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    N/A, 3amoo, SucharitaMukherjee, MennaFikru, LouisJohnston, COLABELLA, CharlesClark, RobertFerrari, Buechner, Nair, Ralph Terregrosa, Jones, BRUCECAMPBELL, Gary Mongiovi
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  • 11 terms

    Term:

    market failures

    Definition:

    Competitive markets allocated scarce resources to their most valued use from society's perspective. However, the markets were inefficient and ended up overproducing, underproducing, or not producing some products.

    • Chapter 4 Market Failures: Public Goods and Externalities
    • 11 terms
    • Vocabulary for Chapter 4 Market Failures: Public Goods and Externalities. Find, create, and access flashcards with Course Hero.

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