The four specific sources of market failure are

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The four specific sources of market failure are public goods (non-excludable and non-rivalrous goods which the market will not provide in sufficient quantity), market power (when firms have the ability to influence market price by controlling the supply of a good), externalities (costs or benefits arising from production or consumption of goods that are not reflected in market prices), and inequity (when the market does not distribute goods and services fairly). Private goods do not contribute to market failure as they can be easily provided and priced by the market as they are excludable and rivalrous. Therefore, option B and D are incorrect. Option C is incorrect as it includes market goods, which is not a recognized source of market failure.

The Four Specific Sources of Market Failure Are