2.9.2 Terms associated with market failure
Topic 2.9.2 - Definitions of terms associated with market failure This section of the Cambridge IGCSE syllabus covers the following ten definitions of terms associated with market failure: Whilst not explicitly mentioned in the syllabus, students should be able to use examples of market failure with reference to the above. 1. Public goods Public goods are products that are non-excludable and non-rivalrous in...