This is chapter 15 within the mega-episode "What is a market?"
 
In this episode, I plan the discuss about the concept of market failure.
Markets do not always work perfectly. Sometimes markets fail as well.
So, what do we mean by market failure?
And why does it happen?
Thus, here are the three scenarios of market failure:
<ul>
 <li>Functional failure</li>
 <li>Role failure</li>
 <li>Outcome failure</li>
</ul>
 
Credits:
<ul>
 <li>Narrated by Sid Barthakur</li>
 <li>Music by Alexi Action from Pixabay</li>
</ul>

This is chapter 15 within the mega-episode "What is a market?" In this episode, I plan the discuss about the concept of market failure. Markets do not always work perfectly. Sometimes markets fail as well. So, what do we mean by market failure? And why does it happen? Thus, here are the three scenarios of market failure: Functional failure Role failure Outcome failure Credits: Narrated by Sid Barthakur Music by Alexi Action from Pixabay

What is market failure?

Our lives are impacted by the forces of economics in various ways. From the salary that we get paid, the price that we pay for groceries, the products that we find in our markets, inflation, recession and much more. On the surface, economics appears to only deal with financial matters, but once you start peeling the onion, you will start to see how many thing that you'd have never thought are related to economics are in fact related. You start to see this world in a new light.
In this podcast I look forward to examining the economic perspective of everything that happens in our world.

Business

Our lives are impacted by the forces of economics in various ways. From the salary that we get paid, the price that we pay for groceries, the products that we find in our markets, inflation, recession and much more. On the surface, economics appears to only deal with financial matters, but once you start peeling the onion, you will start to see how many thing that you'd have never thought are related to economics are in fact related. You start to see this world in a new light. In this podcast I look forward to examining the economic perspective of everything that happens in our world.

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What is market failure?

What is market failure?