To see details on the word
market failure
please enable javascript.

market failure

  significant failure of the market to allocate goods and services in an efficient and desirable manner
 Mark word for later review on this computer
market failure market failures
Some market failures are easily agreed upon. For example, the Soviet Union farmers once fed bread to their cattle because its government set price was less than the price of grain. Similarly, the market will not adequately consider the cost of polluting a river without government intervention.

Other market failures are less easily agreed upon. For example, some might argue that any market that pays a CEO 50 times as much as a laborer is a market failure; while others might argue that such a system works to encourage others to work hard to become CEOs and to work long productive hours once they’ve achieved that position.
Web Links:
(try right-click if popups are disabled)
Dictionary -®
Dictionary/Synonyms - Google®
Dictionary List - OneLook®
Wikipedia Article
Google Images
Search for samples from other sources:
(try right-click if popups are disabled)
Interest -- Source
General -- Google News®
General -- Time® Magazine
General -- Twitter®
Associated words [difficulty]:   market failure , supply and demand [7] , demand curve [9]
     If popups are enabled: Search in OneLook®   If Flash® is also enabled: Search in Visuwords®
Most commonly used in these subjects:   Public Policy & Politics, Business, Law
Home . . . enhancing vocabulary while reading