Market Failure

Negative Externality in Singapore and The Economics Behind Sim Lim Scams

Do you know that Economics can also be used to explain the rampant scans in Sim Lim Square? In particular, this is a classical example of negative externality in Singapore. Despite being “famous” for the wrong reasons, these unscrupulous shops like ‪#‎mobileair still seem to be growing strong. The following article provided a very good insight on

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