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What Is Market Failure?

What Is Market Failure?

Market failure occurs when a free market allocates resources inefficiently, so society's welfare is not maximised. Buyers and sellers usually consider their own private costs and private benefits, rather than every consequence for society.

1.3.1 Types of market failure Lesson

  1. A Level
  2. /Economics
  3. /1.3.1 Types of market failure

Step-by-step lessons on Edexcel A A Level Economics 1.3.1 Types of market failure. 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.

Lessons