Info Gaps And Admin Costs

Question 1

How does info gaps lead to market failure ?

Answer 1

As they are forced to make difficult decisions without full info on the cost and benefit of their choices

Question 2

What is an example of gov of info gaps

Answer 2

Underestimating costs of projects and wasting billions

Question 3

How do admin costs lead to gov failure ?

Answer 3

If the nhs could afford more medical supplies, they would be able to save more lives. This could be prevented if resources won’t allocated to admin costs