IB Economics: Stress-free teaching, engaged and successful students

IB Economics:
MARKET FAILURE

In the IB Economics course, market failure refers to how a market economy (free markets) can often fail to achieve the correct outcomes for individuals and society. Market failure is essentially about allocative inefficiency and the overallocation or under allocation of resources to producing a good or service. Here we also examine how the various types of government interventions can help free markets overcome their failings.