Could someone pl ve a look at my introduction?

0hello!02br
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00I would be very thankful if someone could ve a quick look at my essay introduction. The essay question was: "Environm. Externalities are a major form of market failure - illustrate this and discuss how p. policy might handle env. external."02br
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00Despite the grammar, if anyone has comments regard to my structur which I briefly outline in the introduction, I appreciate every suggestion 05002br
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00Cheers!02br
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00One of the major forms of market failures is caused by negative environmental externalities which results in a loss of allocative efficiency of resources and a reduction in economic welfare. This paper seeks to discuss different policy approaches as response to market failure caused by environmental externalities. Each policy approach has certain advantages and disadvantages. The most common arguments will be presented by means of a selected range of instruments falling under the broad headings ‘moral suasion’, ‘command and control’ and ‘financial and market based incentives’. It will be outlined that policy instruments differ regarding their economic and environmental efficiency, administrative feasibility and public acceptance in each case of application. Hence, a general evaluation of these policy instruments would fall far short. First, the incidents market failure and environmental externalities will be defined and illustrated. Second the three main approaches of policy intervention will be discussed. Finally, figures of merit will be introduced which policy makers may apply by choosing the means to handle environmental externalities.010id1