1. Explain the difference between private law and public law.
2. Define statutory law and give examples of statutory laws at various governmental levels.
3. Explain externalities and show why taxation is used as a means of addressing them.
4. Discuss the idea of market failure and the principle of efficiency as a foundation of law.
5. Define administrative law and discuss the role of federal administrative agencies in making and enforcing administrative laws.
6. Define case law and explain the concepts of precedent and judicial review.