Lower Sixth Homework : Positive Externalities of Malaria Vaiccinations

Dear Lower Sixth

HW due : Monday 14/11

1. At the start of the lesson I shall expect you to be able to draw the two latest diagrams that you have added to your armoury of economics weaponry this week: the diagram for negative externalities and the diagram for positive externalities.  You will be expected to do this WITHOUT NOTES.

2. Study the graph above and watch this video clip here then complete these tasks:

1. list the different external benefits that arise from developing a vaccine for  malaria
2. explain why it is difficult to put a monetary value on this vaccine.
3. draw a diagram to show how the market fails in its allocation of scarce resources to the production of malaria vaccinations.