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2.10.1 Definition of market failure

Unit 2.10.1 - Definition of market failureThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to be able to define market failure as well as the following key terms associated with market failure:Public goodMerit goodDemerit goodSocial benefitsExternal benefitsPrivate benefitsSocial costsExternal costsPrivate costs

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