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 is inflation?


Why might a perfectly competitive firm make abnormal profit in the short run but only normal profit in the long run?


Why is the long-run Phillips Curve vertical?


What are the characteristics of perfect competition?