Class Notes (1,000,000)
CA (610,000)
UTSG (50,000)
ECO (1,000)
ECO101H1 (600)
Lecture 2

ECO101H1 Lecture Notes - Lecture 2: Shortage, Market Failure, Allocative Efficiency


Department
Economics
Course Code
ECO101H1
Professor
James Pesando
Lecture
2

Page:
of 5
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&,%%,3#,,!(
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33#,0
-!#,
-,1,!3
-1#,
-,1,!3
DDDD
"!,,1-! ,/##,,!0
!,,1:F#,/1 ,0/#1!9
3330
"!,,1/#(-*9%9:
0
!,,1-1#,/#(,&9310

)*3!,3!#,J'>I$'
--1#,,33,&,31
oFree-rider problem<313!&#
31#,3!,,9&9
!3&#,'
+,1,!
-<,!,!!3!,#,1&
3!,9
--!positive externality
!J!&31#,
)3,1:&3!,#31#,)+&
>)
)+&FC)&,!,#1:
)&3!,#&#,
D "-$- KD