What is market failure?

-definition =>complete, market not supply at all=missing markets and partial=>wrong quantity or price

-example with diagram

-explanation

YA

Related Economics A Level answers

All answers ▸

What are the objectives of a firm?


Evaluate the view that mergers always result in a lessening of competition


Explain why the price of average tickets has risen by £10 in the last month. Use a supply and demand diagram. (5 marks)


Discuss the possible reasons for the introduction of higher tariffs from the US on products imported from China [15]