Task
Students to come up with a scenario of market failure (e.g. merit good, public good..) and devise at least 2 solutions to the market imperfection. Students to substantiate their scenario with real world examples derived from the Internet.
Process
1. Identify the type of market failure
2. Provide a real world example of the market failure
3. Predict potential consequences of the imperfection
4. Devise at least 2 solutions to the market failure