Spot the Economic Concepts

When I was at Uni, I used to visit a local school to watch an Econ lesson each week. The first ever lesson I observed started with Tutor2U's iconic 'Spot the Market Failure' activity, which I have loved ever since.

I've since created a few more images in a similar vein. Tutor2U's original has tonnes of concepts hidden, but because I'm using AI, mine are much more simplistic and only have a couple of concepts in each. That said, students are pretty good at finding concepts I'd never thought of!

Possible answers: It's pretty open to interpretation but here's a couple to get you started!

- All you can eat could be diminishing marginal returns

- Fireworks could be free riding

- Beach/street lamps could be public goods

- Vape shop/factory could be neg cons/prod externality respectively

- Library/bakery could be pos cons/prod externality respectively

- Park could be tragedy of commons

- Free cupcake has opp cost

- Fries prices could be framing

- Homeless man and nice car could be ineqaulity

- Cafés could show price war/non price competition with seating