IB 이콘 Market Failure
- 최초 등록일
- 2019.09.17
- 최종 저작일
- 2019.05
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Before explaining the distinction between public goods and merit goods, these goods and market failure should first be defined. Merit goods are goods that are considered to be desirable for consumers, but which are underprovided by the market. Public goods are goods that are non-rivalrous and non-excludable, but give benefit when they are consumed. Market failure is a result of allocative inefficiency from the point of view of what is socially desirable.
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