61.  Market failure is nor completely paralyzed of the function market, but it means that market can not efficiently allocate goods and services all the time.

62.  Can anyone reading my essay imagine themselves living in a world without exchanging goods and services?

63.  It encourages people to specialize in the activities he or she does best, and through trading, everyone can get goods and services at a higher quality and lower cost.

64.  Market failure does not mean that the whole market has ceased functioning but when market failure comes, market can not organize production efficiently as it is supposed to, Goods and services cannot go to the place where it is needed most.

65.  Instead, a market failure is a situation in which a given market does not efficiently organize production or allocate goods and services to consumers.

66.  Fifthly, incomplete markets, which is a term used for a situation where buyers and sellers do not know enough about each other's positions to price good and services properly.

67.  Instead, a market failure is a stituation in which a given market does not efficiently organize production or allocate goods and services to consumers.

68.  "Incomplete markets" is a term used for a situation where buyers and sellers do not know enough about each other's positions to price goods and services property.

69.  Instead, a market failure is a concept within economic theory wherein the allocation of goods and services by a free market is not efficient.

70.  Market failure, a concept within economic theory, does not mean a market has ceased functioning, but the allocation of goods and services by a free market is not efficient.