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Market Failure - Coggle Diagram
Market Failure
Long Run Non-Market Policies
Edn Campaigns
Direct Govt Provision
Retraining/ Upgrading Skills
R and D
Presence of externalities
Positive externalities
Consumption
Production
Negative externalities
Production
Consumption
Information Failure
Imperfect Information
Overconsumption
Underconsumption
Asymmetric Information
Adverse selection
Moral Hazard
Provision of Public Goods
Non-excludability
Non-rivalrous
Factor Immobility
Geographical Immobility
Occupational Immobility (Structural Unemployment)
Government Intervention
Market-based policies
Subsidy
Indirect Tax
Non-market policies
Short Run
Quotas
Regulation
Nationalisation
Legislation
Market Dominance
Monopoly/ Market power