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--TASK--
As the new headmaster of a 'for profit' school, you are worried about the school's overreliance on the free market to solve the provision and management of vital school services: You soon identify the following issues:
'No school wifi.'
'No free meals nor library books.'
'No EAL or SEND provision.'
'All teachers are "overprinting in colour".
'No idea what the department budgets are being used for.'
'No control of school uniform pricing.'
It's impossible to get a company to build a new campus.
In each case, write it down and think of the economic reason/concept behind why the market has 'failed.'
Thankfully three letters can answer these questions?"
"In the Padlet below, find a real-world example of when the government directly provides a good or service and give a reason why you think it isn't left up to the free market."
--THINK AHEAD--
"What if a good can be consumed without customers needing to pay?", "What about a good that is vital yet not profitable due to few customers?", "What about the cost associated with calculating and enforcing the collection of taxes aimed at reducing production?" "How to make sure a subsidy is being used correctly and not wasted?", "How to stop a single firm taking over and limiting competition?", "How to entice private firms to undertake large investment projects that take a very long time to become profitabl?"
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