Economics Market Failure & Allocation of The Goods Discussion

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Economics

Question Description

I’m studying for my Economics class and need an explanation.

Market failure is a situation in which a given market does not efficiently organize production or allocate goods and services to consumers. Overcoming market failure is a significant challenge for the government, which is not easy to accomplish and may require intervention. In this Discussion, you will consider what the government can do to regulate market inefficiencies.

By Day 7

Submit  a response that addresses the following:

  • Give one example of a market failure, such as air pollution, water pollution, illegal immigration, or child labor, that is an international problem.
  • Describe the role of the U.S. government in addressing this international market failure and explain why the U.S. cannot unilaterally solve the problem.
  • Explain how individual economic decisions affect this market failure and how economic principles can be applied to modify those individual decisions to help correct the market failure.

Explanation & Answer:
300 Words
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Explanation & Answer

Attached.

Running Head: MARKET FAILURE

1

Market Failure
Institution Affiliation
Date:

MARKET FAILURE

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At times, due to some constraints, there may be some inefficiency in production as well
as the allocation of the goods and services to the consumers. When this happens, it is clear that
there is a market failure. Such a situation is a significant setback to the government and thus the
need to market urgent considerations on how to solve the problem. The government needs to take
some measures to regulate such inefficiencies. The movement of goods and services in the
market should follow a specific efficient prog...

orajnzbavpnu (25226)
Duke University

Anonymous
Just what I was looking for! Super helpful.

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