Market failure is the situation in which a market delivers an inefficient outcome.
举一反三
- A situation in which an economic market is dominated by a ____ is known as a monopoly.
- The government can potentially improve market outcomes if market inequalities or market failure exists.
- The two main causes of market failure are externalities and market power.
- The market situation is difficult to ______ .
- Market failure in the form of externalities arises when the market fails to achieve equilibrium.