IntroductionHow does the market fail? In this chapter we are introduced to five main examples. Soon you'll see market failures everywhere you go. Did you know Nobel Prizes have been awarded for insights into market failure?
|
REMEMBER YOUR STUDYGUIDE IS IN GOOGLE CLASSROOM ALREADY. USE IT TO TRACK YOUR PROGRESS AND TAKE NOTES.
|
Key terms |
The Two Minute Challenge |
|
|
|
|
|
|
|
|
|
|
|
Natural resources like water and forests do not necessarily require government or laws to be well-run. Stakeholders with a long-term interest in the resources can police each other. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|