Market failure is significant challenge for the government

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Reference no: EM131073854

Market failure is a situation in which a given market does not efficiently organize production or allocate goods and services to consumers. Overcoming market failure is a significant challenge for the government, which is not easy to accomplish and may require intervention. In this Discussion, you will consider what the government can do to regulate market inefficiencies. • Give one example of a market failure, such as air pollution, water pollution, illegal immigration, or child labor, that is an international problem. • Describe the role of the U.S. government in addressing this international market failure and explain why the U.S. cannot unilaterally solve the problem. • Explain how individual economic decisions affect this market failure and how economic principles can be applied to modify those individual decisions to help correct the market failure.

Reference no: EM131073854

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