Market Failure
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16 terms
Terms | Definitions |
|---|---|
market failure | a |
imperfect competition | a |
externalities | ... |
public goods | ... |
imperfect information | ... |
negative externality | ... |
positive externality | ... |
spillover costs | ... |
spillover benefits | ... |
over allocation of resources | ... |
under allocation of resources | ... |
marginal private cost | ... |
marginal external cost (marginal social cost) | ... |
non-rival | ... |
non-excludable | ... |
free rider | ... |
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