Asked by
Kiera Conner
on Nov 05, 2024
Verified
Market failure results in an inefficient allocation of resources.
Market Failure
When the free market's distribution of goods and services is inefficient, it typically results in a reduction of societal welfare.
Inefficient Allocation
A situation where resources are not used in the best possible way, often leading to waste or unmet needs.
- Recognize the causes and consequences of market failure.
Verified Answer
TW
Learning Objectives
- Recognize the causes and consequences of market failure.