Concepts learnt : Explain the concept of public goods

Explain the sources of market failure in the presence of

externalities

Explain the characteristics and causes of externalities

Explain the need for Government intervention in an

economy

Analyze how externalities are corrected the tools of

Government intervention

Question : Certain aspects of the Covid19 pandemic can be explained by the concepts of externalities and characteristics of public goods.By identifying specific examples, discuss and explain the statement based on the concepts you have learnt, and explain how government interventions could address the issues identified.