Source : https://mpra.ub.uni-muenchen.de/94577/1/MPRA_paper_94577.pdf

1. Explain the term market failure (1 mark) 2. Discuss the key reason for the market failure in Sierra Leone in year 1980 (1 mark) 3. According to McMillan (2002), discuss how the economy can maintain good market (1 mark) 4. As per the article discuss the consequences on corruption on Sierra Leone during 2017-18 (2 marks) 5. According to Cunningham (2011: 28-29), there are serious consequences for market failure by a nation, and particularly in a small and endowed country like Sierra Leone. Discuss 5 of those consequences that can arise due to market failure. (5 marks) 6. Discuss 5 recommendation as how the government of Sierra can overcome with market failure (5 marks) 7. Why is it often suggested that imperfect information will result in a misallocation of resources? How can such a misallocation be avoided? (4 marks) 8. What is the another term of impact information as used in the Case of Sierra Leone? (1 mark) 9. Suppose in Sierra Leone, raising taxes or borrowing are your only two choices of financing current expenditures, which would you choose, and why, if you were in charge of setting policy? (3 marks) 10. We have learned from this course that the real value of the debt is eroded by inflation and may be overestimated because of it and other factors. Discuss whether you feel that the debt will be a major concern during your working lifetime and retirement why or why not? (2 marks)