Market failure occurs when not every consumer who wants a good can obtain it.

Name: Market failure occurs when not every consumer who wants a good can obtain it.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Market failure occurs when the allocation of goods and services is not efficient, not simply when some consumers cannot obtain a good. It involves situations like externalities, public goods, and information asymmetries.

Market Failure Occurs When Not Every Consumer Who Wants a Good