2.9.4 Consequences of market failure
Topic 2.9.4 - Consequences of market failure This section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand the implications of misallocation of resources in relation to: Note: demand and supply diagrams relating to market failure are not required 1. The over-consumption of demerit goods and goods with external costs Recall that market failure occurs when the price mechanism and the...