<P> Different economists have different views about what events are the sources of market failure . Mainstream economic analysis widely accepts a market failure ( relative to Pareto efficiency ) can occur for three main reasons : if the market is `` monopolised '' or a small group of businesses hold significant market power , if production of the good or service results in an externality , or if the good or service is a `` public good '' . </P>
<P> Different economists have different views about what events are the sources of market failure . Mainstream economic analysis widely accepts a market failure ( relative to Pareto efficiency ) can occur for three main reasons : if the market is `` monopolised '' or a small group of businesses hold significant market power , if production of the good or service results in an externality , or if the good or service is a `` public good '' . </P>
what are the causes of market failure in economics
what are the causes of market failure in economics
the market is `` monopolised '' production of the good or service results in an externality the good or service is a `` public good ''
the market is `` monopolised '' production of the good or service results in an externality the good or service is a `` public good ''