Explain market failure, Question- On Market Failure

Explain market failure

Assignment Help Business Management

Reference no: EM1397290

Words Limit: 300 or more
Subject- Business Law
Question- On Market Failure - We thought that the rationale for public policy is either market failure or government failure. Address the subsequent with this rationale in mind
a. Describe market failure from the perspective of the economist as well as government failure from the perspective of the political scientist.
b. Market failures are utmost commonly identified with negative externalities. Provide an instance of this phenomenon as well as a pro as well as con of government regulation as a corrective measure.
c. Lastly offer an example of a public good and explain why it is a market failure. Be specific

Reference no: EM1397290

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