2.9.3 Causes of market failure
Topic 2.9.3 - Causes of market failure This section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand the causes of market failure relating to: 1. Public goods Public goods are a source of market failure because due to the lack of a profit motive despite them having external benefits (positive externalities). Firms cannot charge those who are unwilling and/or unwilling to pay (due to...