market failure Flashcards
(10 cards)
1
Q
efficiency
A
when the most benefit and produced at the lowest costs
2
Q
what are the 4 types of market failure
A
-public goods
-information gaps
-negative externalties
-positive externalities
3
Q
market failure
A
When the price mechanism leads to a misallocation of resources.
4
Q
A
5
Q
A
6
Q
A
7
Q
A
8
Q
A
9
Q
A
10
Q
A
