The recent haze is a very clear application of market failure and negative externality of production in Indonesia – slash and burn farming techniques. What is slash and burn farming techniques? For rural farmer with limited access to latest farming technologies and techniques, the fastest way to “refertilize” a plot of land is to …
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 …
Negative Externality in Singapore and The Economics Behind Sim Lim Scams Read More »
