Market failures refer to those situations where the sellers are not producing as much as the buyers are wanting to buy.

Name: Market failures refer to those situations where the sellers are not producing as much as the buyers are wanting to buy.
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Question

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Market failures occur when the allocation of goods and services is not efficient, often due to reasons like externalities, public goods, or information asymmetries, not just supply-demand imbalances.

Market Failures Refer to Those Situations Where the Sellers Are