What Is Market Failure? - Definition & Types

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question 1 of 3

In financial markets, equilibrium occurs when _____

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1. What type of market failure occurs when the market does not make any products at all?

2. The type of market failure that occurs because of the wrong quantity or price of products is _____

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About This Quiz & Worksheet

What is market failure? Quickly assess your comprehension of this concept and the different types of market failure by using the worksheet and quiz.

Quiz & Worksheet Goals

You can gauge your knowledge of the following topics:

  • Type of market failure that occurs when the market does not make any products at all
  • What equilibrium refers to in regards to financial markets
  • An example of a public good
  • Term used to describe when only one company controls the market causing a partial market failure
  • Type of market failure that happens because of the wrong quantity or price of products

Skills Practiced

  • Reading comprehension - ensure that you draw the most important details from the lesson on market failure
  • Knowledge application - use your knowledge to answer questions about the different types of market failure
  • Information recall - access the knowledge you have gained about what equilibrium refers to

Additional Learning

You can gain additional insights on these market failures thanks to the lesson named What is Market Failure? - Definition & Types. You can cover the following objectives using this lesson:

  • Determine when market failure occurs
  • Identify the causes of market failure
  • Compare and contrast the different forms of market failure
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