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1.8 The market mechanism, market failure and government intervention in markets

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Question 45

Government failure has occurred if a government intervention in a market

results in a net loss of economic welfare.

fails to completely eliminate a market failure.

is accompanied by administrative and enforcement costs.

leads to a redistribution of income from rich to poor.

1.8 The market mechanism, market failure and government intervention in markets Questions

  1. A Level
  2. /Economics
  3. /1.8 The market mechanism, market failure and government intervention in markets