TOPIC 3: MARKET FAILURE AND GOVERNMENT FAILURE

HideShow resource information
  • Created by: james
  • Created on: 29-03-13 13:32

TOPIC 3: MARKET FAILURE AND GOVERNMENT FAILURE

  • Define market failure
  • What are the causes of market failure?
  • Define allocative efficiency
  • Why is the social optimum not reached?
  • Define externalities
  • What are the four types of externalities and gives an example of each
  • What is the problem with negetive externalities?
  • What are the solutions of negetive externalities?
  • What is

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Market failure resources »