Mindmap
Market Failure
Inhalt der Mindmap
Market Failure
Efficiency
- Maximising economic welfare
- Market efficiency
- Achieved by allocating resources so that society maximises net benefits
- Measured by total surplus
- Achieved by allocating resources so that society maximises net benefits
Economic Problem
- Resources are scarce and therefore must be used in best possible way rather then wasted
- Issue of relative scarcity
- Economic Scarcity
- Price reflects this
- changes in price
- Provide incentives to consumers and producers to make decisions
- changes in price
- Price reflects this
- Resources are scarce and therefore must be used in best possible way rather then wasted
Informationen
- Beschreibung
- econs Mindmap am Market Failure, erstellt von lucygs am 07/05/2013.
- Erstellt von
- lucygs · Mai 2013
- Aktualisiert
- 19 Feb 2016
- Aufrufe
- 34
- Tags
- Bewertung