Market failure occurs because of the free market failing to fully consider positive and negative externalities. As a result, it ignores private and social costs and benefits.
Watch the video to learn more about market failure in HSC Economics:
Now watch a video on how to include private and social costs and benefits through externality graphs:
Get exclusive HSC content & advice from our team of experts delivered weekly to your inbox!
Attend our master-class workshops on how to ace your essays, assessments and exams!
Attend our master-class workshops on how to ace your essays, assessments and exams!
Attend our master-class workshops on how to ace your essays, assessments and exams!
Attend our master-class workshops on how to ace your essays, assessments and exams!
Get exclusive study content & advice from our team of experts delivered weekly to your inbox!
