A fashion brand releases a limited-run designer sneaker priced at £180. Within seconds of launching the product on their website, the entire stock sells out completely, with thousands of disappointed shoppers unable to complete their purchases.
What has occurred in this market?
Asymmetric information
Disequilibrium
Free rider problem
Public good market failure
11 exam-style questions on OCR A Level Economics The interaction of markets. Each one has a worked solution and a mark scheme showing where the marks go.