List Three Causes of Market Failure and Give an Example

question 5

Essay

List three causes of market failure and give an example of each.

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Definitions:

Management Consultant

A professional who provides expert advice to businesses and organizations to improve their performance, solve problems, and develop strategies.

Informal

pertains to interactions or structures that are not officially sanctioned or structured, often relying on personal or casual relationships.

Semi-Formal

A dress code or event that is between formal and casual, often requiring smart, well-kept attire without being overly formal.

Formal

Pertaining to conventions, rules, or established procedures often recognized by official institutions or customs.