About this document

Chapter 14 by Mae L is a document available to read on EtoBox.

Market failure occurs when market forces do not efficiently produce the desired products, leading to issues like shortages, surpluses, and high prices. It can result from external costs not accounted for in production, information failures, and the presence of merit and demerit goods. Additionally, market power imbalances, resource immobility, and short-termism can exacerbate these failures.

Author

Mae L

Language

EN