Explain why you agree with the premise:
GOVERNMENT INTERVENTION(S) IS/ARE THE MOST EFFECTIVE WAY TO CORRECT MARKET FAILURES AND ENSURE A SMOOTH FUNCTIONING OF MARKETS TO ENHANCE THE BENEFIT OF ALL.
Highlight the concept of market failures and mention which are those market failures and must be mentioned the concept of imperfect competition as an example of market failure (use at least 2 of the readings attached or other related)
It must develop also the concept of state failures as comparison of market failures, the conclusion must be related with the premise that Government intervention ensures a smooth functioning of the markets, increasing the general welfare, as long as the design of the intervention mitigates the failures that state intervention also generates.
