Economics class video: Farming — the difficult first step towards net zero
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Market failure, government intervention and government failure
Click to watch the short video below and then answer the questions:
Draw an externalities diagram related to the farming industry
What policies could a government introduce to deal with the negative externalities of production of farming?
Using the video, explain some of the problems a government will face when trying to correct the market failure
In what respects might the private sector be better at solving problems like Rabobank than a national government?
Gavin Simpson and Pete Clift, Economics In Ten podcast