Compléter Market Failures (D)Version en ligne Externality par Nilam Chandra 1 Negative Positive Externality Free failure smoking rider Market is the economic situation defined by an inefficient distribution of goods and services in the free market . 2 Market failures Non excludable Non rivalrous Public good Free rider Externalities occur when one person's actions affect another person's well - being , and the relevant costs and benefits are not reflected in market prices . 3 market externality public rider failure positive negative free goods A arises when my neighbors benefit from my cleaning up my yard . 4 rider negative non externality excludable positive free market failure A arises when one person's actions harm another . 5 education market training failure smoking externality An example of negative externality is . 6 noise education smoking pollution traffic congestion failure An example of positive externality is . 7 externality positive failure negative childcare hospital Middlemore market Private is an example of a public good . 8 Free rider Nonexcludable Public goods Market failure Non rivalrous Externality means that it is costly or impossible for one user to exclude others from using a good . 9 rivalrous rider Negative excludable Free Non positive externality means that when one person uses the good , it does not prevent others from using it . 10 public externality taxation Market positive Private good free A and services are administered by the government and paid for collectively through taxation . 11 Non Free failures rivalrous market negative riders positive excludable externalities are a problem because while not paying for the good or service they may continue to access or consume it .
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