One million plastic bottles being sold every minute is a pretty stark number showing why this is a problem, particularly when you add it to the fact that less than half are collected for recycling.Plastichas many desirable properties making it a ubiquitous material.Plasticscreate millions of products and on top of that millions of jobs. Theplasticindustry is a huge part of the world economy yet its efficiency and negativeexternalitiesare often overlooked.

You are a student of economics and you were recentlyasked to make a virtual presentation at a conference based on the article 'Drink Bottles'.

REQUIED:

1. 'Drink Bottles' presents a case of market failure. Explain what is meant by market failure. Be sure to outline the sources of market failure.

2. Describe the negative externalities arising from the consumption and disposal of plastic bottles.

3. Outline measures to correct the market failure presented in the case.

Additional marks

Information should be presented in the form of a videopresentation where all members of the group should play a role, sound effects and creativity are to be included. An official launch of the video is required.