Market Failure Cheat Sheet

Externality Cheat Sheet

The APis fairly straight forward asking about externalities/ market failure but they do tweak it a bit by asking how dead weight loss DWL is effected by certain solutions (Tax, subsidy, lump-sum tax, etc.) Be prepared.
meet-up tonight at 6pm in Stanley @ Pacific Coffee
http://www.meetup.com/Hong-Kong-AP-Economics/
Welcome if you are in HK.

Externality Check list,
When crafting a diagram, make sure that all necessary parts are added for the readers.
I made this checklist for the IB exams but it works equally well for the AP.