discuss the definition of externality, explain why government intervention is usually required to address the economic failure that results, and describe how taxes are used to fund this.

1-Taxes

-Clearly define and give an example of each type of tax approach: proportional, regressive, progressive. The examples do not need to be actual taxes; create realistic examples of each of the three types of taxation.

2-Externalities

-Define the concept of economic externality.

-Give an example of a positive and a negative economic externality.

-Explain why government intervention is generally required to adjust for economic externalities.

3-Public Goods

-Give an example of a public good and explain why it is a public good (think about the excludability and rivalry of the good).

-Why do public goods need to be paid for via taxes?

-Explain the Free Rider problem and how it is addressed via taxes.

Provide a list of references.