Market Failure Gallery Walk by Louise Fryer https://padlet.com/louisekfryer/dutagubez197r2b7 Welcome to the Market Failure Gallery Walk! *Write an example of a negative externality; *Describe the scenario; *Is the result of overproduction or overconsumption? *What is the social cost that is not included in the private cost? *What could be done to ‘internalise the externality’? (e.g., government intervention) *Include an image or diagram if possible. *Explore each post and leave a comment or reaction on at least three. en-us 2025-06-16 12:25:24 UTC 2025-06-17 04:44:28 UTC hello@padlet.com https://padlet.net/icons/8.0/png/1f3db.png Indirect social costs louisekfryer https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492469961

  • What are the indirect social costs that have been externalised from the private cost of the good/service?

    • ]]>     2025-06-17 01:56:51 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492469961     Overconsumption or Overproduction? louisekfryer https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492476208

  • Is this an example of overconsumption or overproduction? In which ways?

    • ]]>     2025-06-17 02:00:23 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492476208     Scenario louisekfryer https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492477052

  • Explain the scenario.

    • ]]>     2025-06-17 02:00:51 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492477052     Third parties louisekfryer https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492480539

  • Who are the third parties who are affected by not compensated?

    • ]]>     2025-06-17 02:02:36 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492480539     Government intervention louisekfryer https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492482252

  • How could the government intervene to resolve the externality?

    • ]]>     2025-06-17 02:03:35 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492482252     Alcohol https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492723898 Overconsumption is the problem as it means, people are drunk and that is dangerous.

    ]]>     2025-06-17 04:40:14 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492723898     Alcohol public damage https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492724533 A fella drinks alcohol, and goes on a rampage on the road after excessive consumption. This causes the person to dangerously drive, resulting in multiple public damages such as hitting property or other people.

    ]]>     2025-06-17 04:40:37 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492724533     Third Party Poblem https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492725814 the consumption of alcohol effects government, citizens, police, hospitals and more

    ]]>     2025-06-17 04:41:11 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492725814     Addicting https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492725902 Nicotine is so good that when you have it often you want more and its like a cycle or something. Anyway its pretty bad for you and when you go to the hospital the taxpayers will pay your bills, cause ur broke after spending all you money on iget bars


    ]]>     2025-06-17 04:41:15 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492725902     Government intervetion https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492727016 The government could add higher taxes to alcohol as it would disuade people from buying or selling it

    ]]>     2025-06-17 04:42:00 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492727016     Drugs can cause brain damage to people and the government has to fund their lives. https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492727356 2025-06-17 04:42:16 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492727356 Gambling https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492728605 People are putting investing too much money, therefore resulting in higher risks of homelessness, leading to harsh conditions, health concerns and higher hospital bills.

    ]]>     2025-06-17 04:43:02 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492728605     https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492728669 the overconsumption of smoking leads to cancer and requires people to access Medicare using taxpayers money

    ]]>     2025-06-17 04:43:05 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492728669     Government Intervention for Smoking https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492729363 The government could increase the tax on cigarettes so people are less inclined to buy them


    ]]>     2025-06-17 04:43:26 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492729363     Government big game plan (intervention) https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492729895 excessively raise alcohol prices + elimination of product via an awareness campaign (ads that deter the public from consumption).

    ]]>     2025-06-17 04:43:46 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492729895     Social Costs to Alcohol https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492730070 It leads to accidents and sickness and worsens the health of people requiring medicare and health checking. It can cost jobs, families and future.

    ]]>     2025-06-17 04:43:53 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492730070     Junk Food https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492730630 This is an example of overconsumption.

    it contributes to increased healthcare costs due to diet-related diseases, impacts productivity, and can lead to a misallocation of resources in the food system.

    It creates increased healthcare costs

    ]]>     2025-06-17 04:44:15 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492730630     Drugs https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492731036 Drugs are very overused in society

    ]]>     2025-06-17 04:44:34 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492731036     Drugs https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492731098 Drug usage is bad as it often leads to the destruction of brain compounds such as combustion

    ]]>     2025-06-17 04:44:37 UTC https://padlet.com/louisekfryer/dutagubez197r2b7/wish/3492731098