Environmental Sciences, asked by subratmishra86961, 1 year ago

What is market failure & discuss its effect on economy.

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Answered by Vaibhavverma73

Hey mate!

I am here with your answer!

In economics, market failure is a situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss. Economists, especially microeconomists, are often concerned with the causes of market failure and possible means of correction.

Hope this will help you!

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