Difference between revisions of "Market failure"
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(New page: Market failure is the inability of an economy or market to allocate its resources efficiently. Often the failure is due to an externality, such as a war or natural disaster.) |
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Revision as of 15:38, April 25, 2007
Market failure is the inability of an economy or market to allocate its resources efficiently. Often the failure is due to an externality, such as a war or natural disaster.