Economics: Market Failure

ket Failure! DATE is a situation in which the market doesnot provide the right goods or optimal amount of a particular good. AS a result, the market is not allocating resources efficiently and sociery's welfore is not maximised provided ement causes Market imperfections market dominance imperfect information immobility of factors of production to 2 Presence of extenalities in consumption of G&S Non-provision under-consumption of public of merit goods goods by the and private over- sector - consumption of dement 4 goods inequalities in the distribution of income and wealth 5 POSITIVE EXTERNALITIES IN CONSUMPTION getting a vaccination probability of contracting diseases reduced! MEB: against MPB: Individuals base Qs>Qp. consider MPC will only Benefit XX of area XX at cast resources c MARKET A MSB MEB MPB Bantex Quantity Qp.