Market Failure (1 Viewer)

[moo_moo_molly]

What is market failure and what causes market failure?? Please help... I am economically challenged

 

[moo_moo_molly]

wow thanks heaps... I thought I had an idea as to what it was but I really didn't this has helped heaps! thanks!

 

[sunjet]

when the market doesn't take into consideration all of the costs of production such as the social 'externality' costs