Introduction to Market Failure

Markets are thought to be the most efficient system for allocating society's scarce resources. However, what if markets FAIL to achieve the efficiency we so desire as a society? Market failures arise when the free market quantity is either greater than or less than the "socially optimal" quantity of a good.

This lesson introduced different ways markets may fail to achieve a socially optimal level of output. In part 2 of this lesson we'll explore in more detail one type of market failure: negative externalities of production.

[s-sq]

Thanking you for explaining this so well and not trying to charge students like other channels try to

[jom]

This is very well explained. Thank you for the video!

[aakashpatel]

Thank you so much! from india fgiving my first sem (IB) tomorrow

[kotekmoyang]

Hi from Singapore taking my alevels on Tuesday thanks a lot

[haweyorashid]

I love your music it made me dance, and I love your energy; thank you so much for the videos very helpful

[felipebucci]

man, you saved my skin so many times tnx

[brianhills]

Just wondering, what graph could you use to show income inequality Market failure? And how could the govt intervene to help correct it?

[firdoussagar]

Teaching of high class, just fabilious

[daisychan]

Thank you for your lesson! <3 <3 Love it!

[sureshsambhari]

Can u add subtitles as every one cant understand american accent