Market failure
Market failure, including public goods, merit goods, demerit goods, external benefits and costs, social benefits and costs, monopoly and the consequences of resource misallocation.
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Resources for Market failure.
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Market Failure
Learn what market failure means, the terms used to describe it, why free markets sometimes misallocate resources, and what the consequences are for consumers, firms and the wider economy.
Open resource →PresentationMarket failure Slides
Learn about market failure, its causes, consequences, and key terms. Understand how resources are allocated when markets do not work efficiently.
Open resource →MindmapMarket failure Mindmap
Learn the key concepts of market failure, including its definition, causes, and consequences, with this visual revision tool.
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