What is market failure'? Explain one way in which government can ...

[faduma]

What is market failure'? Explain one way in which government can help overcome such failure.
 
  What will be an ideal response?

Question 2

Which idea about development was constructed with developing countries in mind?
 
  a. Harrod-Domar model
  b. New Growth theory
  c. Neoclassical growth model
  d. Lewis labor-surplus model
  e. All of the above

[Galvarado142]

Answer to Question 1

Market failure is defined in the text. The student may choose from among ways to overcome market failure such as providing information, regulating monopoly, providing public goods, etc.

Answer to Question 2

D

[faduma]

Thanks for the timely response, appreciate it

[raili21]

Excellent