(i) Briefly explain the reasons for market failure. (ii) What does market failure affect to an economy and the society? (iii) How does the government intervene to correct Market failure? Provide at least two examples from Sri Lanka.

(i) Briefly explain the reasons for market failure. (ii) What does market failure affect to an economy and the society? (iii) How does the government intervene to correct Market failure? Provide at least two examples from Sri Lanka.

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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4. (i) Briefly explain the reasons for market failure. (ii) What does market failure affect to an economy and the society? (iii) How does the government intervene to correct Market failure? Provide at least two examples from Sri Lanka.

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