1. On March 2018, the consumption of two polony brands manufactured by Enterprise and Rainbow Chicken Limited...
Question:
1. On March 2018, the consumption of "two polony brands manufactured by Enterprise and Rainbow Chicken Limited" was attributed to listeriosis infection of nine children.
2. Sugar cane farmers in the Kwa-Zulu Natal South Coast are unable to take advantage of the growing demand for macadamia nuts due to in part, "Macadamia requires large initial capital to establish (first 7 year operational costs) and to see the orchard through to maturity".
3. The Durban South Basin has been named as one of the hotspots for high air pollution levels in South Africa.
4. South Africa's parliament passed a minimum wage bill by a large majority, meaning that millions of workers will now earn R20 per hour. This is equivalent to R3,500 per month.
5. The living Conditions Survey 2014/15 found that the country had a Gini coefficient of 0.63 in 2015, the highest in the world.
Discuss the types of market failure inherent in the above statements. In your discussion, suggest ways that government can intervene for each or possibly how governments in certain countries have intervened in order to correct the types of market failures outlined above.
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins