Statements (28)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
Economic Concept
|
| gptkbp:addressedTo |
gptkb:legislation
Taxes Subsidies Antitrust Laws Provision of Public Goods |
| gptkbp:cause |
Market Power
Information Asymmetry Externalities Public Goods Government Intervention |
| gptkbp:coinedBy |
Francis Bator
|
| gptkbp:defines |
A situation where the allocation of goods and services is not efficient
|
| gptkbp:example |
gptkb:Monopoly
gptkb:Moral_Hazard Pollution Adverse Selection Underprovision of Public Goods |
| gptkbp:firstDescribed |
1958
|
| https://www.w3.org/2000/01/rdf-schema#label |
Market Failure
|
| gptkbp:opposedBy |
Market Efficiency
|
| gptkbp:relatedTo |
Deadweight Loss
Welfare Economics Market Equilibrium Pareto Inefficiency |
| gptkbp:studiedIn |
Economics
|
| gptkbp:bfsParent |
gptkb:General_Equilibrium_Theory
|
| gptkbp:bfsLayer |
7
|