Economics A-Level
Complete market failure
What Complete market failure means in Economics A-Level, as defined for AQA.
Definition of Complete market failure
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Reference: AQA
A situation resulting in a missing market, where the free market fails to supply a product entirely.
Topics that use Complete market failure
- The meaning of market failure (AQA A-Level)
Related terms
- Allocative efficiency
- Externalities
- Externalities and public goods
- Income distribution
- Inequality
- Market failure
- Market power
- Partial market failure
Using Complete market failure in the exam
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