Market failure is a term used to describe what happens when market arrangements do not allocate resources efficiently.

Name: Market failure is a term used to describe what happens when market arrangements do not allocate resources efficiently.
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Question

Market failure is a term used to describe what happens when market arrangements do not allocate resources efficiently.​

Quizplus · Accepted Answer

Market failure occurs when the market does not allocate resources efficiently, resulting in inefficiencies, such as underproduction or overproduction of goods and services, externalities, public goods, and imperfect competition.

Market Failure Is a Term Used to Describe What Happens