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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