Market Failures - Definitions and Examples
For the assignment below, you will join a small group, with whom you will read two or three blog posts about a particular type of market failure. After you have read and discussed the assigned posts, fill out this form with your partners and click 'submit'.
Type of Market Failure
What type of market failure is your group researching?
Define the type of market failure you are researching
Your answer
Under or Over Production?
In the case of your type of market failure, is the good in question being over-produced, under-produced, or not produced at all by the free market?
From the list below, check all the markets that exibit the characteristics of the type of market failure you are researching
Choose one of the examples you checked above and explain the characteristics of the market that make it a market failure
Your answer
Government responses
From the list below, check the boxes next to the government responses to the market failure that could lead to a more efficient allocation of resources.
Explanation of Government Response
In the space below, briefly explain how one of the government responses you checked above would help improve efficiency in the market for the good.
Your answer
Write the names of the people in your group
Your answer
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