Monday, July 23, 2007

Unit 2: Government intervention to overcome market failure: Raising the age for smoking

A BBC article explaining what the government intends to do to inform people about the forthcoming increase in the minimum age for legal smoking

http://news.bbc.co.uk/1/hi/health/6908966.stm

a) What type of free market failure is present in teenage smoking?
b) What measures are the government taking to try to reduce the market failure?
c) Why are they taking these measures?
d) To what extent do you believe they will be successful in reducing the market failure

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