Economics A-Level
Partial market failure
What Partial market failure means in Economics A-Level, as defined for AQA.
Definition of Partial market failure
Check what you remember
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Reference: AQA
A situation where a market exists but contributes to resource misallocation by producing the wrong quantity or at the wrong price.
Topics that use Partial 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
- Resource allocation
Using Partial market failure in the exam
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