Economics GCSE
Misallocation of resources
What Misallocation of resources means in Economics GCSE, as defined for AQA.
Definition of Misallocation of resources
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Reference: AQA
A result of both positive and negative externalities, where the price mechanism fails to allocate resources efficiently.
Topics that use Misallocation of resources
- Externalities (AQA GCSE)
Related terms
- Externality
- Market failure
- Negative externalities
- Negative externality
- Positive externality
- Production versus consumption
- Resource allocation
- Third party
Using Misallocation of resources in the exam
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