and benefits


    explain why an expensive project, such as a highway, gets produced as a
    public good, not a private good?

    Market Failures: Reading


    5. Identify Cause and Effect What two main criteria must be present to avoid
    market failure?

    6. Assess an Argument Market failure proves that the free enterprise system
    does not work. Is this statement accurate? Why or why not?

    Interactive Reading Notepad • Lesson 2.7


    Copyright © by Savvas Learning Company LLC. All Rights Reserved.
    Externalities: Reading
    7. Categorize What might be one positive externality and one negative
    externality resulting from the establishment of a trucking company in a
    neighborhood?

    8. Draw Inferences When chemicals from a paper mill seep into a waterway
    and a town downstream pays to clean them up, why is that considered a
    market failure?

    9. Paraphrase Use your own words to paraphrase the debate among


    economists over dealing with negative externalities in a free market.

    The Poverty Problem: Reading


    10. Determine Central Ideas Why does the poverty threshold vary from year to
    year?

    Interactive Reading Notepad • Lesson 2.7


    Copyright © by Savvas Learning Company LLC. All Rights Reserved.
    11. Identify Cause and Effect Why might income redistribution discourage
    productivity?

    Interactive Reading Notepad • Lesson 2.7


    Copyright © by Savvas Learning Company LLC. All Rights Reserved.

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy