Save
...
Market Mechanism, Market Failure and government intervention
The meaning of market failure
What is Market failure?
Save
Share
Learn
Content
Leaderboard
Learn
Created by
Ricky £
Visit profile
Subdecks (1)
Complete vs Partial Market Failure
Year 1 Microeconomics > Market Mechanism, Market Failure and government intervention > The meaning of market failure > What is Market failure?
2 cards
Cards (4)
What is Market failure?:
Market failure occurs when the market is unable to
efficiently
allocate
scarce
resources
to meet the
needs
of society
Market failure occurs when the allocation of
goods
and
services
are
inefficient
See all 4 cards