Types of market failures

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Last updated 7:26 AM on 4/24/26
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8 Terms

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Market failure

When the free market has a misallocation of resources

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Types of market failure

Negative externality

Positive externality

De merit good

Merit good

Public goods

Tragedy of the commons

Income inequality

Monopoly power

3
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Cause of market failure for Negative and Positive externality

Self interest

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Cause of market failure for De merit and merit goods

Information failure

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6
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Public good cause

Free rider problem

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Tragedy of the commons reason

Self interest

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