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Describe at Least Three Reasons Why Market Failure Occurs

question 71

Essay

Describe at least three reasons why market failure occurs.


Definitions:

Respondents

Individuals who answer or respond to surveys, questionnaires, or interviews as part of data collection efforts.

Vague Language

Vague language consists of words or expressions that are not precise or clear, often leading to ambiguity or misinterpretation in communication.

Flexible Interpretation

An approach that allows for adaptability and multiple perspectives in understanding or analysing texts, situations, or data.

Personal Observation

Direct witnessing or monitoring of events, behaviors, or activities, used as a basis for drawing conclusions or gathering data.

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