Analysis of optimal resource allocation in markets and circumstances when markets fail to achieve efficient outcomes.

Most popular content: Market Efficiency and Failures

Microeconomics Key Concepts

Explore essential microeconomic principles including market structures, externalities, efficiency types, and government intervention. This summary covers monopolistic competition, oligopoly, market failure, and elasticity, providing a comprehensive overview for Year 12 exam preparation.

Economics

Microeconomics: Externalities & Market Failures

Explore key concepts in microeconomics, focusing on externalities, market failures, and government interventions. This summary covers negative and positive externalities, demerit and merit goods, price controls, and the implications of subsidies and taxes. Ideal for AQA A Level students seeking to understand the complexities of market mechanisms and their impact on social welfare.

Economics

Understanding Market Failures

Explore the concept of market failures in economics, focusing on factor immobility, information asymmetry, and monopolies. This summary covers key topics such as the immobility of capital, land, and labor, and their impact on resource allocation and market efficiency. Ideal for A/AS Level students seeking to grasp the complexities of market imperfections.

Economics