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4.1.8 The market mechanism, market failure
4.1.8.2 The meaning of market failure
What is meant by a misallocation of resources?
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Why may there be a misallocation of resources in markets?
Year 1 Microeconomics > 4.1.8 The market mechanism, market failure > 4.1.8.2 The meaning of market failure > What is meant by a misallocation of resources?
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What is meant by a misallocation of resources?:
Misallocation of resources means that resources are not put to their most
efficient
use
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