| 单词 | market failure |
| 释义 | > as lemmasmarket failure market failure n. Economics failure on the part of the market system to provide the optimum level of production or quality of product or service; an instance of this. ΚΠ 1958 Q. Jrnl. Econ. 72 351 What is it we mean by ‘market failure’? Typically, at least in allocation theory, we mean the failure of a more or less idealized system of price-market institutions to sustain ‘desirable’ activities or to estop ‘undesirable’ activities. The desirability of an activity, in turn, is evaluated relative to the solution values of some explicit or implied maximum-welfare problem. 1993 Accountancy Feb. 45 Market failure can be handled aggressively, ie to create a disadvantage for a competitor. 1994 New Scientist Oct. 48/1 The solution to poaching..lies..in identifying and curing a market failure in the livestock sector. < as lemmas |
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