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 ▸

Can you explain the difference between RPI and CPI inflation?


To what extent is the national minimum wage beneficial to society?


What are the effects on UK businesses after an increase in fuel prices?


Explain why the growth in the demand for freight transport has been roughly the same as that of GDP.