MARKET FAILURES

Honelako gehiago

Topic 8: Site Management Strategies

MIn Phan‑k egina

History Chapter 2

Noe Htat‑k egina

Chp 7 Vocab

Flipper Geiser‑k egina

Freedom to Serve Children Act

stephanie anderson‑k egina

the market produces a smaller qu quantity than is desired

consequences

the market produces more than what is desired

Type externalities

Positive

cost reduction ans /or production increase

Negative

cost increase and /or production reduction

MARKET FAILURES

Incomplete markets

-Absence of economic incentives -allocation of resources impossible to control dueto their cost -higher prices and lower quantities

-Free access -Public goods -asymmetric information non compettive markets

Imperfect competition

it's divided in

Monopoly

Oligopoly

Duopoly

it is characterized by

-Princes objects of manipulation or negotiation -heterogenity of products -Brand recognition

situation that occurs when a good or service is not efficient

Externalities

When a market produces effects on other subjects other than seilers ans buyers who act in the.

Impacts

costs and benefits for third parties not required

inefficiency in the markets