Reference no: EM131403705
Provide one example where everyone acting on their own, and in their own self-interest, leads to a positive outcome for everyone as a whole and for the company, community, society or country or common good (even the world if you choose).
Provide one example where everyone acting on their own, and in their own self-interest, leads to bad or even disastrous outcomes for the company, community, society, country, or common good (even the world etc.).
Provide one example where government action or policy has successfully improved a situation (describe the situation), resolved a problem (describe the problem), fixed a market failure, provided conditions for growth, or brought about well-being where the economy on its own did not or was not able to.
Provide one example where government action or policy instead made a situation worse, was a worse solution than the problem is sought to solve (explain why that is the case), or weakened the conditions for growth or well-being.
Explain what incentives would be needed, what policies, what structures or reforms would also work well in each of these cases.
Please use your own examples from the real world, and not any from our readings for this week.