Micro Unit 6 Intro- Market Failures and the Government

Mr. Clifford provides an overview of microeconomics unit 6, focusing on market failures and the government's role. He explains how the free market can fail to allocate resources efficiently, leading to issues like public goods and externalities. The video covers the need for government intervention to provide public goods and regulate monopolies. It also discusses income distribution in a mixed economy and briefly touches on other economic concepts like asymmetric information and moral hazard.

How does the government play a role in the distribution of income in a mixed economy?

What are some other concepts related to market failures that you might learn in this unit?