Identify, then define and discuss one concept from three (each from a different Study Spreadsheet) of Unit IIIs four Study Spreadsheets: Market Failure, Comparing Decision Environments, the Economic Model of Political Behavior and Government Failure (also covered in the assigned chapters 5 & 6 by Gwartney).

Prepare an essay to be written on the subject described below. Organization, grammar and style count equally with content in the determination of the grade for this exam. Your essay should be approximately five paragraphs long: an introductory paragraph, three paragraphs that discuss the three concepts chosen from the four topics in Unit III and a concluding paragraph.

Identify, then define and discuss one concept from three (each from a different Study Spreadsheet) of Unit IIIs four Study Spreadsheets: Market Failure, Comparing Decision Environments, the Economic Model of Political Behavior and Government Failure (also covered in the assigned chapters 5 & 6 by Gwartney). Include in your discussion of the three concepts, examples or illustrations that show how these three concepts operate in the real world.