What Makes a Market Imperfect?
What Makes a Market Imperfect?
A market allocates resources efficiently only when consumers and producers have good information, firms face effective competition, and factors of production can move to where they are valued most. When one of these conditions fails, resources can be misallocated and market failure may result.
Step-by-step lessons on AQA A Level Economics 1.8.6 Market imperfections. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.