71. Market failure is refers to market the inefficient allocation of goods and services.
72. For example, a for B to provide goods or services, a will have the right to claim compensation for BThe end is Asymmetric information, because of the economic activities in which information is different, some people can take advantage of information fraud, this will damage the legitimate transactions, when the people of fraud concerns seriously affect the trading activities, with normal market action will be lost, the market allocation of resources function or malfunction.
73. A free market is a market where prices of goods and services are arranged completely by the mutual non-coerced consent of sellers and buyers, determined generally by the supply and demand law with no government interference in the regulation of costs, supply and demand.
74. Some free market advocates oppose taxation as well, claiming that the market is better at providing all valuable services including defense and law, or that such services can be provided without direct taxation.
75. Instead, a market failure is a situation in which given market dose not efficiently organize production or allocate goods and services to consumers.
76. Many of us prefer to choose one or more course as supplies for normal lessons , when we easily find we have so many high-qualitied Online Education services available .
77. Market failure is not a complete loss of function of the market , but the market can not efficiently allocate goods and services .
78. In the fact, the term "market failure" means the market is in a unusual situation where it cannot produce production, allocate goods and services efficiently.
79. Market failure, which may remind people that a market has ceased functioning, actually is a situation in which a given market does not efficiently organize production or allocate goods and services to consumers.
80. Another one is incomplete markets, which means buyers and sellers do not know enough to price goods and services properly.