Describe the role the government should play in correcting for market failures. Make sure to apply Saint Leo’s Core Values to your analysis, remembering that responsible stewardship calls on us to be ‘resourceful’. You should cite specific examples and applications, and take a clear stand on whether you believe the actions of government work towards resolving market failures or not.
This assignment must be a 2-3 page Word Document and use 12 pt. Times New Roman font with proper APA citations. Be sure to review the scoring rubric.
To answer the Writing Assignment requirements, I want you to answer it in four parts:
Part 1 has to talk about 1. what an externality is, 2. what negative and positive externalities mean, and 3. give a general synopsis of what you’re going to discuss in parts 2, 3, and 4.
Part 2 has to talk about 1. a specific negative externality, 2. how the government tries to improve this market failure, and 3. whether you believe the government is doing an effective job.
Part 3 has to talk about 1. a specific positive externality, 2. how the government tries to improve this market failure, and 3. whether you believe the government is doing an effective job.
Part 4 has to discuss whether you believe the government should try to improve market failures by identifying two Saint Leo core values (one of them must be the responsible stewardship core value) that apply to the market failures you identified in parts 2 and 3.
Don’t forget to follow the guidance as far as Times New Roman font (12 pt.), number of pages (a minimum of 2 full pages, but no more than 3 full pages). Please label the Parts and paragraphs as shown above. Additionally, I want you to have margins of 1 inch all around, i.e., top, bottom, right, and left. Please double space your paper.
