explain whether there has been a market failure, what type of failure, and what measures might solve it,  You should consider: the advantages and disadvantages of any solution whether doing nothing might be the best solution the concept of efficiency.  The only large employer in a local area pays its employees a low rate, and working conditions are poor. There is high unemployment in the area

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Q: Explain what is meant by market failure and   outline the sources of market failure.

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Q: How can government prevent market failure?

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Q: Discuss three cases of market failure, focusing on the reasons why they fail.

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Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.