1. Why does a lack of private property rights lead to market failures?

2. What are externalities?

3. What are free rider problems?

4. What are moral hazard and adverse selection problems?

5. What are network externalities?

6. What are government approaches to solving market failures?

7. can you Give examples of positive externalities and negative externalities?

8. How would your neighbor loudly playing a stereo exemplify a negative externality?

9. What are pork barrel programs?

10. Why has air and water pollution become a "hot" issue? What can government do about pollution?