Market Failure

PIC PIE

P - ublic goods(goods collectively consumed and have the characteristics of non-excludability and non-rivalry.
I - mmobiility (of production)(extreme limits of the activity)
C - (lack of) ompetition(gives the big firns on the market monopoly, and keeps small businesses afloat)

P - owerty(poor contry, having fewer resources or less income than others in a society, country, or in relation to the global average.)
I - nformation failure(a lack of information resulting in consumers and produvers making decisions that do not maximise welfare)
E - xternalities (effect whereby those not directly involved in taking a decision are affected by the actions of others)

and with this I proclaim my DAILY BLOG for open again ... Until Christmas holiday...