Market Failure
When the market either supplies too much, too little, or at the wrong price, or does not cover their negative externalities, such as pollution.
For example, a company may sell $1million worth of products.... but cause $0.5million in damage to the local river. Who covers this cost? The government does, but surely the company should have to pay for it.... this is market failure.
Another example is a merit good... just say people were unaware that an apple could improve your teeth and skin, then more would be demanded for it, but at the current situation, not enough is wanted... see? 😄
Well sort of... but we don't study communism, we study the "natural" marked, not a command economy ✅
What happened there was the goverment weren't aware of the consumer's needs for products, and decided to under-produce the products you really needed, such as bread and that ✅
Communism is also really bad at reaching maximum efficiency 😖mart:
Originally posted by silver_tearsI'm delighted to hear this. 🐰
It's now my top priority eyes
Originally posted by yerssotcry So you turned to the first statistician you met....
you were away for so long and I felt lonely cry try to understand it GP 🙁
Originally posted by silver_tearsNo Michael, you're wrong, I am your daughter ! And I'd like to be always there for you, but not that way ! And I'd love to have children that resemble Peter, but I don't want him to be the father ! But CAN YOU EVEN CONSIDER THAT ???? *cries*
Oh I sense drama 😱