Year 12 Recap - Subsidies
This Year 12 Recap video centers around the topic of Producer Subsidies.
Subsidies are one of the central policy tools which can be used by a government to influence the outcome in the market to help nudge the equilibrium closer to the social optimum. The knowledge of this concept is crucial, as when discussing potential remedies for markets that fail to allocate scarce resources effectively, this simple but effective policy tool can be discussed.
Subsidies are government payments granted to producers to help encourage the provision of goods and services. The video provides students with both the theory and graphical representation of the impact a producer subsidy has on the market.
Here Jack guides you around the topic of Producer Subsidies:
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