Taylor Emma

A senior editor for The Mars that left the company to join the team of SenseCentral as a news editor and content creator. An artist by nature who enjoys video games, guitars, action figures, cooking, painting, drawing and good music.
2363 Articles

Economic exchange

Economic behaviour involves the exchange of one scarce resource for another. When…

Taylor Emma

Property rights

Markets are efficient at producing private goods, largely because producers and consumers…

Taylor Emma

Merit goods and positive consumption externalities

With education, few students will know with any precision the benefit to themselves…

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The supply of merit goods

Economic theory predicts that while markets may form to supply some merit…

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Merit goods

The market for merit goods is an example of an incomplete market. Merit goods have two…

Taylor Emma

Turnpikes

In the UK, turnpikes were an increasingly common way of paying for…

Taylor Emma

Quasi public goods

The market for quasi-public goods is an important example of an incomplete…

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Incomplete markets

An incomplete market is one where some of the necessary conditions for…

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Pure public goods

The market mechanism is likely to fail to supply pure public goods…

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Missing markets

A significant market failure is the failure to produce some goods and…

Taylor Emma