8.1 Government policies -(A-Level Econs)

PPT covering:

8.1 Government policies to achieve efficient resource allocation and correct market failure continued
8.1.2 government failure in microeconomic intervention:
• definition of government failure
• causes of government failure
• consequences of government failure
8.2 Equity and redistribution of income and wealth
8.2.1 difference between equity and equality
8.2.2 difference between equity and efficiency
8.2.3 distinction between absolute poverty and relative poverty
8.2.4 the poverty trap
8.2.5 policies towards equity and equality, for example:
• negative income tax
• universal benefits and means-tested benefits
• universal basic income

• Links to relevant videos